Best Buy Celebrates An Award-Winning Culture of Ethics

The way we work, shop and communicate has significantly changed due to the COVID-19 pandemic. What hasn’t changed, however, is our approach to how we do business at Best Buy.

We strive to be at our best in every decision, every day, and we’re proud to be recognized by Ethisphere as one of World’s Most Ethical Companies for the seventh time. We are one of only three retailers on this year’s list, which looked at issues such as COVID response, diversity initiatives and environmental practices.

Amid the pandemic, Best Buy put the safety of our employees and customers first. We proactively closed stores at the beginning of the pandemic, then implemented a contactless curbside pickup model that allowed customers to safely get the tech they needed.

When customers returned to shopping in our stores, we instituted a variety of safety procedures, including requiring customers and employees to wear face coverings, requiring employees to complete daily wellness checks, frequent cleaning protocols and more. We’ve also limited the number of customers inside our stores to allow for CDC-recommended social distancing and introduced new digital ways for customers to connect with Best Buy.

Meanwhile, we have taken a stand on the inequity many in our communities have experienced. We committed to making systemic, permanent changes that address social injustices to improve both our company and our communities.

In December, we announced the following goals we aim to achieve by 2025:

  • Fill one out of three new non-hourly corporate positions with BIPOC (Black, Indigenous and people of color — specifically Black, Latinx and Indigenous) employees. Additionally, one out of three new, non-hourly field roles will be filled by women.
  • Reach 30,000 teens annually from disinvested communities across the nation, including building a network of at least 100 Best Buy Teen Tech Centers to teach skills and build a talent pipeline for a modern economy.
  • Provide $44 million to expand college prep and career opportunities for BIPOC students, including adding 16 scholarships for HBCU (Historically Black Colleges and Universities) students and increasing scholarship funding for Teen Tech Center youth.

Building an ethical culture

An ethical culture is built around everyday decisions — what you do when no one is watching. Sometimes, it’s about going above and beyond for a customer, and sometimes it’s about speaking up when something doesn’t feel right. Regardless, we want our employees to know they are fully supported.

All of our employees participate in a yearly training on our Code of Ethics, which not only details our values and guiding behaviors. It also gives resources for our employees, such as ways to anonymously contact our ethics office 24/7.  

We want to thank our employees for their commitment to this work. Being named to Ethisphere’s list of World’s Most Ethical Companies is a testament to the good decisions our employees make every day.  

About the list

The Ethisphere Institute is a global leader in defining and advancing the standards of ethical business practices. The World’s Most Ethical Companies assessment includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance and diversity initiatives.

This year, the list of questions expanded to include relevant issues such as responding to the COVID-19 pandemic response, equity and social justice. In 2021, 135 companies were recognized on the list, spanning 22 countries and 47 industries.

Click here to learn more about our commitment to operating in an entirely ethical manner.