Contemporary Issues in Management Level 6

Corporate Social Responsibility Corporate Sustainability Employee Engagement & Retention & Change Management

Aims & Objectives

You will understand: Current issues Develop personal views on these issues and Learn about individual businesses affected by these issues

Corporate Social Responsibility

Holmes & Watts (2007)"Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large

Corporate self-regulation should be integrated into a business model CSR is to embrace responsibility for the company's actions and encourage a positive impact on: employees, stakeholders, environment, public interest, community growth

Corporate Social Responsibility

Worldwide importance.... Article 5 of the 2006 Chinese Company Law, requires companies to undertake social responsibility in the course of conducting business (Lin, 2010).

Source Coca Beans from Fairtrade farmers in Ghana RainForest Alliance

The FTSE4Good Index Series is a valuable tool used by UK companies to objectively measure performance against globally recognised CSR standards.

Corporate Sustainability
This phrase was derived from 1987 The Brundtland Commissions Report Our Common Future which described sustainable development as, development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
Energy source > Healthy Living > Packaging > Climate protection > Workplace> Communities Transparency Engaging and open environment within the company as well as the community will improve performance and increase profits Resource Development New solutions that improve recycling and waste redirecting can ultimately reduce costs and increase profits

Employee Development People are the most important renewable resource and therefore, are the strongest asset to any organisation

Corporate Sustainability
LIVE POSITIVELY focuses on seven core areas key to our business sustainability, with measurable goals and metrics for the Company and the Coca-Cola system.

Employee Engagement & Retention

Employee Engagement is the extent to which workforce commitment, both emotional and intellectual, exists relative to accomplishing the work, mission, and vision of the organisation.
Only 31% of employees are actively engaged in their jobs. Blessing & White 2010 Learning and Development plays a big part in employee performance & morale

Why?
Successful engagement will ultimately lead to employee desirable business outcomes such as; retention of talent customer service individual performance team performance bottom line performance A happy employee is a good employee
Best practice in people management

Employee Engagement & Retention

2010 Employee Rewards and Benefits News
Asian IT firm hailed as model for employee engagement

Employee Engagement & Retention

Employee Engagement in China, 1996 to 2006
Conversely, companies with low levels of engagement saw operating income drop more than 32% and earnings per share decline 11%.

2006 Sandra ONeal and Roger Maitland Examined 50 Chinese companies The companies with high employee engagement had a 19% increase in operating income and almost a 28% growth in earnings http://www.chinatelecomper share. h.com/eng/global/home.htm China Telecom was Awarded the "Best Managed Company - China 2009" & 2008 by FinanceAsia Best employment contributor 2009 Most admired companies 2007

Change Management
Is a structured approach to shifting/transitioning individuals, teams, and organisations from a current state to a desired future state. It is an organisational process aimed at empowering employees to accept and embrace changes in their current business environment
Examples of change Missionary changes Strategic changes Globalisation Acquisition & disposals Operational changes (including Structural changes) Technological changes Changing attitudes and behaviours Helping change Understanding for need for change Communication Involvement Training Personnel counselling Monitoring of implementation