Riding the good wave in challenging times

In a 2017 survey, 6 out of 10 in Asia Pacific would pay more for “social good” products and services, Nielsen reported.

Consumers are becoming more mindful about their purchases and consumption, and employees are looking to work for more socially responsible companies. Meanwhile, investors are injecting more into businesses that give value to consumers and employees. Whilst the tendency is to ignore the more pertinent social issues and merely focus on profits, private companies are discovering the value of integrating social good in their philosophy and culture, stepping up in their efforts to do more good than harm to the local communities.

When Cheryl Ou decided to put up her next venture, she mentioned that a bad experience with one of her investors was what prompted her to start her social entrepreneurship journey and rethink her motivations for running a business.

In 2015, she started a boutique nail salon, aptly named The Nail Social, to provide training and stable work to local marginalised women. She also wanted to challenge the common misconception that social enterprises are ‘substandard and of low quality.’ “I knew I wanted to use my position as a business owner and employer to make a real difference,” she explained.

From that day, she made a promise to create meaningful companies that inspire and drive social change in the community. In 2017, amidst a competitive retail market, Cheryl and her husband opened The Social Space, a retail store that offers fair trade, eco-friendly products and services to encourage the community to be more discerning of their purchases.

“We hope to encourage people to be more conscious in their lives, and to realise that the decisions we all make on a day-to-day basis all have the potential to make an impact, either to yourself, the people around you or the environment,” Cheryl said.

The CEO recalled one of her fondest memories during a visit to an old folks’ home where they provided manicure services to the elderly and their caretakers, many of whom never had such an experience. “Through this, we want to show our trained staff that even though they are receiving help themselves, they are also still in a position to give back,” she said.

Cheryl’s good work is certainly paying off, as The Nail Social was recognised as a Champion of Good by NVPC's Company of Good in 2018. Champions of Good is a biennial national recognition that is now open for applications to honour companies that are exemplary and a multiplier in corporate doing good.

Cheryl currently manages two stores in Chinatown and Marina Bay under The Social Space brand, on top of two outlets under The Nail Social. “I truly believe businesses and companies are in a greater position to make an impact to the community and the environment, and I love that Company of Good (COG) is advocating just that,” she noted.

Company of Good was developed by the National Volunteer & Philanthropy Centre (NVPC) in 2016 to help organisations do good better, benefitting both the business and community.

Different companies are at different levels of giving, but every company should have a fair appreciation of the importance of being a good corporate citizen, Company of Good explained.

For companies that want to kick start a corporate giving initiative, Company of Good enables businesses to explore different ways of giving back better through the Company of Good Giving Profile, built on their own framework of 4 ‘I’s for good corporate giving. This allows enterprises to know where they are in their corporate giving journey, empowering them to integrate community needs and employee interests within their business strategies.

One highlight of COG’s programmes is a 5-month Company of Good Fellowship where business leaders and CSR professionals can learn, grow and collaborate as a community of corporate givers. The culminating activity is an action project that Fellows design based on new or current giving initiatives of their respective organisation.

For Robin Pho who is in the business of providing renewable energy, the COG Fellowship opened his eyes to the importance of “circular economy.” This concept of “keeping resources in use for as long as possible” gave him the idea of recycling equipment, such as photovoltaic panels and batteries, to reduce waste in his business. “The focus is on being sustainable and not just ad-hoc deeds of good, which can backfire and become disruptive to the beneficiaries,” he noted.

As CEO of energy specialist Right People Renewable Energy, Robin said that they are aiming for net zero emissions by 2030. The company has already taken the first step towards this goal by providing renewable energy sources and holding tree planting activities.

In Indonesia, where much of the energy production relies heavily on coal, the company is making huge strides in the country’s renewables push by building the largest solar and battery system for a diving resort. In Singapore, they installed solar and batteries to build one of the largest sustainable fish farms that does not rely on diesel. The company also opened up intern positions in their Jakarta office to provide equal opportunities to refugees.

Amidst challenging circumstances and climate change, Right People Renewable Energy persisted to do corporate good and further cemented its “business for good” status in 2019 with a B-Corp Certification—the highest standard of social and environmental impact in Singapore.

For Companies of Good, it's not just about doing good business, it’s about making a deliberate, conscious effort to create a purposeful business so that even in times of uncertainty, they can ride out the waves of challenges, lifting employees, stakeholders, business partners and communities to emerge on higher ground.

Get nationally recognised as Champions of Good today. Apply now at https://www.companyofgood.sg/champions-of-good