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C.E. Floyd Company is now a Public Benefit Corporation (PBC). PBC is a designation for a purpose-driven business. A Public Benefit Corporation gives the Board of Directors a legal responsibility to create the stated Public Benefit in addition to creating a return for shareholders. A typical company is only required to create a return for shareholders. 

Why become a Benefit Corporation?

Around the time Chris Floyd was transitioning into the role of President and CEO in 2015, the company began a period of rapid growth and change.

“I really gravitated towards the concept of growing to create opportunities for people and not growing to achieve revenue targets for growth’s sake,” said Chris. “I realized that providing an opportunity to create more success stories for people in all positions of the business would be more meaningful to me than focusing on financial targets.”

This idea led to the creation of C.E. Floyd’s core purpose: Building Visions and People®. 

The company has introduced several programs that help meet this purpose.

• Core value recognition program where employees are nominated by their peers for exemplifying one of the company’s five core values
• FLOYD (Fully Living Out Your Dreams) Speaker Series to help the CEFamily become the best versions of themselves through setting dreams and challenging themselves to get outside of their comfort zones
• Finding the right seat for the right person to help them contribute the most value and to be successful while still being themselves

Even with these programs, Chris felt like the company was missing the next step – a real commitment to the core purpose – until he learned more about public benefit corporations. “Becoming a Public Benefit Corporation will allow us to demonstrate to our CEFamily, clients, and the communities in which we work that we have a real commitment to our purpose with accountability.”

C.E. Floyd’s public benefit statement: 

Our public benefit is to create spaces that benefit the communities in which we engage in business and create opportunities (career and otherwise) to help our employees (CEFamily) reach their full potential. 

The basis for our public benefit statement is our core purpose: Building Visions and People®. Building Visions describes what we do: create spaces that benefit the communities in which we work. Building People describes how and why we do it: to create opportunities to help our CEFamily reach their full potential.

Do we sound like the right fit for your organization? Contact us to learn more about how we can help you with your next construction project.