THREE WAYS BEING A CAN IMPROVE YOUR BUSINESS

by Chamber member K2 Architects

In today’s business landscape, companies are increasingly expected to demonstrate a commitment to social and environmental responsibility. One of the most effective ways to showcase this commitment is by becoming a certified B Corporation™ (B Corp). Here are three ways that it has enhanced our business:

Enhanced Brand Reputation and Customer Loyalty

Aligning your values with your clients is crucial for successful outcomes and repeat business. At K2 Architects, we aim to deliver work that positively impacts communities socially and environmentally. Restructuring our practice to adopt a B Corp-aligned approach has sharpened our focus and led to significant financial and qualitative improvements in our pipeline. When we compare our current pipeline with what it looked like five years ago, we can clearly see the comprehensive benefits of adopting a B Corp-aligned approach and how it has significantly enhanced our financial performance, project quality, and overall value:

• Greater Financial Success: Our annual revenues in 2024 are 2.5x higher.

• Better Quality Projects: The proportion of revenues from projects prioritising quality over cost has increased from 33% to 67%.

• More Publicly Funded Work: The share of revenues from publicly funded projects has grown from 37% to 67%.

• More Repeat Clients: Previously, 80% of revenues came from 38% of our clients; now it comes from just 30%.

• More Awards: We have doubled the number of industry awards our practice has won, from five to ten.

Attracting and Retaining Top Talent

B Corp certification helps attract employees motivated by more than just financial incentives. Today, the younger generation of employees seek workplaces aligned with their sustainability and social responsibility values. The construction sector often struggles with a negative image, but the B Corp approach has helped us challenge that perception.

A diverse workforce brings a well-rounded perspective to the challenges of delivering architecture in the 21st century. At K2 Architects, 50% of our workforce are now women, one-third are from ethnically diverse backgrounds, and another third are thriving with disabilities. We’ve created and invested in an inclusive environment focused on personal development and a culture of excellence. Most of our team members are engaged in self-improvement through professional qualifications or social value initiatives they care about.

How does this affect the bottom line? Our employees are more emotionally invested in brand K2 and are rewarded for their hard work. The result is an increase in individual productivity, which has risen by 47%. As an employer, I couldn’t ask for more from them

Boosting Resilience

B Lab, the nonprofit organisation behind B Corp certification, suggests that one notable advantage of B Corps is the resilience they provide during periods of economic instability.

There is widely cited evidence that B Corps had a 63% higher likelihood of surviving the 2008 recession than companies without the certification. The survival rate for B Corps is above 90%, while the average company survival rate is around 70%.

For K2 Architects, business success has enabled us to invest in technology, training, and better ways of doing things, which builds resilience.

A Final Thought

For us, being a B Corp has become a mindset and journey towards a better way of working. It has aligned us with a community that shares our outlook on life and has been instrumental in unlocking new and better opportunities despite the challenging economic climate of recent years. It has improved our business metrics and enriched our workplace culture, making K2 Architects a more rewarding and reliable client partner.

However, the greatest reward is that alignment with B Corp has helped us become a happier and more fulfilled organisation.

50% of our workforce are now women, one-third are from ethnically diverse backgrounds, and another third are thriving with disabilities. We’ve created and invested in an inclusive environment focused on personal development and a culture of excellence.