The Forgotten Part of CSR
The Energy of Many
By Bruce MacMillan, C.A.
SO MUCH OF OUR INDUSTRY THESE DAYS IS FOCUSED ON THE SHIFTS being accelerated by the effects of the economy. But one SHIFT that was well under way before the Great Recession was the increasing focus of business and governments on sustainability or corporate social responsibility (CSR). Why should you care? Because according to a 2007 study by Goldman Sachs, “Companies that are considered leaders in environmental, social and governance policies are also leading the pack in stock performance—by an average of 25 percent since 2005.” CSR commitment and performance sustainability are symbiotic in today’s shifting marketplace.
In our space, we’ve come to equate the sustainability shift with the environmental aspect or “Green Meetings.” As this issue of One+ will offer, the environmental aspect of CSR (planet) is only one piece along with people and profit. Even though business is a convenient scapegoat for today’s economic situation, it’s important to keep in mind that without profit sustainability, the people and planet aspects of CSR become a bigger challenge. So when we look at the sustainability aspect of our meetings, it’s imperative that we first look at their performance sustainability.
Performance sustainability for meetings starts with designing the event to generate results that align with the mission and role of the organization. For their recent retreat, the leaders of the U.S. Federal Reserve chose Jackson Hole, Wyo.—an awe-inspiring, mind-clearing resort (blacklist be damned)—to tackle the unprecedented challenges facing the U.S. economy. The Fed’s role is to set and manage U.S. economic policy, and these are the people charged with making the tough calls. This requires the latest data and collaborative development of short and long-term strategies that could literally change the world. The solution to the Fed’s current challenges does not currently exist, and I highly doubt these economic gurus will find them in a windowless meeting room in a D.C. office building. For my money, I want these ladies and gentlemen working together, motivated and bursting with ideas to fix the economy.
The second aspect of performance sustainability for meetings is measurement against identified goals or standards. It’s impressive to see how meeting professionals are increasingly focusing on measuring the environmental impact of their meetings. Standards are under development through the Convention Industry Council’s (CIC) APEX initiative, and the MPI Foundation is considering an investment in a CSR measurement tool for widespread industry distribution. But our focus on performance measurement for meetings and events beyond attendance and cost savings is limited. Jack Phillips’ ROI methodology is one performance measurement approach. Strategic Meetings Management (SMM) is also getting considerable play in the procurement world, but it primarily focuses on structured cost management (inputs) and needs to be expanded to consider performance results (outputs) from the perspective of the attendee. Sustainability is not about being the least expensive—it is about ensuring the ongoing delivery of strategic performance results, such as profits, or in the case of the Federal Reserve, ideas to save the U.S. economy.
As we consider the importance of the sustainability imperative in designing our meetings, let us not forget that a focus on performance is essential to making a sustainable difference for our people and our planet.
BRUCE MACMILLAN, C.A., is CEO and president of MPI. He can be reached at bmacmillan@mpiweb.com.