More Signals of Momentum for Stakeholder Capitalism
Several recent reports from multiple media and education sources point to increased focus on the need for CEOs to strategically and systematically address the needs of all stakeholders.
No matter where CEOs turn, they are confronted by more pressure to lead a strategic and systematic approach to people management. A recent report in Barron’s on ESG investing, from the Georgetown University BeeckCenter and articles in Strategy+Business and Raconteur all point to a coming tipping point.
A report this week in Barron’s, Sustainable Success: Stocks That Are Delivering for Investors and the Planet
, reports that: "Good sustainable practices are...a magnet for customers, who increasingly want to show that their partners treat the environment, workers, and other stakeholders well." In 2019, it reports “there was a tipping point," in terms of companies embracing sustainability. The Barron's ESG collection of stocks significantly outperformed the S&P 500 last year.
A recent Georgetown University Beeckcenter Report
predicts that the concept of "stakeholder capitalism," which the center calls the “corporate social impact” movement, is near a “tipping point” because of the vast sums of investments flowing into companies focusing on this new approach to capitalism, and because the majority of consumers and employees prefer to engage with organizations that focus on people. The report says the movement still faces headwinds from a few organizations that believe that organizations must for legal reasons focus primarily on shareholder interest; that social issues should be addressed by government and not business, or remain unconvinced that a stakeholder-focused approach to management yields greater financial results. On the other hand, the report identifies nearly two-dozen factors leading toward the tipping point.
More evidence of the new focus on people-oriented management comes from a recent article in Raconteur
, which says that today's investors seek CEOs with a long-term view and the ability to create a sustainable culture through empowering and addressing the needs of all stakeholders, instead of focusing mostly on the needs of shareholders.
The view is echoed in a recent Strategy+Business
article: "A well-designed leadership experience (LX)…can be linked to employee experience (EX) and customer experience (CX) in a way that fosters a healthy, productive, emotionally driven commitment among all three groups: leaders, employees, and customers. This, in turn, can forge a stronger identity for the company and set it up for success in the digital age."
A strategic and systematic approach to connecting these dots is a key part of ISO 30414 Human Capital Reporting and ISO 10018 Quality People Management standards that will be covered at the upcoming ISO Human Capital Standards Bootcamp, at Northwestern University Law School's downtown campus. For more information, click here
Master the Principles of Enterprise Engagement to Achieve Organizational Goals and Enhance Your Career
Profit from a new strategic and systematic approach to engagement to enhance your organization’s brand equity; increase sales, productivity, quality, innovation, and safety, and reduce risks.
Get trained to become a Chief Engagement Officer for your organization.
Achieve ISO 10018 Quality People Management Certification to demonstrate your organization’s strategic commitment to people to your customers, employees, distribution partners, vendors, communities, investors, and regulators.
Learn how to create Sustainability or Integrated Reports for Your Organization or Clients.
Get up-to-speed on ISO human resources standards and guidelines to enhance HR performance.
The Northwestern University Law School’s Workforce Science Project is hosting the first certification preparation program for ISO 30414 Human Capital Reporting and ISO 10018 Quality People Management standard, the first of which was recently achieved by DTE Energy. Professionals for organizations and solution providers seeking to benefit from the new ISO 30414 Human Capital Standards, ISO 10018 Quality People Management, and other standards can attend an intensive program requiring no more than one night away from the office for most US attendees to learn how these standards an improve performance, efficiency, and stakeholder experiences and prepare for certification. Click here for more information.
Enterprise Engagement in Action. Take advantage of scheduled monthly live webinar preparation courses for the Certified Engagement Practitioner designation consisting of three one-hour classes and of quarterly Advanced Engagement Practitioner courses consisting of three one-hour webinar classes. The AEP course is for individuals or teams seeking preparation ISO 10018 professional certification status. ICEE periodically runs regional one-day workshops on ISO 10018 Quality People Management principles and certification.
Resources: The Brand Media Coalition, the only guide to the story-telling power of brands and where to source them for business, event, promotional gifting, and rewards and recognition. 2019 Enterprise Engagement Solution Provider Directory. The only directory of engagement solution providers covering all types of agencies and tactics as well as insights on how to select them.
Communities: The Enterprise Engagement Alliance and Advocate and the Brand Media Coalition free resource centers offering access to the latest research, news, and case studies; discounts, promotions, referrals, and commissions, when appropriate to third-party solution providers from participating coalition solution provider members.
Enterprise Engagement: The Roadmap 5th Edition
The first and most comprehensive book on Enterprise Engagement and the new ISO 9001 and ISO 10018 quality people management standards. Includes 36 chapters detailing how to better integrate and align engagement efforts across the enterprise. (312 pages, $36.)
10-minute short course: click here for a 10-minute introduction to Enterprise Engagement and ISO standards from the Coggno.com learning platform.
• The International Center for Enterprise Engagement at TheICEE.org, offering: ISO 10018 certification for employers, solution providers, and Enterprise Engagement technology platforms; Human Resources and Human Capital audits for organizations seeking to benchmark their practices and related Advisory services for the hospitality field.
• The Engagement Agency at EngagementAgency.net, offering: complete support services for employers, solution providers, and technology firms seeking to profit from formal engagement practices for themselves or their clients, including Brand and Capability audits for solution providers to make sure their products and services are up to date.
• C-Suite Advisory Service—Education of boards, investors, and C-suite executives on the economics, framework, and implementation processes of Enterprise Engagement.
• Speakers Bureau—Select the right speaker on any aspect of engagement for your next event.
• Mergers and Acquisitions. The Engagement Agency’s Mergers and Acquisition group is aware of multiple companies seeking to purchase firms in the engagement field. Contact Michael Mazer in confidence if your company is potentially for sale at 303-320-3777.
Enterprise Engagement Benchmark Tools: The Enterprise Engagement Alliance offers three tools to help organizations profit from Engagement. Click here to access the tools.
• ROI of Engagement Calculator. Use this tool to determine the potential return-on-investment of an engagement strategy.
• EE Benchmark Indicator. Confidentially benchmark your organization’s Enterprise Engagement practices against organizations and best practices.
• Compare Your Company’s Level of Engagement. Quickly compare your organization’s level of engagement to those of others based on the same criteria as the EEA’s Engaged Company Stock Index.
• Gauge Your Personal Level of Engagement. This survey, donated by Horsepower, enables individuals to gauge their own personal levels of engagement.
For more information, contact Bruce Bolger at Bolger@TheEEA.org, 914-591-7600, ext. 230.