PermalinkPosted: Jun 23, 2022 by anne Tags: Comments: 0

Summary of Engagement Agency Corporate Sustainability Reporting and Stakeholder Management Training and Support Solutions to Enhance Organizational Performance and Effectiveness of Reporting

 

A training and advisory service on Corporate Sustainability Reporting and stakeholder management systems for boards, asset management, CEOs; financial, legal, marketing, human resources, DEI and other management, educators and students provided in the US and UK by the Enterprise Engagement Alliance's Engagement Agency; by Four C Group Management Consulting in the European Union, and by HC Metrics in Asia and MEAPAC countries.

 

The Enterprise Engagement Alliance, its Engagement Agency implementation organization, and its affiliates are among the very few companies with professionals who have actually created Corporate Sustainability reports that have been independently audited in line with the requirements of the European Union Corporate Sustainability Reporting Directive. Expected to directly affect over 60,000 companies worldwide, and at least 3,000 US firms, not to mention many that do business with them, the law requires detailed disclosures of an organization’s purpose and the treatment of its employees, those of its supply chain and distribution partners, as well as its customers and communities. Leading attorneys expect this new law to be a game-changer, even for US firms. As the only law governing stakeholder management disclosures, its framework likely will become the gold standard of reporting, especially for those organizations who see their stakeholder management practices as a competitive advantage. 

 

This service addresses a critical void in both business and professional education and management: an understanding of stakeholder management, metrics, and reporting as a process for new value creation and better experiences for all stakeholders.

 

The EEA and its affiliates are way ahead of the game by applying ISO (International Organization for Standardization) standards 30414 for Human Capital Reporting and 10018 for People Engagement that use the same strategic and systematic approach ISO 9001 standards have achieved to enhance quality in manufacturing. These services address the fact that human capital, including all stakeholders, is the last bastion of value creation and enhanced sustainable profitability and better stakeholder experiences and are uniquely suited to address the stakeholder-oriented approach of the new European Union reporting requirements. We offer solutions for the companies that will have to comply with the law; smaller companies that either will need to provide unaudited Corporate Sustainability Reports or see them as a potential competitive edge against companies that do not publish them; and for the legal, human capital advisors, and engagement solution providers that support more effective stakeholder engagement. 

 

The EEA education program is based on extensive practical experience and the recognition even by ESG attorneys that the process needs to be lead by business people--a trained executive selected by the CEO or board--and guided at each step with equally trained and experienced ESG legal advisors. Click here for a comprehensive guide to creating a Corporate Sustainability Report and related Stakeholder Management strategy, which includes the parties and qualifications required.

 

Click here for an EEA YouTube show featuring executives from Allianz and Infineon to learn what's involved with an audited ISO 30414 human capital report at multinational companies. Click here for a case study and interview with the chief human resources officer of an SME (small-to medium enterprise) that published an audited ISO 30414 human capital report that included customers and communities as well. All three of these companies published these audited reports as a means of engaging stakeholders, not for compliance reasons.

 

Who Can Benefit

  • Any company that publishes or is considering publication of a Corporate Sustainability Report. 
  • Asset managers who need to understand how to evaluate and take into account the “S” of Environmental, Social, Governance in their portfolio management.
  • 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.
  • Consulting, advisory, and legal firm executives, and professionals seeking to develop expertise and/or a practice in stakeholder management and reporting.
  • Professionals in DEI seeking to address diversity as a business opportunity as well as a social or compliance issue.
  • Front-line management who will need to apply stakeholder principles to their practices.
  • Educators and students in business, management, administration, and human resources (free educational memberships are available)

 

 Services Include

  1. Training and certification in Stakeholder Management principles and Corporate Sustainability Reporting and audits, including for the management and legal personnel involved with the process.
  2. Executive briefings on Stakeholder Management, economics, frameworks, reporting standards, and implementation issues, including the new European Union Corporate Sustainability Reporting Directive. Click here for a complete guide to the new law.
  3. Stakeholder management and reporting analysis.
  4. Stakeholder management and reporting plan development.
  5. A human capital metrics and financial analysis to create a benchmark for performance improvement.
  6. A retention and referral engagement analytics service to identify turnover and referral rates, costs, risks and opportunities.

