Devono are proud to be a certified B Corporation firm, having made the commitment to be a purpose-driven business, embracing transparency, sustainability, and community driven decisions into all our actions.
To get us to this point in our journey has taken a significant level of work and dedication, led by Devono Equity Partner, Stephanie Cowles.
What motivated Devono to go for BCorp certification?
The higher purpose of values that the B Corp movement stands for was the main reason.
We liked the incumbent accountability for making business decisions that placed those values at the forefront of the decisions and the idea of being part of a club of global businesses who feel they can simultaneously run successful private businesses whilst leaving a positive imprint on the world.
What was the most rewarding part of the BCorp journey for you?
Securing BCorp status was incredibly rewarding. It was the culmination of 18 months of hard work, with nine months of intensive effort. It validated our commitment to the goals we set ourselves and it was a proud moment for the entire business.
Can you walk us through the initial steps you took to get the BCorp certification process underway?
To begin, I first familiarised myself with the certification requirements and established specific objectives. Next, I assembled a dedicated team, defined roles, and developed a comprehensive project plan to maintain our progress. Given the extensive nature of the BCorp application with over 1000 questions, meticulous tracking of data and activities was crucial to staying aligned with BCorp standards throughout our journey.
What were some of the most significant challenges you faced during the BCorp certification process?
One of the biggest challenges during the BCorp certification process was managing time and resources effectively. Balancing the rigorous BCorp requirements with my operational and sales responsibilities was demanding. Unlike many firms that hire a dedicated BCorp manager, it was crucial to ensure that our daily operations ran smoothly while dedicating time to the certification process. Additionally, navigating market uncertainties during the pandemic and economic shifts in the UK added complexity. Effective task management, strategic delegation, prioritisation, and some late nights were essential to successfully completing the process.
How has achieving BCorp status impacted the company’s operations and strategy?
Achieving BCorp status has fundamentally transformed our operations and strategy, placing a strong emphasis on sustainability and community engagement. We now integrate these values into every decision, from client interactions to internal policies, including those related to diversity and inclusion. This focus has always been vital to our success, and the BCorp process has highlighted the significance of embracing diverse perspectives and experiences. As the only female equity partner, I am dedicated to fostering an inclusive culture where everyone feels valued and empowered, enhancing our operations and client engagements.
What key changes or initiatives did you implement to meet the BCorp criteria?
We focused on improving our sustainability practices, diversity topics, enhancing our community engagement, and ensuring transparency in our operations. This included setting up recycling programs, participating in local community projects, and improving our reporting processes. Importantly, we set up a Board Advisory Team that particates in the company Board Meetings. It is not always easy for Business Owners to expose employees to such a meeting where business vulnerabilities are discussed but was important to us to dive right into the BCorp recommendations.
What are your future plans surrounding BCorp?
After taking stock of the enormity of what we have achieved, we have exciting plans ahead. We aim to create a support network for other businesses looking to achieve BCorp status. This includes developing guides, offering workshops, and sharing best practices to help others integrate sustainability into their real estate strategies. We also want to build a circle of industry accredited companies who can contribute to the above and be a source for topics like governance, sustainability, community and workforce. This is information that is valuable for all businesses, especially those who wish to start their BCorp journey.
Finally, what advice would you give to other businesses considering the BCorp certification?
Start by understanding the requirements and be prepared to invest time and resources. It’s a challenging journey, but incredibly rewarding. Stay committed, involve your entire team, and focus on the positive impact you can and will make.
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If you would like any further information on this report and its insights, please do get in touch or alternatively you can find more on our website at www.devono.com
