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August 20, 2018

The Best States For Socially Conscious Business

Want to work for a socially conscious company? Here's our definitive ranking of the best and worst states for socially responsible business. Find out where your state ranks.

 

Nobly prides itself on its social responsibility. Doing good for the world and our employees is always at the top of the agenda.


Businesses hold a lot of sway in today’s world. How they behave can have a huge impact on society. This includes things such as how they treat each of their employees, the diversity of people they hire, and what they give to the world around them.


Not only is being socially responsible morally good, but it can also be financially wise. Millennials will soon make up the majority of most companies’ paying customers. This generation is on the ball when it comes to the reputation of a businesses. If a company does not show social responsibility, they won’t buy from them.


Recently, Facebook lost $123 billion of its value in one day — the biggest single day loss in the history of US. Why? Because its users no longer trust the tech company due to its behaviour. The Cambridge Analytica scandal exposed the fact that Facebook was misusing its customers data and peddling fake news. This lack of social consciousness caused big trouble for the tech firm.


This got us wondering: where is the best place for socially conscious business practices? More specifically, which US state should you move to if you want to work for a socially conscious company?


Well, we did some research. These are the factors we looked at:

  • The number of top 100 SRC (socially responsible companies) with headquarters in each state
  • Work/life balance: number of hours worked a week against the average weekly income of its citizens
  • Gender pay gap: the difference in pay between men and women employees in each state
  • Racial pay gap: the pay disparity between white and non-white employees in each state
  • The economic confidence of employees — whether employees in the state feel their economic position is improving or worsening
  • Happiness of employees in their job role: the number of positive tweets against negative tweets regarding work

California was ranked as the state with the most socially responsible business practices, by quite some way! The west coast state is home to 15 of the world’s top SRC companies. Many of these are Silicon Valley companies, such as LinkedIn and Netflix.


LinkedIn, for example, has recently been praised heavily on its campaigns to help with disaster relief across the globe and its efforts to diversify its workforce.


California also has the smallest gender pay gap in the US. Any pay gap between men and women is not a good thing. However, women in California earn $0.89 for every dollar men earn.  This isn’t perfect, but compare this to Louisiana, where women earn $0.70 for every dollar men earn.


One of the most interesting results to come out of the study was the social responsibility practices of Connecticut. Despite the state having the highest GDP per capita in the US ($64,511 per person), it ranked amongst the lowest in our rankings. The state scored poorly due to the fact that it has the largest racial wealth gap of all US states. On average, there’s a 52% difference in pay between whites and non-whites. Citizens of the east coast state also had the second lowest ‘happiness in their job role’ score. This means that Connecticuters send a lot more negative tweets regarding work than positive.


Louisiana, it turns out, is the worst state for socially conscious companies. Not only do companies in the state have the largest gender pay gap between employees, but the economic confidence of Louisianians is amongst the lowest in the US.


New York ranked a close second to California. New York is home to 21 of the world’s top socially responsible companies and has the third best work/life balance of all states. Weekly, the average New Yorker works on average 33.5 hours and takes home $980. Pretty decent, right?


Check out our infographic with the full rankings:

 

Socially Conscious Business