Why the B Corp Certification Matters
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Financial metrics should not be the only thing considered when gauging success. A business should be run for the benefit of all its stakeholders – clients, employees, communities, and the environment.
I’ve done my share of business valuations and have labored to collect, tabulate, and analyze data that analyzes our client base to gauge their profitability. I understand it. I get it. But every time, I am left with the sense that the true value of my firm was not completely represented in those spreadsheets. What about my team? What about the quality and care we brought to our work? What about the financial outcomes of our clients? How does one quantify the positive change in their lives that we helped manifest?
As 2020 has brought to the forefront, our society is beginning to measure “value add” very differently. The accepted valuation process and metrics of success are becoming outdated. That’s why our wealth management firm, The Humphreys Group, became a certified B corporation in August 2020. The B corp certification, which started in 2006, recognizes for-profit companies that use business as a force for good.
B corp companies use the power of business to solve our most pressing global challenges, such as wealth inequality, climate change, and social unrest. B corp companies are working to reduce inequality, lower levels of poverty, make the environment healthier, strengthen communities, and create more high-quality jobs with dignity and purpose. There are over 3,500 certified B corporations in 150 industries and 74 countries.