23rd October 2019: innovate360 , the recruitment agency that operates as a social enterprise, charging clients less and donating 20% of its fee to charity, has announced today its certification as a registered B Corporation.
B Corporations (or B Corps) are a growing group of companies who are reinventing business, by pursuing purpose as well as profit. innovate360 has been certified by B Lab as having met rigorous social and environmental standards which represent its commitment to goals outside of shareholder profit.
The B Corp Certification is for the whole of business and covers five key impact areas of Governance, Workers, Community, Environment and Customers. The certification process is rigorous, requiring business to achieve a score of 80 or more and provide evidence of socially and environmentally responsible practices - including energy supplies, waste and water use, worker compensation, diversity and corporate transparency. To complete the certification, business will legally embed their commitment to purpose beyond profit in their company articles.
innovate360 is now part of a community of over 2700+ businesses globally who have certified as B Corps. The B Corp Community is reflective of the Australian and New Zealand economies with businesses from a cross section of industries and sizes. These include well known organisations such as Australian Ethical Investment, Beyond Bank, Intrepid Group, Kathmandu, Community Sector Banking, AWA Alliance Bank, Culture Amp, Circle Alliance Bank and Blue Rock.
Ongoing attention on the recruitment industry makes innovate360 ’s B Corp Certification a notable step and signals a shift towards greater accountability and transparency in the sector.
“innovate360 was established to recruit high calibre, highly engaged staff for business, donating 20% of all fees to client nominated charities such that business and the community are able to prosper and thrive together” says Andrew McGarry, Director and Founder of innovate360 . “Australian organisations spend billions using external recruitment providers, providing an ideal opportunity for a social enterprise business model to create shared value across the entire community.”
The innovate360 social enterprise model of recruitment provides a win-win-win scenario for business, the community and people. An example of the impact, Andrew goes on to explain “We have a customer in Sydney for which we have recruited 75 high calibre staff Nationally across the last 3 years saving them well in excess of $300,000.00 in recruitment fees and generating $150,000.00 in donations for a project building an aged care facility to cater for Sydney’s aging homeless population”
Andrew Davies, Executive Director of B Lab Australia & New Zealand, says “We are delighted to welcome innovate360 to the B Corp Community. This is a movement of companies who are committed to changing how business operates, who believe business really can be a force for good. We know that innovate360 is going to be a fantastic addition to the community and will continue driving the conversation forward”.
“Being able to welcome innovate360 to the B Corp Community is hugely exciting. Their commitment to doing business differently will be an inspiration to others and really help spread the idea that we can redefine success in business to be as much about people and planet as it is about profit”.
There are currently 277 certified B Corps in the Australia & New Zealand and 2700+ worldwide.
About B Lab Australia & New Zealand
B Lab Australia & New Zealand is a non-profit established in 2013 to serve a growing community of Australian and New Zealand companies using business as a force for good. B Lab measures and verifies companies’ environmental and social performance using the B Impact Assessment, ensuring rigorous standards are met by all Australian and New Zealand B Corps. Together with B Lab teams from around the world, they link a global network of socially and environmentally responsible businesses and promote positive, action-led change towards a new approach to business.