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.

 

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:

Bruce Bolger

Founder, Engagement Agency

914-591-7600, ext. 230

Bolger@TheICEE.org