I was doing some research for a keynote speech I’ll be giving and I took another look at the SHRM Foundation’s Effective Practice Guideline on CSR. I wrote about it here, and was reading it again, thinking “Gee this is great stuff.” (Stuff, being a highly technical term that data geeks use a lot.)
I came across this graphic of the stakeholders HR professionals need to connect with when designing and promoting CSR approaches and programs within their organizations. As I reviewed it, I thought it was a good reminder of the breadth of the stakeholders that HR needs to factor into all of its work – whether it’s CSR, talent acquisition, talent management, benefits administration, strategic planning, learning and development – or yes, even the planning of the annual company picnic.
As I looked over the graphic, the only missing stakeholder group that I noted was the Board of Directors – but I’m pretty sure the authors include them the Owners-Shareholders group. With the growing regulation of business and the focus on board oversight, I’d call them out as a separate group. What do you think? Would you add any other distinct groups?
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I like this post, but then again I like all of your Data Point Tuesday posts! What about “Advocates”? Here’s my thought: with ongoing permeation of “social” practices within organizations, a dramatic rise of word-of-mouth-marketing is impacting every part of most (if not all) businesses. While some organizations are beginning to recognize the value of formally developing advocates within many of the stakeholder groups previously identified, we may see this group identified as a core stakeholder group in the very near future. Just a thought.
Thanks, Frank! I was thinking this too and couldn’t get any more specific than “everyone who has ever heard of the organization for any reason.” That was better than Twitter/YouTube Nation….
I agree that the Board of Directors is a distinct stakeholder even thought it could be a sub-category of Owners-Shareholders. Another group that overlaps others but is not a subset of any other group is Candidates for Employment. This group definitely has a stake in the health of the business, has a personal interests at stake and is influential to decision makers. Studies have shown that failure to acknowledge this group can have dire consequences on other aspects of the business.
Hi Tom: I wondered how long it would take to get candidates on the list. You win! 🙂
Hi China, many thanks for highlighting this point about HR stakeholders from the paper I co-wrote for the SHRM Foundation. In my book CSR for HR (Greenleaf, 2010), I talk about this in some detail, and it may surprise most HR Managers that employees are not their primary stakeholders – because as a facilitating and enabling function, employees are once-removed from the HR Management function (except for those directly employed in HR). However, in the extended circle of stakeholder influences, employees are of course a critical group. You are right about the Board of Directors – this is possibly an omission – but would be represented by owners/shareholders and the Executive Team. In my book, I identified 14 stakeholder groups of the HRM function – including, for example, HR Professional ASsociations (such as the SHRM), Retired Employees, Potential Employees, Employee Associations / Unions.
Thanks for your fascinating blog which I follow with interest, warm regards, elaine
http://www.csrforhr.com
Hi Elaine: I love that EPG! 🙂 Thanks for commenting. Retired employees, potential employees, employee associations and unions are big as well. Thanks!