Overcoming Challenges: The Path to Successful ESG Program Implementation
While the adoption of environmental, social and governance (ESG) programs is becoming increasingly important for building a sustainable future, implementing such initiatives does not come without its challenges. Cost, ROI, engagement and clear messaging are just a few of the many factors to consider when it comes to corporate sustainability.
Below are some common concerns with commonsense solutions that may help companies better prepare for ESG deployment.
- Capital allocation: Investing in and implementing ESG initiatives may require significant financing, which can be a hurdle for some companies, especially smaller organizations with limited resources. Not all ESG programs are costly, however. Starting slow and building a longer-term strategy over 2-3 years is good practice. It could be something simple, such as reducing a company’s carbon footprint by using energy-efficient lighting or adopting a hybrid workplace.
- Complexity and measurement: Determining the right indicators, collecting reliable data and establishing standardized frameworks can be arduous. Companies can overcome this challenge by leveraging emerging technologies, collaborating with industry peers and engaging with ESG consultants and experts to ensure accurate and transparent reporting.
- Benchmarking: It is important that organizations perform in a manner to maintain their performance, and at the same time, mitigate risk and capitalize on the potential benefits of sustainable business practices. Falling behind on these initiatives may lead to missed business opportunities. A good rule of thumb is to set realistic, achievable goals aside from regulatory obligations.
- Stakeholder engagement: Balancing the diverse expectations of multiple audiences can be very demanding. Companies can use existing technologies to set up open communication channels with each of its targeted communities, from employees and investors to customers and suppliers. Social platforms can be used to garner support and to ensure that ESG programs align with stakeholder needs.
- Integration and alignment: ESG programs often require changes to organizational structures, investment decisions and risk management practices. Since companies are constantly evolving, meaningful ESG practices can slowly and strategically be integrated into existing operations. What’s needed are leadership commitment, employee education and training and clear ESG goals that align with the company’s mission and values.
- Regulatory environment: Compliance with multiple reporting frameworks and keeping up with varying regulatory and local jurisdictions often can lead to uncertainty. Engaging with policymakers, industry associations and subject matter experts can help companies stay informed and adapt their ESG programs to meet evolving requirements.
Today’s business and social climate are having a trickle-down effect on ESG. Large organizations, for example, are requiring smaller companies to adhere to ESG criteria as part of their global supply chains. Moreover, a growing number of institutional investors will not invest in companies without an ESG program in place.
Lack of standardization, inconsistent data quality and subjectivity are adding to the confusion when it comes to ESG. As a result, Bloomberg predicts more ESG-related shareholder lawsuits this year, which was highlighted in a recent Morgan Lewis webinar.
Studies suggest that those companies embracing ESG will be competitive leaders and drive long-term value creation. ESG is not as complicated as it may appear. Deploying a program that does good – without breaking the proverbial bank – not only enhances brand reputation, but also will be well received among investors.
George Medici, gmedici@pondel.com
5 Unconventional Reasons Why Hire a Public Relations Firm
Different sized companies, private or public, have varying needs when it comes to corporate communications. Whether it is to help message a crisis, improve shareholder value or build brand awareness, engaging a public relations firm may often seem like a no brainer.
It’s also important for any organization to look beyond the obvious to assess opportunities or even threats that may impact business goals. Think of it like a self-tune up that asks the fundamental questions, “What if …” and “What can we be doing better?”
Most small and middle market companies do not have their own communications departments able to perform self-assessments. Using an outside firm may be a good alternative, which also can provide a unique, objective perspective on existing strategies.
As organizations plan for 2023 and beyond, it may be worthwhile to consider these five unconventional reasons for engaging a corporate pr agency:
- Perception doesn’t match up with company’s values. Media and investor audits, as well as customer and employee surveys, can be very helpful in gauging sentiment. Using a pr agency as facilitator is ideal for determining unbiased feedback that can be translated into effective communications programs.
- Can’t tell the bigger story. Today’s CEOs, CFOs and CMOs must navigate myriad landscapes that have their own unique sets of challenges. Clearly defining target audiences from Main Street to Wall Street will help ensure message delivery. However, knowing what to say, when and how to say it will move the proverbial needle.
- Too busy. Organizations have great ideas but don’t always have the bandwidth to successfully implement communications campaigns. While finding a good firm may take some extra time, consider one that can do the “heavy lifting” and free up internal marketing and investor relations resources.
- Don’t hear the word “no” very often. While a communications firm should be an advocate and supporter of a company’s vison, it is important that the pr firm does not drink the proverbial Kool-Aid. A heathy debate on strategy and tactics will always yield better results.
- You got this. Like most corporations, good public relations firms, too, should always be learning. We need to be aware of new technologies and strategies, as well as stay up to speed on latest marketing and communications platforms that are constantly evolving. Select a firm that can add both tangible and intangible value to any company, brand or organization beyond its internal capabilities.