 

1. Training and Optional Certification in Stakeholder Management and Corporate Sustainability Reporting. 

  • Join the EEA to become trained and certified in and demonstrate your support for and expertise in a Stakeholder Management, Corporate Sustainability Reporting, and ROI of Engagement process that integrates DEI (Diversity, Equity, Inclusion) into an overall strategy to optimize organizational performance and stakeholder experiences. Membership includes opportunities for professional and corporate members to market their expertise or organization’s Corporate Sustainability Reports through our ESM media and other communication platforms.
  • To provide full background on Stakeholder Management and the theories, economics and processes of Corporate Sustainability management and reporting, each corporate member receives
  •  Enterprise Engagement for CEOs: The Little Blue Book for People-Centric Capitalists and Enterprise Engagement: The Roadmap 5th Edition implementation guide, as well as Strategic Management: A Stakeholder Approach by R. Edward Freeman, the academic founder of Stakeholder Management field; Grow the Pie, by Alex Edmans, Professor of Finance, London School of Business; Building Corporate Soul, by Ralf Sprecht, co-founder of the Spark44 ad agency, and Humanizing Human Capital, by human capital experts Dr. Solange Charas, adjunct professor of human capital at three universities and CEO of HCMoneyball, a human capital analytics company. 
  • Member support. Members can access the EEA information and solution provider concierge service via email or phone. Individuals and corporations can be listed as members to promote their expertise or their organizations’ Corporate Sustainability Reports through our ESM media platform at EnterpriseEngagement.org.
  • Basic EEA certification time requirements: About 10 to 15 hours of reading and listening.
  • ROI: EEA Practitioners have the knowledge to guide their companies on a strategic approach to people management, creation of a meaningful Corporate Sustainability Report, and  potentially facilitate a strategic and systematic approach that integrates DEI into human capital practices that will be necessary in the new era of ESG, aka Stakeholder Capitalism. Note: ISO certifications for organizations are available separately through the International Center for Enterprise Engagement.
  • Fees: $450 for annual EEA individual and $1,050 for corporate membership and training. This includes the six books and nine-part recorded stakeholder management training program shared with paid EEA members only, and membership exposure as well. Click here for a sample of the learning program.
  • Custom live video and on-site training available at an additional fee based on requirements.
  • $350 for those who wish to receive the Certified Engagement Practitioner based on a 45-60 minute live video test on a pass/not pass basis, good for five years.

 

2. Executive Briefings and Assessment for Boards, C-Suite Executives, Asset Managers, Attorneys

  • Conduct a stakeholder management and human capital briefing for the CEO, CFO and C-suite to demonstrate how human capital management is an opportunity for value creation and not just a compliance issue.
  • Many boards, CEOs other C-suite executives, attorneys or asset managers are unaware of the coming European Union Corporate Sustainability Directive that may force public companies to disclose more information on workforce engagement, demographics, diversity, professional development, wellness and safety. Even private companies will be forced to comply by public companies seeking conforming suppliers.
  • Help educate the management team on the opportunities, risks, and economics, and the various considerations related to external and internal reporting.
  • Provide a thumb nail stakeholder management gap analysis to identify risks, opportunities, and metrics.
  • Deliverables: preliminary gap analysis and/or a basic executive briefing outlining key issues. 
  • Time requirements for a preliminary gap analysis: Usually five hours of EA time (90 minutes for briefing, 3 ½ hours to provide the thumb-nail gap analysis that includes a concise written report from the Engagement Agency with high-level recommendations, metrics, and potential ROI.)
  • Fees: Based on time and requirements.

