The Stakeholder Capitalist's Toolkit
As can be seen in the ESM feature, The Perfect Company: Anatomy of an Ideal Practitioner of Stakeholder Capitalism Seen Through Its Human Capital Report, implementation requires strategic and systematic management to align the many tactics already used in organizations toward supporting common goals, values, and metrics. This article outlines the many tools of engagement involved with each facet of the implementation of the “S” of Environmental, Social, Governance, otherwise known as Stakeholder Capitalism.
During the 1980s, US companies actively addressed quality issues using a wide variety of processes and tools, but improvement did not occur until the 1990s when more organizations stepped back and implemented a CEO-led strategic and systematic approach with clear metrics. The same conditions ad hoc, reactive approach exists in people management today. Organizations spend considerable sums on engagement tactics but most often disjointed programs directed toward short-term issues or having little alignment with strategic organizational goals.
This article provides an overview of the tools used by an “Ideal” company based on Stakeholder Capitalism principles. Addressing engagement across the enterprise can create significant growth opportunities for solution providers who understand how to help organizations better manage their people through a strategic, measurable approach aligned with other organizational goals, values, and other activities.
A fundamental premise of Stakeholder Capitalism, and indeed its advantage is that organizations can profit by solving business and social problems. Below is a list of the types of solutions to address the key areas of people management across the enterprise. Go to the EEXAdvisors.com marketplace to find solutions or contact the Engagement Agency below. You can learn all about the field in over 30 panel discussions with experts in all aspects of the field on the Enterprise Engagement Alliance's Youtube channel.
To learn how to implement the principles of Stakeholder Capitalism for your business, join the Enterprise Engagement Alliance to access the only formal training program focusing on the "S" of Environmental, Social, Governance (ESG), otherwise known as Stakeholder Capitalism.
To learn how to implement the principles of Stakeholder Capitalism for your business, join the Enterprise Engagement Alliance to access the only formal training program focusing on the "S" of Environmental, Social, Governance (ESG), otherwise known as Stakeholder Capitalism.
If your company provides any these services, it can benefit from a free basic listing in the Enterprise Engagement Alliance’s marketplace of engagement solutions. See contact information below.
Outsourced Solutions Used in Stakeholder Capitalism Implementation
1. Leadership
• Strategy, gap analysis, reporting, and managed outsourcing advisory firms.
• Leadership development, coaching.
• Business Operating Systems and guides.
• Assessment and feedback systems and advisory services.
• Human capital management and reporting experts; benchmarking technology.
• Strategic and tactical Diversity, Equity, Inclusion (DEI) advisors.
2. Compliance
• HR management systems.
• Regulatory advisory firms.
3. Costs
• HR management systems.
4. Diversity, Equity, Inclusion
• Advisory firms specializing in recruiting, branding, employee sensitization, and team building.
• Advisory firms focusing on human capital management and reporting strategies that include DEI as a core principle and opportunity.
5. Occupational Health and Safety
• Occupational health and safety advisory firms.
• Incentive and recognition firms with services, technologies and rewards that focus on the wellness and safety markets.
6. Organizational Culture
• Brand architecture and alignment advisory firms that help organizations develop 360-degree branding.
• Full-service engagement agencies to help design and manage outsourcing of strategic and tactical plans.
• Enterprise Engagement software applications that manage and align engagement tactics across stakeholders and the organization.
• Feedback and assessment technologies and services.
• Culture, appreciation, and recognition firms.
• Compensation and workforce census experts.
• Organizational psychologists.
• Multi-media communications experts.
• Incentive and recognition companies.
• Motivational event services, including program designers, communications, and hospitality resources, both for live and virtual events.
• Brands and non-retail brands, gift card, and travel experiences used in gifting, recognition, and appreciation.
• Providers of employee benefits and support, including Personal Prosperity Assistants.
7. Productivity
(See section 6, Recruitment, Mobility and Turnover, and section 10, Skills and Capabilities.)
