Today we’re incredibly proud to announce that SecondMuse has become a Certified B Corporation™.
What exactly does that mean? B Corporations are a new kind of company that use the power of business to solve social and environmental problems. B Corps are leading a global movement of people using business as a force for good, so that one day all companies compete to be not only the best in the world, but the best for the world. It’s like a Fair Trade or LEED certification, but for a business.
There are currently over 1,600 Certified B Corporations from 130 industries, such as consulting, solar energy, manufacturing and law. SecondMuse is among a small few working with communities to transform markets for good. Unlike traditional corporations, Certified B Corporations are legally required to consider the impact of their decisions not only on their shareholders, but also on their stakeholders, including employees, suppliers, consumers, community, and the environment.
Why did we become a B Corp?
SecondMuse was founded by the Harmony Equity Group, a network of individuals and organizations operating within a common, evolving conceptual framework, in order to foster human prosperity through the development of more conscious, socially-beneficial commercial organizations.
Efforts in this light include redefining corporate structures, processes and environments. “Since we were already operating as a socially-driven enterprise, the decision to register as a B Corp was clear,” said Chad Badiyan of SecondMuse. “The designation reflects many of the values upon which our company was founded and connects us with other organizations who are striving to use business for good.”
The B Corp assessment has proven valuable in evaluating the company’s social and environmental impact and prioritizing next steps. The best practices and metrics it offers, in particular, complement the company’s aspirations and guiding principles.
SecondMuse’s Carrie Freeman explains one of these principles: “Justice is a principle that we strive to apply within our company and in the projects we choose to engage. Justice, implies fairness, equity, a sincere search for truth, and a recognition that the well-being of individuals and groups is achieved by promoting the wellbeing of the entire social body.”
Visible applications of justice within the company can be seen within its compensation model, governance and decision making structure, and in how team members are engaged in projects and opportunities. From a compensation perspective the company is committed to maintaining a lowest B Corp ratio (5:1) between the highest paid employee (partners) and lowest paid full time core team member. The company’s ratio is currently quite a bit lower than this. All core team members and partners receive the same types of benefits. Partners are all paid the same amount.
Decision making is collaborative and consensus-driven for important company issues that affect everyone. The company attempts to hire and staff projects in a way that everyone can learn and grow. “We believe diversity is the path to resilience. Its true in the natural world and it is certainly true in the corporate world. We are highly committed to building a diverse team, not just because its right, but because its the most effective route to excellence,” says Todd Khozein of SecondMuse.
As a new B Corp member, SecondMuse looks forward to exploring important issues like these with the community through its online forums and conferences.