We are very excited to share with you that we are now a Certified Benefit Corporation!! I thought it would be a good idea to explain exactly what this means.
A Benefit Corporation has made a formal commitment to the triple bottom line of People, Planet, and Profit. This commitment is consistent with our core values and having the official certification will not only keep us on track, it will propel us forward. Annual re-certifications, and annual reporting requirements will help us stay focused and on course as our business continues to grow.
We initially met with Tom Hering and Mary Ann Harmer of Benefit Corporations for Good. They clarified the process and the expectations for this certification. Next we completed an evaluation comprised of 48 questions that required a ranking and an essay explanation for each response.
Per the Benefit Corporations for Good website:
“Questions are scored and graded based on criteria established by senior level business and management professionals, acknowledged experts in the Benefit Corporation model.”
“The criteria for certification from Benefit Corporations for Good are:
- Environmental sustainability and workplace “green practices”.
- Leadership and management competencies that support employees, vendors/suppliers, and customers with a focus on values including: Transparency, Authenticity, Diversity/Inclusion, Stewardship and Purpose.
- Engagement with community and nonprofit initiatives that support the development of ‘equitable and healthy communities’ as well as vulnerable individuals and populations.
- Sound and strategic business practices that foster profit and growth as well as metrics to monitor progress on criteria.”
We passed our test and were also given feedback on how to take this to the next level. Invaluable information!! I’ll be sharing more about that in a future post.
For now, we are registered with the Secretary of State as a Benefit Corporation. We also have an obligation to publish an annual report summarizing our efforts. Our first one will be for 2019 and will be available for your review in the third quarter of 2020 – on our website.
Thanks Tom & Mary Ann. We’re thrilled to be part of the revolution!