8. Recruitment, Mobility, Turnover
• Talent branding and recruitment firms, including those specializing in DEI and in neuro-divergent candidates.
• Job design experts.
• See also section 6, Organizational Culture, and section 10, skills and capabilities.)
9. Employee Bench Strength
• Job design experts.
• Human capital analytics advisors.
10. Skills and Capabilities
• Learning management system experts.
• Knowledge management experts and systems.
• Learning and knowledge management technologies.
• Culture, appreciation, and recognition coaching and training.
• Gamification and testing.
• Diversity, Equity, Inclusion and sexual harassment training.
11. Workforce Availability
• Compensation and workforce census advisors.
12. Customer Engagement
• Customer experience (CX) experts and technologies to align customer touchpoints and information.
• Loyalty services and customer rewards and gifts using brands, travel, gift cards, and non-retail brands.
• Voice-of-the-customer systems.
• Promotion suppliers.
• Prescriptive analytics advisors.
13. Supply Chain and Channel Partners
• Assessment and feedback solutions.
• Diversity, Equity, and Inclusion experts in supply chain management.
• Channel incentive, motivational event and communications providers.
14. Community Engagement
• Strategic philanthropic advisory firms.
For More Information
Or, to find engagement solutions, contact:
Founder, Engagement Agency
914-591-7600, ext. 230
Master the “S” of Environmental, Social, Governance (ESG), A.k.a. Stakeholder Capitalism
The Enterprise Engagement Alliance at TheEEA.org is the world’s first and only organization that focuses on outreach, certification and training, and advisory services to help organizations achieve their goals by fostering the proactive involvement of all stakeholders. This includes customers, employees, distribution and supply chain partners, and communities, or anyone connected to an organization’s success.
Training and Thought Leadership
- Founded in 2008, the Enterprise Engagement Alliance provides outreach, learning and certification in Enterprise Engagement, an implementation process for the “S” or Social of Stakeholder Capitalism and Human Capital Management and measurement of engagement across the organization.
- The Enterprise Engagement Alliance provides a training and certification program for business leaders, practitioners, and solution providers, as well as executive briefings and human capital gap analyses for senior leaders.
- The EEA produces an education program for CFOs for the CFO.University training program on Human Capital Management.
- Join the EEA to become a leader in the implementation of the “S” of ESG and Stakeholder Capitalism.
Engagement Digital Media and Marketplaces
- The ESM information portal and The Enterprise Engagement Advisors Network solution provider marketplace cover all aspects of stakeholder engagement, and the EEA information library lists dozens of resources.
- The RRN information portal and Brand Media Coalition marketplace address the use of brands for gifting, incentives, recognition, and promotions. The BMC information library provides information and research resources.
Video Learning
The EEA Human Capital Management and ROI of Engagement YouTube channel features a growing library of 30- to 60-minute panel discussions with leading experts in all areas of engagement and total rewards.
Books
- Enterprise Engagement for CEOs: The Little Blue Book for People-Centric Capitalists. A quick guide for CEOs.
- Enterprise Engagement: The Roadmap 5th Edition implementation guide. A comprehensive textbook for practitioners, academics, and students.
Enterprise Engagement Advisory Services
The Engagement Agency helps:
- Organizations of all types develop strategic Stakeholder Capitalism and Enterprise Engagement processes and human capital management and reporting strategies; conduct human capital gap analyses; design and implement strategic human capital management and reporting plans that address DEI (Diversity, Equity, and Inclusion), and assist with managed outsourcing of engagement products and services.
- Human resources, sales and marketing solution providers profit from the emerging discipline of human capital management and ROI of engagement through training and marketing services.
- Investors make sense of human capital reporting by public companies.
- Buyers and sellers of companies in the engagement space or business owners or buyers who seek to account for human capital in their mergers and acquistions.
For more information: Contact Bruce Bolger at Bolger@TheICEE.org or call 914-591-7600, ext. 230.
