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SECTIONS6-10ofStrategicDiversityPlan.pptxSECTIONS 6-10
6. Marketing, Advertising & Branding
7. Corporate Social Responsibility
8. Vendor & Supplier Diversity
9. Customer Experience
10. Measurement & Accountability
Section 6
Marketing, Advertising and Branding
How Marketing Helps Communicate Diversity
Customers and potential employees are looking for themselves when they look at your materials
Communicating Diversity allows people to compare you to competitors and choose who to do business with
Diverse spokespeople help diverse people connect with your brand
All audiences must be considered:
Current customers
Prospective customers
Future employees
The public; government entities; the legal system
Diversity Marketing Checklist
Are your materials and websites showing people as diverse as your customer base?
Do you publicize your Diversity & Inclusion policies on websites and Annual Reports?
Is your parental leave policy communicated publicly?
Are there Gender-Neutral bathrooms?
Do you provide ADA parking and wheelchair accessible bathrooms?
Does the organization participate in Diversity conferences?
Are materials and websites multi-lingual? Braille?
Scandal Recovery As Marketing Message
Lead anchor Matt Lauer of the Today Show was
was involved in a sexual harassment scandal in 2018
As damage control, the network changed the program
to two women co-anchors, making history and sending
A message that harassment will not be tolerated
Diversity Advertising Case Studies
“Believe in something,
even if it means sacrificing everything”
https://abcnews.go.com/US/video/colin-kaepernick-nike-ad-57629180
Nike sales increased 31% in the six months after this ad was introduced
L’Oreal “Shades” campaign The company changed their tagline from “Because you’re worth it” to “We’re all worth it”
17% Sales increase after introducing 8 more shades of makeup to appeal to more diverse women and transgender customers
Went from 5th place to 1st in global foundation makeup sales
Section 7
Corporate Social Responsibility & Philanthropy
Higher Expectation in companies vs Government
Brand value is increasingly defined by instrinsic criteria
Consumers increasingly care about corporate responsibility
Investor interest in CSR is increasing
71% of millennials are hopeful businesses will take the lead in creating change because they don’t have faith in government
#1 response to what consumers consider the most important part of a company’s responsible business practice is being a good employer (94%)
Philanthropic and Responsible companies have double the Return on Equity as companies with the lowest ratings
76% will boycott based on values
80% will spend more money for products and services provided by companies who practice CSR
MARKET TRENDS ARE MAKING CSR INCREASINGLY IMPORTANT
Source: BlackRock Investment
9
WHY ARE CSR PROGRAMS IMPORTANT?
RAISES STANDARDS
Sets the model for solving problems
Encourages competition to participate
Increases collective impact
BUILDS POSITIVE SOCIAL CONTRACT
Shows local government that you are a partner who will enhance the community
BUILDS BRAND LOYALTY
Increases revenue
Builds shareholder value
INCREASES EMPLOYEE ENGAGEMENT AND PURPOSE
Increases retention
Attracts top talent
LARRY FINK’S 2018 LETTER TO CEOs CEO of BlackRock Investments, manages over $7 trillion in corporate assets
Look Beyond the Short Term
Prioritize long-term social responsibilities over short-term financial performance
“Without a sense of purpose, no company, either public or private, can achieve its full potential.”
BlackRock will stop investing in companies that don’t take a pro-active role against climate change and environmental sustainability
11
HOW TO DECIDE ON FOCUS
Through Corporate Social Responsibility, companies should consider the following:
What is important to employees ?
What is important to stakeholders ?
What is the impact on the communities where they do business?
HOW DO HOSPITALITY COMPANIES IN LAS VEGAS MAKE AN IMPACT THROUGH CSR AND PHILANTHROPY?
ENVIRONMENTAL SUSTAINABILITY
SOCIAL SUSTAINABILITY
EDUCATION & WORKFORCE
DIVERSITY & INCLUSION
Waste Reduction – Trash and Food
Energy Efficiency
Water Usage
Renewable Sources
Local Sourcing
Philanthropy
Volunteerism
Governance
Advocacy
Thought Leadership
Collective Impact Models
Philanthropy
Volunteerism
Tuition Reimbursement
Internships
Scholarships
Supplier Diversity
Unconscious Bias Training
Employee Resource Groups
Citizenship Classes
On-Site Voter Registration
HOSPITALITY COMPANIES ADVOCATE AND PARTNER WITH NON-PROFITS IN LAS VEGAS
CAESARS ENTERTAINMENT
MGM RESORTS
STATIONS CASINOS
LAS VEGAS SANDS CORP
Meals on Wheels
Clean the World
Public Education Foundation – Teacher’s Exchange
Human Trafficking
Food Waste Reduction
One Drop Blood Drives
Women’s Leadership Conference
American Cancer Society
Susan G Komen
Veterans Village
Public Education Foundation - CCSD Smart Start
Communities In Schools
NV Partnership for Homeless Youth
Homelessness
14
STATION CASINOS
Caesars Entertainment
For Discussion
1. Why would casinos support youth-oriented and elementary education causes?
2. Are there long-term benefits to providing post-crisis, short-term help?
3. What about philanthropy that is very far from a company’s base of operations?
Section 8
Vendor & Supplier Diversity
Vendor Diversity Defined
An organization’s ethical and socially responsible practices in purchasing and partnerships
Alignment with the community
Suppliers should mirror the diverse types of customers they serve
Creation of value for the company, its employees, and the greater good of society
Why Source Diverse Vendors and Suppliers?
