The implementation of ESG across business operations has taken increasing precedence in recent years. With further interest in improving investments and initiatives, companies across the Channel have been predominantly focusing on strategies designed to have a positive impact on the environment. However, the integration of ESG goes beyond just environmental initiatives. The Total Experience (TX) puts stakeholders first.
The Total Experience recognises the role each stakeholder has to play in providing the best possible experience. In an attempt to holistically link the experiences of an organisation’s stakeholders, the TX brings together the best elements to ultimately allow the business to exist with intention and lead by example.
What is the Total Experience?
Designed as a way to connect employees and customers, the TX’s intention isn’t to focus on the business’s products or services, but rather the relationship between its stakeholders and their relationship with a Channel business itself.
The TX is made up of four key areas, the multi-experience, the customer experience, the employee experience and the user experience. By creating a symbiotic relationship between each party, a business ensures more effective and efficient operation. In turn, this can provide more meaning, value, and purpose to stakeholders.
By doing so, the Channel is adequately equipped to implement user feedback, focus on employee wellbeing and retain customers. The TX helps position a Channel business as a forward-thinking organisation, one that puts people over profit, and ensures its products, services and presence positively impact stakeholders lives.
The role of social responsibility
Embracing social responsibility is crucial for businesses to realise their ESG potential. By facilitating social activations, Channel organisations can contribute towards improving their total experience (TX) strategy and align with their wider ESG goals. Social responsibility enables companies to support their customers and employees, ensuring a cohesive environment for business development. ESG goals increase a business’ prospects for investment and socially conscious consumers.
Social responsibility within an organisation is essential. Fostering a positive company culture through employee interaction, social events, effective communication, fair pay, good working conditions and personal development plans. This means employees are more likely to actively work toward a future where they value their place of work enough to forgo external opportunities.
Maximising the benefits
Furthermore, research from Gallup analytics showed that per-employee revenue can increase by up to 27% above average when company culture is considered a foundation in a Channel organisation’s operations. This is due to employees feeling motivated to offer higher quality services.
Organisations are starting to understand just how important their commitment to social responsibility is. Globally on average, six in ten employees ‘quietly quit’ their jobs due to lack of company interest or personal development, contrastingly, employee engagement is on the rise following the pandemic and increased to 23% in 2022.
Fostering a people-centric culture
A positive work culture and focus on social responsibility does more than just retain employees, it can also attract new talent. Research from The University of Warwick found that when people are happier, they experience a 12% boost in their productivity levels, revealing that a people-centric culture, where employees feel their needs are met over company profits provides a better experience, therefore generating positive customer perceptions and loyalty in key targets.
There are several strategies a Channel company can use to improve the overall health, well-being and efficiency of employees. Putting employees at the centre of what they do by highlighting professional accomplishments or milestones, continuously training and upskilling, and offering personal development plans all help employees focus on their future professional development.
Furthermore, strategies like offering loyalty programmes to employees or particular customers help create a level of exclusivity with the company. For example, offering an extra day of annual leave per year or increasing discounts highlight that there are tangible outcomes for hard work and loyalty.
Improving operational efficiency
Recent research has found that 43% of workers in the UK feel confident about their career progression, but given that 90% of UK workers are not enthused by their work or workplace, strong company culture can increase UK workers’ engagement from 10%. While an employee’s happiness (or unhappiness) can come from a variety of factors, confidence within the workplace and their speciality can put an employee on a path toward increased productivity and enthused professional development.
Societal welfare is incredibly important to the success of the TX for a Channel company. While bottom lines and internal KPIs are an important part of creating a well-structured company culture regime, a Channel organisation needs to consider the wider societal impacts of its operations.
Compliance for any industry is important, but to drive the TX in the Channel, it is essential. Without a capacity to be held accountable, many businesses can and will take advantage of their hardworking employees. Businesses with high staff turnover rates often need to be more consistent with their services and customer support teams.
Adhering to strict labour, and supply chain laws and partnerships is indispensable for the Channel and the companies that operate within it. Employing ESG compliance frameworks helps to considerately evaluate the impacts a business can have on the environment, society and industry. Adhering to guidelines and standards like the Sustainability Accounting Standards Board (SASB), Global Reporting Initiative (GRI) Standards and the International Sustainability Standards Board also further a business’ impact and accountability to its ESG targets.
Looking to the future
As companies in the Channel continue to undertake measures to support their customers and employees, they must evaluate the impact of social initiatives and how best to harness these practices to improve company culture and performance in the long term.
Employee, user and customer satisfaction underpin the TX, without them, a Channel company is likely to see fewer successful gains, and a drop in customer loyalty. The ‘S’ in ESG goes beyond just organising social events for employees or developing customer loyalty schemes, it’s about cementing stakeholders as working parts of a collective organisation who are working towards the same mission.
Deborah Johnson & Bev Markland
Deborah Johnson was appointed as Agilitas’ dedicated Head of ESG in 2021. With over 15 years of experience in the IT industry, Deborah has accelerated Agilitas’ commitment to sustainability, taking action in the form of an e-Ventory Charter and wider sustainability pledge. Bev Markland is the Chief People Officer. Bev is responsible for establishing best-practice company culture and promoting the team’s DEI initiatives, resulting in a third of Agilitas’ workforce being female.