On The Road to Becoming a B-Corp

By Erica Thomas

Here at Limina, we focus on transparency and impact. We are evaluating, improving, and strengthening our company processes to increase our purpose-driven work with our clients.  As such, becoming an organization designated as a B-Corp is an important next step for our team. Working through this process is a story worth discussing, so we dig into the details with Maria in a Q&A.

Hi Maria, it’s great to chat with you about Limina’s B-Corp journey.
Yes, it’s great to be here, and our team has learned so much through the process of preparing for certification and I am happy to share. The truth is, you can’t flip a switch to become a B-Corp. It is a journey. We’ve been on this path for over a year and are constantly improving. We’ve found that the B-Corp process enriches connections within our team, with our clients, and with the communities where we operate.

What is a B-Corp?
B-Corporations are companies that have gone through a rigorous vetting process demonstrating their commitment to high social and environmental performance goals and financial returns. Once they have achieved a B Impact Assessment score of 80 or above they can get certified as a B-corp. They are also required to change their corporate governance structure to become accountable to a more diverse set of stakeholders. Once certified there are ongoing transparency and reporting requirements organizations must undergo along with a verification process every three years.

What motivated Limina to pursue B-Corp status?
In 2019, Limina refined its mission, vision, and values and since then we have been working on defining what it means to truly live them. The B-Corp structure provided a meaningful and well-developed framework that has helped advance our understanding of ways we can articulate Limina’s vision.

Why does B-Corp status matter for Limina’s business?
Becoming a B-Corp increases accountability, clarity, and trust among our customers, communities, and employees. It aligns with our business model and provides a structure for success, helping us to achieve our vision. Businesses are also becoming more interested in working with companies that not only produce great products and services but do so in a way that aligns with a positive vision and values. I read that 72% of B2B buyers are more likely to buy from firms that do well on issues they consider important. I believe the American Marketing Association conducted that study, and it’s called “The Future of Marketing.” In addition, Gartner said recently that it expects by 2025 (just two years from now), 50% of CIOs will have performance metrics tied to the sustainability of their IT organizations. The B-Corp certification gives us a well-recognized and visible signal as we align around core issues important to both Limina and our clients.

How does the B-Corp framework impact Limina’s business strategy?
While working towards certification, we use the B Impact Assessment as a management tool to track progress and operationalize strategies. Certification requires increased transparency in business practices, expanded corporate governance, and positive social and environmental performance. As a result, Limina has grown and revised policies, processes, and benefits for employees. We are continually improving our diversity, equity, inclusion practices, and our approach to corporate social and environmental stewardship. Aligning business values with actions is the right thing to do, and Limina is excited about the work it’s doing and the benefits it’s gaining.

We are still preparing to submit for certification and have some key initiatives to accomplish this year. Still, we are excited about the work we’re doing and the benefits we are gaining.