Zahid Mubarik, whose company,
HR Metrics in Pakistan has provided certification and instruction to nearly 400 professionals in MEAPAC, Japan, and now the US, notes that the "ISO 30414 Human Capital standards cover most of the metrics involved with workplace management in the new EU CSRD and remain the only human capital standards that are independently auditable under long-established ISO (International Organization for Standardization) practices."
According to Bolger, the new service is based on a market analysis finding not only that most corporations are not yet prepared for this new level of stakeholder management disclosure, but that “even the management consulting and corporate communications companies focused on the market will have to elevate their game, as the old public-relations oriented approach to corporate sustainability reporting is on its way out. Furthermore, those advisory firms that assist their clients with developing corporate sustainability reports cannot be the same organization that audits and certifies them."
An Interdisciplinary Approach
Dr. Mauterer continues, “Based on our experience, a meaningful corporate sustainability report that will stand up not only to review by customers, employees, supply chain and distribution partners, and communities, but potentially statutory disclosure requirements, requires an inter-disciplinary approach that starts with CEO and C-suite commitment to an ROI- rather than compliance-based approach; alignment of stakeholder management practices, metrics, and reporting across the enterprise, and strong communications not only in the creation but the marketing of the final annual corporate sustainability report.”
Click here for a primer on how to create a corporate sustainability report in conformance with the new
EU CSRD.
Backed by the force of law in the world’s third largest economy, and equally applicable to companies that do business with those companies, the EU Corporate Sustainability Reporting Directive
is expected to drive a “tsunami” of change in business by requiring companies to disclose specific information on employee pay, pay equity, diversity, wellness, safety, as well as practices of their supply chain and distribution partners, in addition to detailed information on customer and community engagement practices, metrics, and outcomes.
Says Bolger, “This transatlantic combination of human resources, ISO standards, marketing, and regulatory expertise and resources combines unparalleled expertise that will be required of organizations that see the new standard as an opportunity. This includes the development of the corporate sustainability business and reporting plan; including clarification of internal and external brand architecture, goals and objectives; stakeholder management analytics and data collection, with strong communications components every step of the way through to the final annual report, and of course appropriate third-party legal counsel, especially for those 60,000 or more companies that will be subject to the new law.
Access to the Independent Auditors
The service can also recommend attorneys and the world’s most qualified human capital auditors.
Through an affiliation with the
International Center for Enterprise Engagement, the parties are helping to develop an independent community of rigorously trained practitioners who will be capable of auditing and/or creating CSRD conforming Corporate Sustainability Reports. These currently include
Dr. Mauterer, who serves on the committee that created the standard and is among the few individuals to have audited the human capital reports of major companies;
Zahid Mubarik, CEO, Founder of
HR Metrics in Pakistan, who has developed the world’s largest cohort of ISO 30414 trained practitioners;
David Simmons, of
HCM Metrics in Great Britain;
Adi Amin Adi, head of human resources for
Money for Finance in Jordan and
Dr. Saqlain Sher, and HR consultant, certified by ICEE, and
Bruce Bolger, Founder of ICEE, who has conducted the only ISO 10018 People Engagement audits.
The founders believe the service addresses a critical void in both business and professional education: an understanding of stakeholder management, metrics, and reporting as a process for new value creation and better experiences for all stakeholders.
Who Can Benefit
Summarizes Bolger, “Services include everything we’ve learned from our extensive experience about what is required to implement an independently auditable, meaningful corporate sustainability report in the word and spirit of the European Union law and how to access third-party auditors who have the skills, integrity, and their own certifications to help enforce quality assurance for the claims made in corporate sustainability reports.”
Dr. Mauterer says the “The new EU-Based Corporate Sustainability Reporting Standard is designed to benefit:
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Asset managers who need to understand how to evaluate and consider the “S” of Environmental, Social, Governance in their portfolio management.
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Boards, CEOs, C-suite executives in finance, marketing, sales, and marketing who need to understand the principles of stakeholder management, metrics, reporting and how to create new value through people and better experiences in a manner taught at very few schools.