Establishing or enhancing share of voice can be a monumental task for any sized organization in today’s crowded, very noisy marketplace. All that’s needed is the right public relations firm with the savvy to develop a cogent strategic approach, mixed in with good ole’ fashioned “out of the box” thinking.
George Medici, gmedici@pondel.com
PondelWilkinson Profiles: Janet Simmons
Every company has that one person who is the “glue” that keeps everyone and everything running smoothly. Janet Simmons is that person at PondelWilkinson. Entering her 15th year at the firm, we asked the Los Angeles native some questions about her professional and personal life as part of our ongoing Q&A series.
What was your first job?
It was with Bell Industries, working at their manufacturing facility in Burbank. I started out on the plant floor and ended up in the front office, working with the CEO and CFO on corporate communications and administrative matters. Stayed there for 34 years.
How long have you been in the industry?
The last 15 years of my career have been with PondelWilkinson. I joined the firm right after I left Bell Industries, which ironically was one of PondelWilkinson’s first investor relations clients. I already knew and loved everyone at the firm, so the transition was seamless.
If you had to pick one word to describe what you do, what would it be?
Variety. I cover everything … from administrative duties to preparing quarterly analytical reports for clients, issuing press releases, updating websites and more.
What is your favorite part about your job?
I would have to say it’s interacting with people. I enjoy working with everyone at PondelWilkinson and with our clients. Even though we are working remotely these days, we always find time to stay connected and enjoy a laugh or two.
What is your least favorite part about your job?
That’s a tough one. I really enjoy all that I do here, but I’m not a big fan of tight deadlines. I know it’s part of the job, but short turnarounds can be very stressful at times.
What do you like to do for fun?
I love gardening, hiking and going out with friends.
What’s the weirdest thing you’ve ever done?
My husband and I recently went on a “Jeep safari” in Moab, Utah. While navigating the Hells Revenge trail, we started to climb a super-steep Lion’s Back, when I jumped out of the moving car and walked back down the hill. I don’t know about being the weirdest, but it definitely wasn’t the smartest thing I ever did.
What’s something that recently made you smile?
The other day I noticed a squirrel in my backyard trying to get my attention. He was looking at me through my kitchen window, as if to say, “Hey, the bowl is empty, are you going to fill it?” I literally laughed out loud because the squirrel was so animated. Needless to say, I filled the bowl with food, smiling the entire time.
What’s next on your bucket list?
Washington, D.C.
What’s the best advice you’ve ever heard?
That would have to be from my dad, who often said, “Better to be early than late.” Simple advice, but something I live by in everything I do.
— Shannon Clemons, sclemons@pondel.com
PondelWilkinson Profiles: Laurie Berman
PondelWilkinson’s investor relations teams play an important role helping publicly traded companies position themselves to Wall Street. We caught up with Laurie Berman, the firm’s managing director, who shared more about her IR work, personal life and some of the factors that have influenced her career.
What was your first job?
My very first job was at a snack bar in a roller-skating rink. Professionally, my first job out of college was working at Institutional Investor magazine in their sponsored conference division.
How long have you been in the industry?
I’ve been practicing investor relations for almost 30 years (I guess I started when I was still in diapers).
If you had to pick one word to describe what you do, what would it be?
Fast-paced (that’s one word, right?).
What is your favorite part about your job?
I love storytelling. It’s so important to be able to find the right words to describe a company and its strategy.
What is your least favorite part about your job?
Deadlines. Although I work great under pressure, it’s sometimes tough to juggle multiple deadlines at the same time. I’m proud to say I’ve never missed an important one.
What do you like to do for fun?
I love sports (the spectator kind). Right now I’m very into football and I am a rabid fan for my NY Giants. Baseball is also a love of mine, but I switched my allegiance from the NY Mets to the Los Angeles Dodgers when I moved to Los Angeles more than 20 years ago. I still do root pretty hard the New York teams of my childhood.
What’s the weirdest thing you’ve ever done?
I allowed a very persistent relative to convince me to go on a date with someone I briefly dated five years before (it didn’t work out at the time). We’ve now been married for almost 26 years, and that relative was a flower girl at my wedding (she was in her 50s at the time).
What’s something that recently made you smile?
A few months ago, we rescued an 8-year-old dog with vision problems. She makes me smile all of the time because she’s such a goofball.
What’s next on your bucket list?
Aside from winning the lottery? I’d love to take an extended vacation through Europe.
What’s the best advice you’ve ever heard?
Not so much advice, but something I try to take to heart. “Comparison is the thief of joy.”
