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Member Profile: Compensation Venture Group

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Compensation Venture Group (CVG) helps companies recruit and engage the talent they need to execute on their purpose and mission through the design and implementation of employee compensation programs. We design salary, cash incentive, equity, and other compensation programs that support company culture, strategy, and objectives.

The unique strategic, financial, and governance characteristics of impact organizations requires a fresh approach to compensation, benefits, and other conditions of engagement such as paid time off. Current marketplace norms, which have not served traditional companies well, are a complete mismatch for impact organizations.  CVG has a track record of developing innovative pay programs in unique company environments that support business success for all stakeholders, not just shareholders. We created the framework of Conscious Compensation®, supporting the principles of Conscious Capitalism, for evaluating and designing appropriate ways to pay workers in sustainable organizations.

CVG is an investor in Fledge LLC, the conscious company incubator; RealizeImpact, a not-for-profit investment fund dedicated to impact companies; and a founder of Global Equity Organization, a global nonprofit association devoted to the needs of equity compensation professionals who design and administer employee ownership programs.

FredWhittleseyCVG became a Social Purpose Corporation, a Certified B Corporation, and a mission-driven compensation consulting practice in 2013 because the founder, Fred Whittlesey, believes that the principles of sustainability are critical to rescuing the global economy from the current failing version of capitalism that is focused on short-term results and primarily rewards only two groups of stakeholders:  shareholders, and executives.

 

What We Are Doing

Compensation Venture Group’s mission is to spearhead a fundamental restructuring of employee compensation to support a multi-stakeholder focus on business success – Conscious Compensation®.  Compensation and benefits expenses are the largest category of business expenses in the service-oriented economy and work consumes the majority of adults’ waking hours. This collective investment of money and time should yield a winning environment for all yet the winning group has continually narrowed over past decades.

CVG’s Conscious Compensation® model supports a multi-stakeholder view of value creation. The multi-stakeholder model of sharing economic benefits will shift the focus from short-term profit, stock price and top-heavy distribution of pay to a longer-term measurement and distribution of value among all stakeholders.

CVG-3This change is easiest to effect in startup companies, which is why CVG is investing in and mentoring conscious startups.  In larger companies, the inertia of culture, programs, and practices requires more education and transition considerations, but immediate changes can be made to existing programs through changes in performance measurement, pay delivery, and communication.

By working from both ends of the spectrum – the startups that will be tomorrow’s significant employers and the large companies that must change their focus to survive – CVG can change the work experience of employees, continue to satisfy shareholders, and balance the distribution of value among other stakeholders – lenders and debtholders, customers, suppliers, community members near and far, and government.  The optimization of mutual value creation will spill over to society’s institutions – schools, social support systems, infrastructure, healthcare, and others.

For more information about Compensation Venture Group, visit their website at www.compensationventuregroup.com.

Member Profile: Kitsap Bank

Kitsap Bank_community_smallKitsap Bank is a full-service community bank, offering products and services tailored to the needs of businesses and consumers in Western Washington. Our experienced professionals offer cutting edge financial solutions, with superior service as our top priority. Customers enjoy easy access through 21 convenient locations, as well as state-of-the-art Internet banking services.

A Proud Heritage. . .With a Vision for the Future

Kitsap County Bank_Sepia_smallEstablished August 8, 1908, Kitsap Bank is headquartered in Port Orchard, WA, serving six Western Washington counties including: Kitsap, King, Pierce, Mason, Jefferson, and Clallam. With over $1 billion in assets, the bank provides a full range of financial services to commercial and individual customers. Kitsap Bank has been named a Preferred Lender by the U. S. Small Business Administration, a Corporate Philanthropist by the Puget Sound Business Journal, and has received a 5-Star rating by BauerFinancial, Inc., the nation’s leading independent bank rating firm.  Kitsap Bank is ranked the 10th largest bank based in the State of Washington and is the second largest woman-owned business, according to the Puget Sound Business Journal. The Bank was recently named Family Owned Business of the Year by Seattle Business magazine.

Sustainable Banking

It’s not just about being green. For us, it’s about helping our friends and neighbors, supporting local businesses, and protecting the things we love about our community for the next generation. We continually work to make sure we’re doing our part. Reducing paper in the workplace, recycling, improving energy efficiency in our locations, supporting eco-conscious non-profits, and working with vendors who offer sustainable products, are just part of what we do on a daily basis.

edg3 FUND Small Business Competition

Kitsap Bank_Check Presentation_OlyKraut_smallIn 2014, Kitsap Bank created a small business competition called edg3 FUND.  edg3 FUND’s Mission?  To provide funding for entrepreneurs dedicated to growing our community in three ways:  economically, socially and environmentally.

Kitsap Bank’s edg3 FUND (rhymes with hedge fund) small business competition was created to recognize small businesses doing great things in Western Washington.  As a family-owned community bank, we understand the unique challenges faced by small businesses.  One of the biggest barriers for entrepreneurs can be a lack of funding.  Most are not eligible for traditional bank financing when they are just starting out.  Many entrepreneurs turn to borrowing money from family or friends, or they take on costly credit card debt.  Kitsap Bank set out to help fill that funding gap for a deserving local business through this competition by offering a $20,000 cash prize, and to connect entrepreneurs to other resources that can help them in their journeys.

The contest is open to businesses in Western Washington.  Ideal applicants to the competition have fresh ideas, are committed to creating sustainable communities, and have a clear vision of where they are going and what they want to achieve.  For more information about the annual competition, visit https://www.kitsapbank.com/edg3-fund/.

Kitsap Bank_RGB_BlkT_logoFor more information about Kitsap Bank, visit their website at www.kitsapbank.com.

Member Profile: Lacy & Par

Lacy and Par graphic

Lacy & Par is a locally-owned, mail and print service company, offering services in everything from traditional and digital format printing, to marketing and data management assistance, to direct mail design and fulfillment.

 

One does not usually think of printed content and direct mail as the cutting edge of marketing technology, especially in the age of social media and online advertising. However, Hsiao-Wen Lin, owner of Lacy & Par, makes a compelling case. (more…)

Ridolfi Environmental, engineers with deep commitment to environment and peoples

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Callie Ridolfi, President

Established in 1990, Ridolfi is an award-winning, small, woman-owned business that specializes in environmental engineering and scientific consulting. Ridolfi’s engineering team thrives on assisting clients in improving environmental quality, conserving resources and enhancing resilience using sustainable principals. (more…)

Veena Prasad and Project Feast

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Veena Prasad

From working as a Project Manager at Proctor & Gamble to running Veena’s Market as a solopreneur, Veena Prasad has created a career out of challenging herself.  Project Feast, emerged from an application for a grant created only two days before the deadline.   The time constraint was no barrier to Project Feast; the idea quickly gained followers including Aparna Rae, Veena’s business partner who has over ten years of experience working with refugee communities in Chicago, Vancouver, and in Seattle.  “Project Feast was born from an understanding of what a perfect ‘job’ looked like to me.” Veena said recently. “I missed working with others and realized that I wanted to do something that had a positive impact on society.” Veena’s desire to do something positive has paid off in a big way and Project Feast has established itself as a social-impact non-profit aiming to help immigrant and refugee cooks find sustainable employment in the food industry through relevant job training programs. (more…)