Customers are demanding diversity
Diversity drives innovation
Diverse suppliers are often more flexible
most diverse suppliers are small businesses, they are usually able to offer greater flexibility, better customer focus and lower cost structures than larger businesses (Less red tape)
Drives competition on price and service levels between the company’s existing and potential vendors
Decreases the risk of purchasing from one or few vendors
Supplier Diversity in Hospitality
- CHOICE HOTELS
SUPPLIER DIVERSITY POLICY STATEMENT
Wynn Resorts recognizes the importance of Minority-owned and Women-owned Business Enterprises (MWBE) to the economies of the nation, the state, and the community, and the corporation.
Our commitment is not philanthropic - the relationships we are seeking must meet the test of providing value both to Wynn Resorts and to the minority-owned and women-owned business enterprises.
SUPPLIER DIVERSITY OBJECTIVES
Actively and routinely seek out qualified minority-owned and women-owned business enterprises that can provide competitive and high-quality products and services
Seek out opportunities to assist in the development and competitiveness of MWBEs through instruction, mentoring, and other outreach activities.
EXCHANGES DIVERSITY SUPPLIER PROGRAM
“EXCHANGES welcomes differences. It’s through embracing and valuing them that we can truly think and thrive globally”
“Partnering with diverse-owned businesses opens us to immense opportunities. EXCHANGES exemplifies our organization’s commitment to diversity and the belief that all of our success lies in embracing our differences.” -Ray Bennett, Chief Global Officer, Global Operations
Your company’s day-to-day operations and ownership structure has been reviewed by a third- party certifying agency and has been certified as a diverse business, (e.g. Small Business Enterprise, Minority Business Enterprise, Woman Business Enterprise). Minority or woman ownership means that a woman or minority owns 51 percent of the company. Similar requirements exist for other certification classifications.
How To Execute Vendor Diversity
Make sure diverse suppliers are included in competitive bidding from the beginning.
After going through the RFP (Request for Proposal) process, negotiate with minority-owned suppliers so both parties’ needs are fulfilled.
Agree on priorities and deliverables and success metrics in advance
Conduct “readiness assessments” with supplier diversity partners before entering into new agreements. This means companies should ensure a new vendor can meet its needs and set them up for long term success
Section 9
Customer Diversity
Customer Experience Defined
Customers have certain expectations about products and services they purchase
It is the impression a company makes on its customer, resulting in how they think of the brand across every stage of the customer journey
There are multiple touchpoints in every experience
People
Product
Customers expect that places where they spend money and time include diverse employees and experiences
The Service Profit Chain
The service profit chain* links employee satisfaction to customer loyalty and profitability
Happy employees equate to happy customers and translates to increased revenue
*Harvard Business Review, 1994, James L. Heskett, W. Earl Sasser, Leonard Schlesinger
Diversity in The Service Profit Chain
Supporting diversity and inclusion in the workforce increases employee engagement, and improves customer experience.
A diverse workforce is more engaged and leads to satisfied customers
Positive Customer Experience builds brand loyalty and results in referrals, revenue growth and new customers
As customer base becomes more diverse, the company has more target audiences and revenue opportunities
How Can Companies Promote Customer Experience Through Diversity?
Are employees diverse and multi-lingual?
Do name tags show home country or languages spoken?
Are communications easily available or translated into foreign languages?
Are amenities available for travelers that arrive late at night who may have traveled from another country?
Consider menus, music, décor. Does the business accommodate diverse tastes to attract diverse customers?
Is customer service “universal” and understandable by all visitors? (Example: the Disney experience is consistent and everyone knows what to expect whether in Orlando, Anaheim, Tokyo Disney, Shanghai Disney, Hong Kong Disney)
Monitoring Customer Perceptions About Diversity
Formal guest surveys sent by email, mail or phone
Focus groups
Comment cards
Social media
Guest reviews on travel sites
Section 10
Measurement & Accountability
Why Measure Diversity & Inclusion?
Prevention of discrimination lawsuits
To track how similar your employees are to your customer base
To share externally with Wall Street and demonstrate if you have a competitive advantage
To monitor if any groups are under-represented
To monitor professional development and advancement trends
Who is getting promoted?
Who has access to training that can lead to the next role?
Measurement Tools
Percentage of minorities and EEO targets
Representation of minorities at different levels
Line level, middle managers and executive leadership
Employee satisfaction surveys
Exit interviews
Volume of discrimination grievances, lawsuits, and complaints
Customer and vendor satisfaction surveys
Retention and turnover rates
Internal promotion data
Measurement Techniques
Quantitative surveys
360-degree feedback
Roundtables and skip levels
Social media monitoring and listening software
Focus groups
Third-party evaluation by diversity consultants
Accountability
Are D&I metrics tied to strategic goals?
“Caesars 50% women in management by 2025”
Are D&I metrics tied to executive compensation?
Are improvements sustained or temporary?
Are there certain departments that skew far from company average?
Is there progressive discipline and documentation procedures?
Who is enforcing that D&I practices are followed?
Chief Counsel
HR
COO / CEO
Department heads—can help monitor but would not have top-level authority to enforce
