New Incentive Research Foundation Report: MICE Industry Needs to Lean Into ESG

The report, “Social Responsibility & Sustainability” by Allan Schweyer, Incentive Research Foundation Co-Research Chair and Adam Presslee, a University of Waterloo professor, in partnership with Destinations Canada, says:

“Sustainable business practices and the broader environmental, social and governance (ESG) movement are real, growing, and here to stay. Meetings, Incentives, Conferences, and Events (MICE) professionals should prepare now for profound changes in the way they execute their strategies and initiatives.”

According to the new Incentive Research Foundation report, organizations increasingly “are offering employees sustainable rewards and benefits (SRBs) to further their goals and objectives.” A 2017 survey of 500 US human resource or hiring managers found that 38% planned to offer their employees such SRBs – a 500% increase from a similar survey conducted in the previous year (7% of respondents). Examples of SRBs include charitable contributions on behalf of the employee and matching programs; the opportunity for employees to reward their co-workers, and the donation of employee work time to a charitable cause.

A survey of 50 executives in various aspects of the incentive business found that 71% believe that incentives and rewards will play role in the social responsibility and sustainability movement.

Of the respondents, 50% see a demand for more socially responsible rewards, such as fair-trade merchandise, Corporate Social Responsibility activities at events, diverse representation among event staff, and demonstration of fair pay among venue and other supply chain staff.

https://theirf.org/research_post/social-responsibility-sustainability/?utm_source=linkedin&utm_medium=social&utm_campaign=social-responsibility&utm_content=20221116