The Fast-Growing World of Enterprise Engagement

Environmental, Social and Governance (ESG) is the new Return on Investment (ROI). ESG practices have become critical drivers of investor returns, and value creation for employees, customers, supply chain and distribution partners and communities. Also known as "Stakeholder Management" and "Stakeholder Capitalism," ESG best practices make work mean more.

You can enhance both organizational performance and stakeholder experiences by using our technology and the information in the CarltonOne Knowledge Center to build a gifting, recognition, incentive, or loyalty program.

Our technology aims to accelerate Enterprise Engagement the same way CRM technology has unlocked the value of customer relationship management. We help organizations align all stakeholder interests toward common goals and expectations that support new ESG opportunities. We make it easy for organizations to actively engage and meaningfully inspire their stakeholders with a single platform offering unprecedented efficiency and measurability. 

Developed in 2009, Enterprise Engagement is the practical implementation of a 1980s-based management strategy known as Stakeholder Theory, defined in 1983 by Edward Freeman, a professor at the University of Virginia. It highlights the interconnected relationships between a business and its customers, suppliers, employees, investors, communities, and others who have a stake in the organization. The theory suggests that to maximize returns, a company must maximize value for all stakeholders — not just shareholders. This value should include traditionally intangible efforts, like creating a safe environment for employees, customers, and communities.

The broader field of Stakeholder Management, an overall management system that involves all operational, administrative, and financial systems involved in running a company, also includes the need for:

• Enterprise Engagement strategies and tactics to engage, equip, and empower all stakeholders in a common purpose, goals, objectives, and expectations.
• Creating authentic, meaningful engagement experiences with CarltonOne’s incentive, recognition, gifting, and loyalty technology, will help any organization optimize value in the same way that CRM helps optimize customer relationships.

Using Processes and Technologies to Align Organizations

Stakeholder Management and Enterprise Engagement integrate and align a company's resources and marketing processes toward common financial goals and other organizational objectives. The process of aligning engagement tactics was developed by business academics and Enterprise Engagement Alliance in 2009, and standardized through the ISO 10018 People Engagement standards released by the International Organization for Standardization in 2015. Both are consistent with the strategic approach of Stakeholder Theory and the highly successful ISO 9001 Quality Management standards, which helps proactively and systematically enhance quality in manufacturing.

The technologies provided by CarltonOne support these processes, as they can be used to align an organization's resources toward common goals and values by delivering:

• Clear sense of mission – defining the purpose of the organization.
• Clear goals – understanding of what to expect from the organization.
• Emotional bonding – building a sense of community.
• Capability – providing people with the necessary resources and knowledge.
• Empowerment – giving people the power to make decisions.
• Fun – research shows that fun is a powerful motivator.
• Support – reinforcing the sense of being valued.
• Task value – fostering a feeling of purpose.
• Feedback – creating the ability for all stakeholders to contribute.
• Measurement – carefully tracking results against financial and other goals.

The Tactics of Enterprise Engagement

Our CarltonOne platform enables rapid enterprise-wide implementation in a way that makes it easy to test an engagement program in a specific division or to achieve a specific goal.

1. Communications — getting the story out to each stakeholder in an engaging and inspiring way that reinforces the organization’s goals and sets clear expectations.
   
2. Feedback — creating an open channel for stakeholders to make suggestions or alert the organization to challenges.
   
3. Stakeholder voice — collecting real-time information on how people feel.
4. Learning — creating fun ways for people to learn new skills that support organizational purpose and goals.
5. Community — creating organizational social media walls, peer-to-peer recognition platforms, and manager-to-employee recognition programs to reinforce the organization’s purpose, values, and goals.
6. Recognition — keeping all stakeholders focused on their goals by expressing appreciation in an authentic and meaningful way.
7. Incentives — encouraging performance through means that don’t get confused with compensation.
8. Referrals — making it easy for employees, customers, and other stakeholder to recommend the organization in ways you can measure.
9. Wellness, health, and safety — motivating employees to focus on achieving health goals and enhancing safety in the workplace.
10. Support — providing special benefits that add value to the relationship between the organization and its customers, employees, and other stakeholders.
11. The Environment — engaging employees in activities that help the environment in a way that creates more meaning in their work.
12. Rewards — offering stakeholders the right selection of rewards (including brands, gift cards, or travel) based on the campaign and audience demographics.
13. The Efficiencies of Alignment — CarltonOne’s Enterprise Engagement technologies make it easy to align all the above tactics on a single platform in the same way CRM can manage every touchpoint in a customer relationship.
14. Unprecedented Predictive Analytics — CarltonOne’s solutions enable organizations to:

• Measure employee or other stakeholder engagement based on surveys and participation in the organization’s activities.
• Correlate participation in various engagement efforts against turnover and an employee or customer's willingness to refer your company.
• Better predict the types of organizational activities that help achieve goals and measure the costs of disengagement.
• Gauge the effectiveness of Diversity, Equity, and Inclusion (DEI), wellness and safety, sales incentives, and customer and distribution partner loyalty efforts.
• Identify activities that might cause stakeholders to disengage.

The Return on Investment

Enterprise Engagement offers concrete benefits by fulfilling an organization’s stated purpose and achieving its financial goals. You can measure the success of your Enterprise Engagement efforts based on:

• Financial goals, productivity, quality, sales, safety, wellness, retention, and willingness to refer.
• Human Capital ROI, the sum of the return on investment from organizational spending as well as the Human Capital value add(a calculation of how much an organization’s human resources investment contributes to profitability).