"PAYING FOR GOOD"

In this episode, you will learn from James about:

• Why your supply chain impacts the sustainability of your business
• How to embed your sustainability agenda into your supply chain
• What sustainable IT procurement is

Your action takeaway from James:
Audit your list of suppliers. How many provide the same products and services? Having too many can be costly, so streamline the list as necessary, using your sustainability expectations and your suppliers’ credentials as selection criteria.

From an IT point of view, consider hosting in the cloud to be more time and energy-efficient.

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In this episode, you will learn from Henicka about:

• the types of claims Acas deals with
• what happens when claims don’t go to court
• the tools available to you to facilitate interactions in the workplace.

 Your action takeaway:

Henicka has the following advice for you:

 As a manager 

Have conversations with your staff as soon as an issue comes up. Make yourself aware of your own policies and guidance and follow them. And learn from your past mistakes!

 As an employee

Raise issues with your manager early because what seems obvious to you might not have crossed their mind. Also, don’t make assumptions without knowing all the facts. There may be good reasons for the way things are, so ask questions. And lastly, as Ghandi said, “be the change you want to see in the world”. Bring a solution to the table because you might be the person with the best idea for resolving the issue at hand.

 As an HR professional

Continue speaking with your employees and managers and ask them what support they need right now.

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In this episode, you will learn from Pankaj:

• about the scopes 1, 2 and 3 types of emissions
• the Greenhouse Gas Protocol standards and tools available to you to identify and quantify your emissions
• the pitfalls to avoid when linking greenhouse gas emissions reduction and incentives.

Your action takeaway:

As a business:
Consider linking your incentives to CO2 emission reductions. If you’re already doing so, well done! Don’t forget to use absolute greenhouse gas reduction metrics. Climate change and our ability to meet the 2015 Paris agreement to limit global warming to well below 2°C compared with pre-industrial levels are impacted by progress on absolute reductions – in other words, the reduction in the total amount of emissions. Some firms are focusing instead on intensity reduction, which refers to the amount of emissions compared to economic output such as the number of employees or revenue.

As a responsible investor:
You have a crucial role to play by quantifying the impact of your investments on greenhouse gas emissions. There is currently not enough transparency on this, despite the Greenhouse Gas Protocol making tools available to you.

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In this episode of the podcast, you will learn from Delilah about:

• the structure of private equity fund managers’ compensation
• the internal impact it has on private equity firms themselves
• the external impact it has on portfolio companies

Your action takeaway:

Delilah calls for:

• responsible private equity investment firms to practise what they preach by setting up profit share and equity ownership plans in their portfolio companies so that all employees can benefit from the value they generate
• private and institutional investors to demand more transparency on private equity compensation structures as part of their due diligence process. This is a very important point that we’ve made on previous podcast episodes.

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In this episode of the podcast, you will learn from Manuela about:

• the various types of customer-related metrics
• what the ‘customer journey’ actually is
• the role of third-party ratings agencies in our decision-making process.

Your action takeaway:

To improve the customer experience, Manuela advises adopting the following five-point approach:

1.       Measure the customer experience.

2.       Measure the outcomes from the customer’s point of view.

3.       Determine how each part of the organisation can improve the customer experience.

4.       Measure progress over time.

5.       Put an action plan together to improve.

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WHO ARE YOUR KEY WORKERS?
In this episode of the 'PAYING FOR GOOD' podcast, you will learn from Emily about the business benefits of joining the 7,000 organisations already accredited by the Living Wage foundation:
> to you as an employer, even if you’re already paying at or above the real living wage
> to your employees and customers
> to your investors.

 Your action takeaway:

Emily encourages all businesses that can afford it to pay the real living wage. Information on how to become accredited by the Living Wage Foundation, case studies and the investor toolkit are available on its website. https://www.livingwage.org.uk/

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In this episode of the 'PAYING FOR GOOD' podcast, you will learn from Alexandra about:

•  the six pillars of the index methodology: justice, climate, good business, equality, skills and poverty
• the winners, movers-up and laggards in the index
•  what the winners have in common.

 Your action takeaway:

Alexandra advocates more transparent ESG disclosures and actions. Like me, she also believes that linking your sustainability agenda to your remuneration policy is a catalyst for real progress towards achieving the UN Sustainable Development Goals by 2030.

 So, how will you improve your ESG disclosures and link them to your remuneration policy?

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In this episode of my ‘PAYING FOR GOOD’ podcast, Charles Cotton, senior performance and reward adviser to the CIPD, and Luke Hildyard, director at the High Pay Centre, ask why the people-related metrics weighting is so low in CEO pay. Is it because:

• We can’t define the HR measures crucial to our organisation?
• We don’t have a common framework to measure them?
• We don’t have the right HR systems in place?

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Happy New Year with good health, resilience and success!

In this short episode of the podcast, I share with you:

• my message of hope and integrity for 2021
• priorities for this first quarter
• what's coming up next in Responsible Reward

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In this episode, you will also learn from Andy about the book the TTF published earlier this year, each of its 12 chapters related to one Finance Development Goal. I contributed to the chapter on Responsible Reward, the integration of sustainability and remuneration, and we discuss three others:

• Leadership: we want leaders with a multi-stakeholder mindset.
• Cultural reform: would there be a need for such a regulatory burden (including in remuneration) if the culture mandated for good, honest and ethical conduct?
• Purposefulness: what’s your strong reason for existence?

 Your action takeaway:

When it comes to remuneration, how can you improve the transparency of your disclosures? Think about whether you’re using the ‘commercially sensitive’ clause too liberally. Nobody wants to share their strategic targets with the competition, but what about your ESG (Environmental, Social and Governance) progress and results? Be proud to share them with the world!

Andy invites everyone to contact the TTF and get involved in this worldwide cause.

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