Page 37 - Bain Capital Double Impact - 2020 Year in Review

CASE STUDY
Why Rodeo Dental Became B Corp Certified: Alignment, Action, and Improvement
Serving those in need has always been Rodeo Dental’s mission. So when BCDI introduced the B-Impact Assessment (BIA) to help measure and track social and environmental performance, the Rodeo Dental management team set a goal to become a Certified B Corp, a designation which is given
to companies meeting the highest standards of stewardship, transparency, and accountability to balance profit and purpose.
“As first time entrepreneurs, founders, and healthcare providers, and our first experience with having a private equity partner, the importance of the Double Impact piece is the most important piece by far. There is an incredible alignment with our leaders and the BCDI team; every decision we make as an organization has the greatest accountability, transparency, and impact in mind.” CEO, Saam Zarrabi
With the BIA and management incentives tied to impact, Rodeo Dental’s management team is aligned and held accountable. The team sets goals, tracks progress against them, and reviews impact at each Board meeting.
From the start, Rodeo Dental’s culture and values have centered on its mission, but the impact tools that BCDI
has shared, like the BIA and B-Corp certification, have enabled the company to convey to employees, customers and community that Rodeo Dental is committed to these promises. To highlight some of their greatest achievements and initiatives over the past year:
Customers
• Almost 3,000 4+ star reviews
Employees
• Strong culture with Net Promoter Score of 58
• 89% of respondents would recommend RD to a family member
• >75% paid living wage; compensation rigorously analyzed and monitored to ensure fair and equitable practices
Community
LEAP Youth Leadership Program, UCLA: Since its inception, Rodeo Dental has championed the power of the LEAP leadership development program. Historically, the company sponsored 30 academically curious students from Brownsville to participate. Brownsville is cited as having the highest percentage of residents in the nation below the federal poverty level, and high unemployment rates.
The LEAP Foundation provides
leadership development training for
high school and college students. Our
annual event, LEAP Week, brings together youth for a life- changing immersive leadership program, with inspirational speakers, leadership training activities, networking opportunities, and more.
Dentists who care: Provide free dental services to individuals that have no insurance or Medicaid. Serving ~1,000 individuals each year annually (outside of COVID)
Environment
• Switched to waterless machinery Rodeo Dental switched to a dry vac system in 2019; this system not only reduces water and sewage consumption, but also runs a low RPM making it more energy efficient
Governance
• Aligned executive compensation impact outcomes to include:
ƒ D&I goals
ƒ BIA score improvement,
ƒ Successful achievement of Impact metrics targets
• COVID-19 protocols – Launched pulse surveys and held weekly town halls to communicate safety protocols, remote work and return to work considerations, vaccine education, and much more. As a result, staff infection rate maintained at ~12x less than the local area.
Sources:
https://www.pewtrusts.org/en/research-and-analysis/articles/2016/02/16/childrens-dental-health-disparities https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3402215/ Bain Capital Double Impact Year in Review – 2020 37