B Corp Makes AdVic a Better Company
Estimated reading time: 4 minutes
Powered by four eager MBA students and a vision for our growing company, AdVic embarked on a journey to pursue both profit and purpose. As the saying goes, time flies when you’re having fun. And after initially certifying in 2018 as a result of that student project, we’re excited to announce that we have met all the requirements and have officially recertified as a B Corp.
The 5 Reasons We Recertified
Required every three years by B Lab, the nonprofit organization that oversees the certification and standards, recertification can be difficult for scaling companies. In the past three years, we’ve gone from 25 local employees to over 100 spread out across the country. But we’ve managed to maintain our purpose as we’ve scaled, a testament to the value of certification.
So to celebrate our commitment to being a business force for good, here are five reasons AdVic recertified, and why you should too:
1. B Corp got us here and has made us better.
Our certification empowered us to begin tracking important, non-revenue related numbers and KPIs, holding ourselves accountable to steady improvements and progress. When we initially certified, we were, like most technology companies, comprised of almost three-quarters white males. By the end of 2020, we were reduced that number to 51%, a direct result of setting goals and testing solutions, like the wording of job descriptions and the locations we recruited.
Simply put, B Corp establishes a high bar and sense of responsibility. It keeps us honest when evaluating our business and helps us continually iterate and improve, even as we scale.
2. B Corp will continue to make us better.
“We do not have all the answers and we won’t claim to be experts. We are on a journey that starts with transparency and continues with action and dialogue. We invite you to come along.“
We love that quote from the equality module of Salesforce’s Equality, Diversity, & Inclusion trailhead. As a B Corp, we know the journey is never done. As we continue to scale and grow, new problems will arise, both internally and externally, that will require creative, mission-driven, and purposeful solutions. We’re fully committed to self-reflection, measuring what matters, and becoming a better version of ourselves. And we’re excited for the progress we’ll make and the updates we’ll have when we recertify in 2024.
3. AdVic wants to be a leader in this movement, an example for all that a purpose-driven organization can turn a healthy profit, and scale.
The late American economist and statistician, Milton Friedman, argued that businesses exist solely to serve their shareholders–to maximize profits. Milton Friedman’s arguments made sense, in 1960. They don’t any longer. At some point, this argument led capitalism astray. AdVic is proud to be a part of a growing example of businesses existing to make money in a manner that benefits all: stakeholder (workers, clients, communities you operate in, etc.) capitalism.
Since starting the B Corp process, we’ve gone from a scrappy eight-employee startup to employing over 100 full-time employees. We’ve grown revenue every year since our founding, while also growing our impact on our employees and the communities we serve. Stakeholder capitalism is indeed alive and well–and here to stay.
4. It’s an awesome community!
Nothing beats the Bs. To say the B Corp community is welcoming is an understatement. We’ve yet to meet a B Corp that isn’t willing to invest some time in our journey. They share lessons, they share pitfalls to avoid, they share their blueprints to success.
As we move from a community of newcomers to seasoned veterans, we’re excited to pay it forward and continue our work helping companies certify and find their footing once they get there.
5. We see the value, but we’re in it for the right reasons.
Ask any B Corp business owner, there is one question that makes us all cringe, “What’s the ROI on it?” Have we landed amazing employees that found us because we are a B Corp? Yes. Have we gotten a client or two because we are a B Corp? Yes. Does it create a ton of natural marketing content that enhances and aligns our brand and culture? 100%, yes. But we wouldn’t say we have quantified the ROI on it.
We believe in doing business the right way and being a place people are proud to work. We believe in serving our community. We believe in creating change through purchasing policies, hiring practices, and first-class benefit packages. We believe that B Corps can be a catalyst for change and that’s why we recertified as a B Corp.
If you’re as fired up as we are, we invite you to join us and the greater movement of almost 4,000 businesses worldwide working and serving as a force for good. And whether it’s advice, answers, or assistance, we’re happy to help you get there. Feel free to contact us.