In a report to city council, staff said the social planning committee heard from Mary Ellen Schaafsma, who represents the United Way’s Social Purpose Institute and who asked council to approve a partnership to support social purpose in business in the city.
The Social Purpose Institute (SPI) defines a social purpose business as “a company whose enduring reason for being is to create a better world. It is an engine for good, creating social benefits by the very act of conducting business. Its growth is a positive force for society.”
The institute offers programs for businesses that offer mentorship and education, including by helping to articulate their social purpose, guiding them in weaving social purpose into their business practices and providing professional development for staff.
The institute conducted research and reported six business benefits to including a social purpose, including customer loyalty, staff retention and motivation, strengthening relationships in the community to enable collaboration, strengthening social capital, improving financial returns and innovating to “enhance resiliency.”
“The SPI notes that through the pandemic, companies with a defined social purpose have performed better than average. It further notes that 70% of Canadian consumers believe companies should show how their products and services make the world better,” reads the city staff report.
The institute is headquartered in Burnaby, and it has already partnered with the board of trade to create a “centre of excellence” to support the growth of social purpose-led organizations in the city.
The council report noted “a number of leading Burnaby-based companies” are participating in SPI programs but didn’t specify how many.
Now, the SPI is seeking the city’s support for its programs both locally and regionally, saying the city could be a role model for other Metro Vancouver municipalities.
Specifically, the staff report pointed to two ways the city can participate in the partnership.
The first is a declaration of support for social purpose in business and potentially broadcasting that support to the public.
The second is for the city to promote social purpose businesses, including promoting SPI programs and services, co-hosting events with SPI and BBOT, advocating to senior levels of government and working with SPI and BBOT to develop “social purpose procurement guidelines.”
Staff expected participation in the partnership would be “minimal” financially, while time and resources invested into the partnership would be up to the city.
Mayor Mike Hurley said he’s “excited” for the city to get involved in the program, saying the city has many businesses driven by social purpose.
“The research is clear: when businesses invest in the well-being of their neighbourhoods, they benefit as well,” Hurley said, adding the pandemic has emphasized the role of communities.
Council voted unanimously in favour of the project.
Follow Dustin on Twitter: @dustinrgodfrey
Send him an email: dgodfrey@burnabynow.com
