What investors need to know about employee relations in retail
From 2013-2015, the Principles for Responsible Investment (PRI), the leading global network for responsible investors, coordinated a collaborative engagement with the aim of improving employee relations reporting and performance at 27 major retailers. Carnstone supported the process as the primary research partner, analysing in detail the extent to which employee relations are financially material and tracking the progress made during the engagement. The findings and insights have now been summarised in a guide, laying out why and how investors should engage with retailers on topics such as training, turnover rates and employee engagement. The research and subsequent engagement enjoyed the support of 24 investors with US$1.5 trillion of assets under management.
The new Gender Pay Gap reporting regulations produced a flood of data in April 2018. Carnstone has sifted through it to provide like-for-like comparisons for the FTSE 100 and FTSE 250. Which companies have the highest gaps in their sector and which the lowest? Who has the most equal pay in the FTSE 100? Which sectors are most equal and which least? This Review sets the data out simply and comparably to form an essential reference document for this first year’s disclosures.
Obviously, all companies have a desire to stay alive and be profitable. But above and beyond mere survival, increasingly we expect businesses to play a positive role in society or at least reduce their negative social and environmental impacts as much as possible.
How do such concerns apply to the media sector? What are the key impacts of media companies? How will society hold them to account in the future?
In our newest report, The Future of Responsible Media, we articulate four interrelated challenges, the management of which, we believe, will set ‘good’ companies apart from the ‘bad’ over the next 10 years. We summarise these four challenges as follows:
- The future of privacy – getting serious about understanding users’ appetite for
personalised content vs privacy;
- Coming to grips with being movers – owning up to the fact that media content doesn’t just mirror society, it moves it;
- Becoming organisations without walls – finding ways of managing impacts in an
increasingly splintered media landscape; and
- Managing the workplace of the future – rethinking existing notions of ‘purpose’,
‘progression’ and ‘hierarchy’ as the competition for critical talent heats up.
Further to this, we identify eight social and technological forces that are likely to transform society generally and the world of media more specifically.
The report is based on rigorous desk-research, the collective insights of the 25 companies participating in the Responsible Media Forum as well as input from some of the brightest sparks in business, politics and academia.
We were asked by a major investment manager to assess the state of diversity and inclusion (D&I) among a group of 200 major companies, all listed in Asia and the Pacific.
There is no one way of doing D&I, especially in a region as culturally and economically diverse as this. As a result, there are no established benchmarks or frameworks that can be readily applied to assess performance. Noting this, we created our own template to understand and rank companies’ D&I performance.
Dr. Reddy's Laboratories, the Indian pharmaceutical company, came out top, closely followed by CSL (Australia) and Hang Seng Bank (Hong Kong). However, our findings indicate that the majority of companies in the research universe largely ignore – or at least show no signs of managing – D&I as a strategic business issue. This suggests that awareness and understanding of D&I as a driver of competitive advantage is limited to ‘an enlightened few’.
The report includes case studies and sets out a framework for companies interested in improving their D&I performance.