*** Original post can be found here. ***
It used to be that business was about profit, no matter the cost to employees, community and environment. In our newest documentary, producer Dan Birman asks viewers to imagine a world where a different model operates.
Birman is shining the spotlight on conscious capitalism, the idea that companies can do things differently. “If a company starts with a purpose, then all other things start to fall in place,” Birman said. Businesses that subscribe to this idea would choose to reduce the disparity in wages between their managements and employees, be more environment-friendly, and charge fairer prices. Thus, they build sustainability by gaining the trust of consumers and the community. Birman admits, “It sounds utopian in some respects, but it’s a great model to at least discuss.”
Let’s put this into context. Have you ever paid a visit to your local Whole Foods and noticed that the employees seem happy and knowledgeable about their product? That could be attributed to the fact that Whole Foods has revolutionized employee relations by focusing on team member engagement, empowerment, job satisfaction and fair wages, driving down its turnover rate to just 14%, compared to the 47% grocery industry average, according to John Mackey, CEO and co-founder of Whole Foods Market, who is considered by many to be one of the fathers of the conscious capitalism movement. Plus, get a behind-the-scenes look at how Waste Management, North America’s leading provider of comprehensive waste management and residential recycling services, is protecting the environment while also generating $13 billion in revenues from lines of business that include recycling, landfill renewable natural gas projects, landfill gas-to-energy projects and carbon sequestration in landfills.
The film not only highlights these success stories, but also gives viewers insight into the four pillars of conscious capitalism and why this new way of doing business works in the modern economy. I think you’ll find it particularly timely, given the upcoming transfer of power in the U.S. administration and the big question of what is going to happen with the economy.