HR strategy to generate mutual benefits: SHRM-SCP

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In today's business world, companies are increasingly recognising the importance of creating shared value - a strategic approach that benefits both the organisation and the wider community. This approach, popularised by Michael Porter and Mark Kramer, involves implementing policies and practices that enhance a company's competitiveness while simultaneously advancing social and economic conditions in the communities where it operates.

One such example is a strategic HR initiative that encourages employees and customers to opt out of paper statements. By doing so, companies can reduce paper consumption, conserve natural resources, and help combat deforestation, thereby lowering their carbon footprint. This not only benefits the environment but also offers cost savings and enhances the company's brand image.

Take Airbnb, for instance. Their approach of building a brand community around unique travel experiences has been a game-changer. Hosts and guests connect through shared adventures, exchange information, and support each other, fostering trust and emotional bonds within the community. This strategy not only drives business success but also contributes positively to the society.

For companies embarking on this path, there are resources available to help. For instance, practice questions and answers for the SHRM Senior Certified Professional (SHRM-SCP) certification exam, which can be helpful in preparing for the SHRM-SCP exam and earning SHRM-SCP certification, are available free online.

Moreover, implementing environmentally friendly practices and offering incentives for eco-conscious choices can improve a company's reputation and appeal to customers who value sustainability. Customers who opt for digital statements can access their account information more quickly and conveniently, enhancing the overall customer experience and potentially leading to increased satisfaction and loyalty.

By decreasing the number of paper statements printed and mailed, companies save on materials, printing, and postage costs. This not only contributes to the bottom line but also aligns with the principles of creating shared value, where companies strive to make a positive impact on the communities they serve.

In conclusion, creating shared value is a win-win strategy for businesses and society. By adopting this approach, companies can drive both business success and societal progress, making a real difference in the world.