 

3. Stakeholder Management Reporting Analysis

  • Benchmark your organization. Conduct an analysis of an organization’s current human capital reporting to the Securities & Exchange Commission to determine the thoroughness of current reporting related to human capital management and DEI.
  • The Engagement Agency team analyzes all current disclosures against the ISO-based reporting grid.  
  • Deliverable: You receive a report that “grades” your organization’s human capital reporting against best practices and identifies potential areas of improvement and provides recommendations.Time: 3-4 weeks
  • Fees: Based on the size of the company; whether it will have to comply with the EU CSRD law, and any analytics support required.

 

 4. Strategic People Management and Reporting Plan Development 

  • Conduct a thorough human capital analysis of your enterprise that integrates DEI into the process in a way that optimizes ROI. Using a human capital reporting framework based on ISO 30414 Human Capital and ISO 10018 People Engagement standards to align with the stakeholder orientation of the EU CSRD, the EEA’s Engagement Agency can provide a highly effective gap analysis of human capital practices and metrics, including employees, customers, supply chain and distribution partners, and communities to determine their ROI and alignment with organizational goals and the degree to which the organization is profiting from DEI.
  • This process includes a 60 minute to five-hour series of meetings in total with department heads in video or live sessions to assess practices against the 14 most critical people issues connected to sustainable performance outlined in the framework above.
  • Deliverables: A report that includes the gap analysis; potential human capital metrics with which to drive your business; issues to be addressed; recommendations on external and internal reporting, and the potential ROI of addressing the issues in the gap analysis.  Click here for an overview of the process of creating a human capital report and an example of a report from a small, fast-growing international technology company. Click here for a copy of the final ISO certified report. Under this plan, the organization’s internal faciliator of the process participates as part of training.
  • Time requirements: About three to five hours of company management time, depending on the size of the company. The report is delivered within three weeks of completion of executive meetings.
  • ROI. A plan to tangibly optimize organizational results through a strategic approach to managing all stakeholders that bake DEI into the process as a measurable business opportunity. Included are recommendations for internal and external reporting and return-on-investment analysis.
  • Fees: Based on the size of the company; whether it will have to comply with the EU CSRD law, and any analytics support required.

 

5. Stakeholder Management Reporting, Metrics, and Analysis

  • Your Engagement Agency team can help you develop an effective human capital reporting platform for internal management and external reporting purposes, including a dashboard that tracks all-agreed upon metrics.
  • For an optional additional fee, the Engagement Agency provides the HCMoneyball metrics platform to automate reporting on all key information, including benchmarking against key competitors or industry.
  • The dashboard provides metrics predictive of financial performance, including Human Capital ROI and Value Add; revenues, costs, and turnover of customers, employees, and distribution partners; DEI and Training and Development effectiveness; organizational culture, health and safety.
  • Using HCMoneyball SaaS technology, we can help you set up an automated, real-time report dashboard that can benchmark your organization against industries or competitors, based on data.
  • Time requirements: 2 to 4 weeks, depending on whether the organization’s metrics and data sources are already established or need to be created.
  • Fees: Based on the size of the company.

 

Advantages of the Stakeholder Management Analysis Process

  • As an international organization involving almost every country in the world, ISO regards human capital and DEI first and foremost as an opportunity for organizations to optimize their performance by having the broadest possible marketplace of engaged employees, customers, supply chain and distribution partners, as well as welcoming communities.
  • ISO standards closely align with the EU CSRD law by addressing all stakeholders and by reporting on the organization's purpose, goals, and objectives; tactics used to achieve them; metrics used to evaluate the results, and processes used to continuously improve. 
  • ISO standards provide a clear, comparable,  objective, and auditable roadmap for improvement guided by human capital experts with the intent to enhance organizational performance and stakeholder experiences.
  • ISO standards are recognized around the world; are already followed by millions of companies, and are considered a form of safe harbor when confronted with dubious litigation.
  • ISO standards provide a world-recognized format for comparison that respects an organization’s need to protect key competitive data while having independently verified the information disclosed in the human capital report for those that do not have to comply with the EU CSRD. 
  • The ISO process includes a highly effective DEI analysis because it addresses all stakeholders and business processes, rather than segregating the issue, and looks at both practices and metrics.

