Our previous article discussed what Conscious Capitalism is all about. Now it’s time to demonstrate how this credo plays out in our corporate structure.
We first ask, “can corporations be a force for good?” Many cynical observers think not. Others are skeptical and await further developments. As an employer, you may be wondering if your corporation is a force for good, if it even matters, and whether the question even has a place in a capitalist society.
PayActiv believes a corporation can be a force for good, and that your corporation can join in that endeavor. It is one reason why PayActiv chose the difficult route to become a Certified B-Corporation, to demonstrate both our willingness and commitment to the tenets of Conscious Capitalism.
What does being a B-Corp actually mean? The concept is centered in The B-Corp Declaration of Interdependence:
We envision a global economy that uses business as a force for good.
This economy is comprised of a new type of corporation – the B Corporation –
Which is purpose-driven and creates benefit for all stakeholders, not just shareholders.
As B Corporations and leaders of this emerging economy, we believe:
- That we must be the change we seek in the world.
- That all business ought to be conducted as if people and place mattered.
- That, through their products, practices, and profits, businesses should aspire to do no harm and benefit all.
- To do so requires that we act with the understanding that we are each dependent upon another and thus responsible for each other and future generations.
B Corp certification is the result of what’s called “The B Impact Assessment”. It is a comprehensive evaluation of how PayActiv’s business model and operations impact everyone – from our workers, to our community and environment, right down to our customers. This includes everything from our supply chain to charitable giving and employee benefits.
We chose this route because we believed in our hearts that we not only were being a force for good, but that this was just the beginning of a journey that would last for the life of our company.
Being a B-Corporation sets a standard that we must achieve every year. It reminds us about the many stakeholders we must service. It serves as a message to all our employees that our mission goes beyond the bottom line. It is a call to action for every person in the company to serve you — our employer partner – to the best of our abilities.
That’s because our impact goes beyond just you and your workers. It extends to your community, your environment, and every touchpoint your company has with your internal and external worlds. Because this is true of every one of our employer-partners, our influence reaches millions of people.
We owe it to them to deliver on our aspirations.
There is a legal obligation in being a Certified B Corporation. Those who choose this path must “meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.”
We cannot, in good conscience, exist as a business unless what we do moves every touchpoint toward stronger and more resilient communities, to reduce financial stress and poverty, to generate a healthier environment, and creating jobs that aren’t just about people being cogs in machines. We want to create jobs that bring people dignity and purpose.
This is the company that you, our employer partner, works with on a daily basis. PayActiv is striving to bring good to you and your workers, and the world outside your doors.
We hope that this will inspire you to consider to becoming a Certified B-Corporation and joining a movement that aims to truly transform the world.
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