Maritz challenges stakeholder engagement ideas
The Maritz Institute has published a white paper that delves into the latest scientific research on human motivation and behaviours, and challenges established business beliefs, calling for a whole new ‘multi-stakeholder approach’ to business.
The paper, entitled ‘The Game Has Changed: A New Paradigm for Stakeholder Engagement’, was researched and written to help business leaders navigate today’s business environment and more effectively engage all of their stakeholders, including employees, partners and customers.
“People are increasingly sceptical about their relationships with businesses,” warned Mary Beth McEuen, vice president and executive director at The Maritz Institute. “Whether they are customers, channel partners or employees, all are looking for relationships with organisations they can trust, that care, and that align with their own values. To succeed in the post-recession era, businesses will need to get in touch with people, and understand what is both meaningful and motivating on a personal level.”
A fresh perspective about business, about people, and about what really drives mutually-beneficial relationships, has already become imperative in today’s business world, the paper argues. For business leaders to achieve these relationships, Maritz advises adopting three core principles for better business practice:
- Understand what makes people tick Re-examine assumptions about human nature and behaviour, based on the latest scientific research;
- One size still won’t fit all Understand your stakeholders as people and seek to engage with them in ways they find meaningful and motivating;
- Be people-centric Genuinely see people as the centre of business strategy, with the goal of serving people and creating shared value – as opposed to the previous mindset of extracting value from people.
The full white paper has been made available for free download from the Maritz web site – click here (PDF document; no registration needed). Additional video and interactive content on the topic of engagement is also available here.