 

6. Retention and Referral Engagement Analytics Service 

Organizations seeking a more strategic and systematic approach to people management or who are either going to have to or seek to report on their people management may wish to get a better understanding of the cost and causes of turnover and referrals before making public reports. This new confidential analytics service from the Engagement Agency advisory service of the Enterprise Engagement Alliance at TheEEA.org, offered in conjunction with Rick Garlick, Ph.d., a highly experienced data and analytics professional with extensive experience in the engagement and loyalty fields.

 

This new service from the Enterprise Engagement Alliance’s Engagement Agency provides advisors and their clients with a confidential, concrete means of identifying the true rate of turnover and referrals, the causes, and the costs and benefits, along with specific recommendations based on a combination of qualitative and quantitative data. The service is provided by Garlick’s Rick Garlick & Associates advisory firm, which draws upon experts in all areas of analytics as needed and insights as needed to meet client needs. The findings can be used for internal purposes or, when appropriate, for thought leadership publicity purposes. 

 

Methodology. The approach taken is based on ongoing research conducted by Dr. Garlick and his colleagues that have calculated the cost of turnover based on human resources, behavioral, and employee survey sources from multiple clients. The work is further enhanced through qualitative methods to identify the causes for turnover and referrals. The analysis and consulting engagements also use employee surveys and informal focus groups, if desired, that are specifically designed to identify the perceived reasons for turnover and referrals to create an informed strategy. The service was used in part on a recent study conducted for employee recognition firm WorkProud, but includes the addition of an employee surveys and informal focus groups if desired  specifically designed to identify the perceived reasons for turnover and referrals to create an informed strategy. The studies can specifically identify the costs of turnover, the economics of referrals, and the conditions necessary to reduce turnover and enhance referrals.

 

Segmentation. The same methodology can be applied more narrowly to specific employee groups, such as salespeople or engineers, or can be analyzed by demographics and ethnicity, based on the availability of data. The goal is to marry quantitative data with qualitative data to gain clear insights into why people are leaving or staying, failing to refer or actively refer talent, and to identify a strategy that retains the right people. It is particularly useful for organizations seeking to understand their ability to attract and retain specific types of employees to enhance diversity, equity, and inclusion performance.

 

Who can benefit. incentive, recognition, and loyalty companies and their clients that use engagement technologies required to correlate turnover with behaviors.

 

Chief practitioner: Rick Garlick has extensive experience in the world of engagement, rewards and recognition, and loyalty. In addition to his research advisory practice, he is Chief Research Advisor for the Incentive Research Foundation, where he helps direct and implement the organization’s research strategy. Prior to that, he has held long-term positions at such companies as Magid, J.D. Power, MaritzCX, and Gallup.

 

Who Is the Enterprise Engagement Alliance

The EEA is the world’s outreach advisory service for the implementation of Stakeholder Capitalism development of ISO conforming human capital reporting. It was founded and is managed by a diverse of community of experts who have served on ISO human capital committees, including ISO 30414 Human Capital and ISO 30415 Diversity, Equity, and Inclusion standards. EEA’s founders were the first to propose the creation of ISO employee engagement standards.

 

Senior Advisors

 

Bruce Bolger, Founder, Enterprise Engagement Alliance at TheEEA.org, and principal of one of the first organizations to utilize ISO 30414 Human Capital and ISO 10018 People Engagement standards.

 

Dr. Heiko Mauterer, Board Member, Four C Management consulting, and a member of the working group that created the ISO 30414 human capital standard.

 

Zahid Mubarik, Founder, HC Metrics, and a member of the working group that created the ISO 30414 human capital standards.

 

Eric Darrisaw, Founder, Lazarus Advisors, a boutique investment advisory firm focused on ESG and DEI issues. He serves on the board of the Interfaith Center on Corporate Responsibility.

 

Rick Garlick, Principal, Rick Garlick Associates and Chief Research Advisor for the Incentive Research Foundation, with extensive research experience at such leading firms as Magic, J.D. Power, MaritzCX, and Gallup. 

 

The Engagement Agency draws upon other advisors as needed, starting with experts in all areas of engagement.