— Shannon Clemons, sclemons@pondel.com
Hitting The Ground Running: An Intern’s Perspective
When I first interviewed for PondelWilkinson’s internship program earlier this summer, I was told that it would be a hands-on and immersive experience. I nodded politely and expressed my interest. I laid out what I had done at school, which I thought made me capable. While I was not completely wrong in my “qualifications,” I learned fast that the real world cannot be taught.
On one of my first days, I was tasked with writing a pitch letter for a client’s new product launch. Easy enough, I did this in class, I thought to myself. So, I found my old professor’s template and went ahead to write an email pitch. I polished it up and sent it along to my supervisor expecting minor feedback. I was not expecting the entire letter to be edited and rewritten. Oh, this is not like school.
As the internship went on, I was tasked with more pitch letters, calls to reporters, and updates for clients. I was not getting the perfect latte ready or organizing file cabinets (although the internship was virtual so that would have been hard to do). I was acting as an associate on client accounts, working behind the scenes.
One element that took some time adjusting was the virtual format. While there are many positives for working remotely, including the flexibility of making my own schedule, there are downsides as well, particularly learning each other’s “schedule” when there is no real office. I am happy to report that the teamwork aspect was not lost. I also got to work alongside my fellow intern where we helped each other on projects and still felt connected, even if she lives in Pennsylvania and I in Maine.
Below are a few tips for new interns on what I found to be successful when transitioning from class to an internship:
Organization. In school I always had a planner where I would write down what I had to do, and then cross it off as it got done. This worked well for my internship, too. I would write down client activities planned for the week and then begin by checking them off once completed. This made me feel productive and helped keep what I was doing organized. What differs from school is there might be urgent items that come in at random times. While school and class have a schedule, the business world does not. What I think I might do during the day could completely change. You must stay on your toes but keep organized while doing so.
Communication. I admit it. I am the student who annoys the professor with emails to make sure I am doing the right thing. I have learned that communication looks a little different in the workplace. A lot of the time management responsibility is left up to me. I must take ownership and trust myself and my work. The good news is there are no grades, and things can always be changed and edited. Communication is still important, but its purpose is to make sure everyone is on the same page.
Work hard, play hard. This is the mantra at my university. Students are expected to produce high quality work, but also relish their college experience. I think this phrase can still be applied to an internship but tweaked just a little. Working hard does not change. I always want to put my best foot forward and exceed expectations. To play hard in an internship, however, means taking a step back and enjoying the experience. I have been able to work with some cool clients who are doing eye-opening things, and also become friends with Lauren O’Neill who was not just “the other intern.”
While an internship is certainly not like school, there are qualities that can be applied to both. I have learned so much more about public relations, even if I have had great classes about it. George was not lying when he said this internship would be immersive, and I am so glad it has been.
Rachel Peterson
Rachel Peterson interned remotely at PondelWilkinson for the firm’s 2022 summer program. She is a student at Wake Forest University studying communication, integrated strategies, and film. When she’s not working or studying, Rachel enjoys going to the beach, watching the sunset, and dancing. After graduation, she hopes to put her skills to use in Vancouver or New York.
How I Thrived as a Liberal Arts Major Interning in the Business Sphere
In my three years as an undergraduate, I have never once taken a business course. So, you can imagine how I felt when, during my first week as an intern at PondelWilkinson, the conversation at the weekly staff meeting quickly turned to non-deal roadshows and corporate access.
I have been studying as an English major, and I felt that my only skill was being able to edit papers and read quickly. I immediately doubted my abilities and thought I had made the wrong choice.
But I was wrong.
One of my first tasks was writing a pitch letter for an AI robotics company revolutionizing the culinary industry. After all the journalism classes I had taken, I thought I had this down. I knew about the catchy introduction, and the importance of making the story seem timely and relevant. The difference was this pitch letter would not be sitting on my computer in an endless list of documents. It would be sent to actual reporters.
I quickly realized that writing the email was not something that could be done with the snap of my fingers. I needed to fully understand the client and spent a lot of time looking at press releases and news coverage. I also had to research reporters and their outlet perspectives, which helped ensure my pitch letter was reaching the right audience.
Suffice to say, my pitch generated media interest that resulted in a client Q&A published in an industry trade outlet. But it didn’t stop there. There were press releases, client strategy calls, social media programs and even SEO work, among many other of my day-to-day activities. Throughout it all, PondelWilkinson provided me with the opportunity to demonstrate the skills I acquired as a liberal arts major that were applied to corporate communications in the real world.
After constantly going through college, hearing “What are you going to do with an English degree,” I finally feel confident in my decision as PondelWilkinson provided me with the opportunity to do real and meaningful work.
Lauren O’Neill
Lauren O’Neill recently completed her internship at PondelWilkinson and is a rising senior at Penn State’s Schreyer Honors College majoring in writing and communications.
