Fine Foods touts a new business paradigm
Fine Foods & Pharmaceuticals N.T.M. S.p.A. C.E.O. Giorgio Ferraris told businesses that the days of having a good income statement without a solid commitment to sustainability were gone, and society was moving towards a new business paradigm. Speaking at the "Benefit Corporations; from words to facts - a new business paradigm" event, Ferraris said that for Fine Foods, the idea that sustainability was the future emerged during a series of management alignment meetings.
"There cannot be a good income statement without sustainability, and we want to continue in this direction. Our company has a strong awareness, which our customers notice. We believe that sustainability is an essential compass which guides our management system," Ferraris said. Fine Foods adopted more social, environmental, and governance criteria for more than a decade. This started with the certification of business processes, which provided the basis for the continuous improvement of Fine Food's sustainability model.
"We are doing a lot of work with our people, aligning and sharing values and training our talent to motivate those who work for Fine Foods," Ferraris said. This approach was having a knock-on effect on staff retention – Fine Foods boasts a 97 per cent retention rate and receives 11,000 unsolicited CVs annually. Ferraris said that this was a sign that staff were promoting Fine Foods as a great place to work, which encouraged the company to continue investing in its human resources. The “Benefit Corporations; from words to facts” event was organised on 25 February by PwC, one of the world's largest professional services networks for businesses, together with Assobenefit, the first association representing Italian Benefit Corporations which supports companies with a business model focused on the common good. The event was presented by finance journalist Dario Donato and broadcast online, and looked at companies that have decided to become "Benefit Corporations" in Italy and how they were driven to apply a new sustainable success paradigm. This model combines a traditional company business with common benefit and social responsibility goals to create value for stakeholders. Speakers at the event included Mauro Del Barba, Senator and Assobenefit President, who enabled the legal recognition of Benefit Corporations, and Francesco Ferrara, Partner PwC Italia and ESG Leader.
Watch the interview here (available only in Italian).
View the full event at the following link (available only in Italian): Società benefit, dal dire al fare - un nuovo paradigma di business