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Executives in marketing, HR, or communications who seek to seize the leadership opportunity.
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Consulting, advisory, and legal firm executives, and professionals seeking to develop expertise and/or a practice in stakeholder management and reporting.
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Professionals in DEI seeking to address diversity as a business opportunity as well as a social or compliance issue.
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Front-line management who will need to apply stakeholder principles to their practices.
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Educators and students in business, management, administration, and human resources (free educational memberships are available.)
For More Information
Bruce Bolger, Founder
Enterprise Engagement Alliance at
TheEEA.org
914-591-7600, ext. 230
Bolger@TheEEA.org
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Click here to learn about the EEA’s bi-partisan Change.org petition to keep politicians out of business management.
Profit From the “S” of Environmental, Social, Governance (ESG)
Through education, media, business development, advisory services, and outreach, the Enterprise Engagement Alliance supports boards, business analysts, the C-suite, management in finance, marketing, sales, human resources and operations, etc., educators, students and engagement solution providers seeking a competitive advantage by implementing a strategic and systematic approach to stakeholder engagement across the enterprise. Click here for details on all EEA and RRN media services.
1. Professional Education on Stakeholder Management and Total Rewards
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Become part of the EEA as an individual, corporation, or solution provider to gain access to valuable learning, thought leadership, and marketing resources.
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The only education and certification program focusing on Stakeholder Engagement and Human Capital metrics and reporting, featuring seven members-only training videos that provide preparation for certification in Enterprise Engagement.
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EEA books: Paid EEA participants receive Enterprise Engagement for CEOs: The Little Blue Book for People-Centric Capitalists, a quick implementation guide for CEOs; Enterprise Engagement: The Roadmap 5th Edition implementation guide; a comprehensive textbook for practitioners, academics, and students, plus four books on theory and implementation from leaders in Stakeholder Management, Finance, Human Capital Management, and Culture.
2. Media
3. Fully Integrated Business Development for Engagement and Total Rewards
Strategic Business Development for Stakeholder Management and Total Rewards solution providers, including Integrated blog, social media, and e-newsletter campaigns managed by content marketing experts.
4. Advisory Services for Organizations
Stakeholder Management Business Plans; Human Capital Management, Metrics, and Reporting for organizations, including ISO human capital certifications, and services for solution providers.
5. Outreach in the US and Around the World on Stakeholder Management and Total Rewards
The EEA promotes a strategic approach to people management and total rewards through its e-newsletters, web sites, and social media reaching 20,000 professionals a month and through other activities, such as:
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-based HR Metrics have created the first formal speaking, education, and advisory service for creating auditable Corporate Sustainability Reports aligned with the framework of the new European Union Corporate Sustainability Reporting Directive (CSRD). The founders believe the service provides a unique combination of unparalleled global experience with human capital standards and audits in stakeholder management and the inter-disciplinary skills required, including business operating systems, metrics, analytics, internal and external communications, technology, and other stakeholder management resources.
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This new CSRD-compliant Corporate Sustainability Reporting service provides briefing, public speaking, training and advisory services in the US and UK by the New York-based Enterprise Engagement Alliance's Engagement Agency; by Germany-based 4C GROUP in the European Union, and by Pakistan-based HR Metrics in Asia and MEAPAC. The service is for boards; asset management; CEOs; financial, legal, marketing, human resources, DEI and other management, educators and students. Over 60,000 companies, including at least 3,000 of the largest companies in the US and many in their distribution and supply chain will have to comply with a law starting in 2025 reporting 2024 data against 2023. The reports will be in a worldwide available digital database offering an unparalleled level of detail on organizational practices and metrics of large enterprises related to their engagement with all stakeholders and the environment. In addition, many companies that publish corporate sustainability reports will need to rethink them, based on the higher level of specificity required of the new reporting standards that could make current reports look like greenwashing,” points out Bruce Bolger, Founder of the Enterprise Engagement Alliance.
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