Continuing the Legacy of Cecilia Wilkinson
We recently had the pleasure to meet with Andrea Gomez, a graduate student at USC and recipient of this year’s Cecilia Wilkinson Memorial Scholarship.
For the past 15 years, the Cecilia Wilkinson Memorial Scholarship has been awarded to a first-year graduate student at USC Annenberg School for Communication and Journalism with an interest in corporate/investor relations and reputation management.
“I can’t thank you enough for your generosity!” said Gomez, who is pursuing a master’s degree in public relations and advertising. “The financial support has allowed me to attend USC without being burdened by financial stress. The Cecilia Wilkinson Memorial Scholarship has helped pay for a large amount of my tuition.”
Gomez shows strong passions in graphic design, marketing and civic engagement. She developed her unique concentration in working for service-driven organizations and is inspired to start a nonprofit organization for foster children one day.
“My dream has always been to work in a nonprofit, advocacy or social justice sector,” added Gomez. “Following and developing my passions led to my career in public relations. Corporate communications is a field that is quickly evolving. I’m so excited to enter this profession that will challenge me and push me to grow.”
Gomez also maintains high grades and already has begun making substantial connections with her professors who have founded nonprofit organizations. It is nerve-racking to enter a new world of education, but Gomez shows great talent, strength and aspiration to become the next front runner in the public relations realm.
“With their passion, purpose and skills, these students truly embody the hope and possibility of the future,” said Willow Bay, dean at USC Annenberg School for Communication and Journal about PondelWilkinson’s memorial scholarship. “Your generosity has made a difference for our students today and tomorrow, and I am truly grateful for your enduring support and partnership.”
Best of luck, Andrea!
Aimee Wong, awang@pondel.com
Cutting Through the Clutter in 2022: 5 Tips for Better Listening
Another year into the pandemic demonstrated yet again that more people are online.
According to Statista, 3.6 billion people worldwide were using social media last year, a number projected to increase to almost 4.41 billion in 2025. In the U.S., 82 percent of the populace have a social profile, up from 2 percent last year.
It’s also very crowded on social. About 500 million tweets are posted each day on Twitter. That’s about 200 billion tweets a year. And every day, 400+ hours of content are added to YouTube, which already has well over a billion videos.
The numbers are staggering. A recent blog post from SocialPilot titled “367 Social Media Statistics You Must Know in 2022” puts important social media usage trends into perspective.
All this may seem overwhelming for any brand or organization looking to develop an online social presence. A common mistake we find is that these companies usually do not do the necessary preliminary research: listening.
There’s a difference between social monitoring and social listening, although they work hand-in-hand. Data is pulled and analyzed to better understand a target audience so that effective messaging is used to help a company or brand stand out from what has become what seems like an infinite-amount of social posting.
But how does an organization get started? It’s not that complicated, really. There are lots of options. Here are a few suggestions:
Surveys. Any organization can use polling to glean key trends relevant to a company or brand. Surveys vary in cost depending on size, scope and the audience of respondents, whether they are consumers or CEOs. Asking insightful questions will produce even better results.
Media audits. Knowing a specific reporter won’t necessarily get a story published, but having good relationships with journalists may be used to get unbiased insight into a company, brand or trend. Obviously, this takes time but something to consider when developing press contacts.
Investor perceptions audits. If a company is publicly traded, perception studies are a great way to learn what Wall Street really thinks about an equity. Interviews with shareholders and financial analysts, along with a review of press coverage and social media can yield valuable insights that create stronger narratives that can help address concerns and enhance valuations.
Google. There are other search engines, but all roads still lead to Google. Heck, it’s the Internet. There is an infinite amount of data that can be searched, categorized and indexed on practically any topic or subject matter. That said, it’s the Web, so proceed with caution.
Social media. To follow or be followed, that is the question. Perhaps in the context of this blog it may be the former. Social platforms are where brands engage with key audiences. A lot can be learned by just “sitting back” and listening to learn more about what people are saying about current issues. There are lots of social media tracking and monitoring software programs on the market. Be advised, however, that while many people are on social media, take into consideration silent majorities that may alter broad consensus.
There are many other tactics for obtaining important feedback. The key is to be creative, and most undertakings can be done under the proverbial radar with minimal cost. Adopting listening campaigns before the launch of any major marketing or communications campaign is a great first step to align proper messaging with goals and objectives.
And it’s not just for larger campaigns and initiatives, but for day-to-day communications as well.. Know thy customer, otherwise communicating may be an exercise in futility, especially in the super noisy world of social media. Better connect with consumers, investors, businesses, customers and partners by knowing what they want and what’s important to them, so that more on-point messaging can be crafted and implemented.
Studies suggest how effective talking points can increase positive responses. Better messaging means better results. A little listing can go a long away in 2022 and certainly beyond.
George Medici, gmedici@pondel.com
