This session will highlight the business benefits of operating as a Benefits Corporation (B-Corp) and discuss measurement and reporting processes. Founded in 2016, Synchronous Health’s goal has been to improve the lives of the people they serve, be the best place for their associates to do their best work, and to generate value for shareholders. However, value extends beyond financial gains, which is why becoming a B-Corp was an obvious choice: to declare public benefit and demonstrate positive impact. As a telehealth company, Synchronous Health adopted a remote-first culture before the COVID-19 pandemic. Rapid expansion led to doubling the workforce annually across 32 states and 3 countries. However, this growth brought challenges that emphasized the need for a comprehensive diversity, equity, inclusion, and belonging (DEI+B) strategy. This session will discuss the indicators that prompted reassessment of the organizational culture and revamp the DEI+B approach. The Synchronous Health story will emphasize the key metrics that drive decision-making as they continue to iterate and improve the DEI+B program. Their goal remains that all associates feel valued, supported, seen, understood, and empowered. It aligns with their mission of achieving the best of what it is to be human, thus creating a kinder world.
Learning Objectives
After completing this session, participants will be able to:
1. Describe the significance of a Benefits Corporation (B-Corp) structure in promoting social impacts alongside financial growth.
2. Explore the key areas measured in the B-Impact assessment process and their role in maintaining focus on social commitments.
3. Recognize the challenges and opportunities associated with fostering inclusivity, diversity, and addressing unconscious bias within a remote-first organizational culture.
4. Explain the metrics and data-driven approach used to evaluate and improve diversity, equity, inclusion, and belonging (DEI+B) strategies.
5. Apply practical guidance for creating a more diverse, equitable, inclusive, and belonging culture within organizations.