Page 290 - The New Gold Standard

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10 percent of payroll on employee training; longstanding excellence
in areas such as leadership development and employee orientation;
customer-oriented diversity training that extends even to interaction
with service animals such as seeing-eye dogs; management and train-
ing philosophies that account for an annual voluntary turnover rate
of 18 percent in an industry where 100 percent rates are the norm.
But what really made Training say, ‘Wow’ was the way the company
went about shifting its perception of its very hallmark: elegant ser-
vice’”: Jack Gordon, “Ritz-Carlton: Redefining Elegance (No. 1 of
the Training Top 125),” Manage Smarter, the online home of Train-
ing, www.trainingmag.com, March 1, 2007.
Chapter 11. Sustainability and Stewardship
229 “‘CSR reflects a concern for . . . profits, people and place. By no
means is profitability of the corporation set aside but rather supple-
mented by additional considerations that go beyond financial suc-
cess. Furthermore, while socially responsible action may initially
reduce profits, many corporations are finding that it may also create
new opportunities for adding to profits and/or reduce a greater
threat of operating losses due to legal/regulatory actions or loss of fa-
vor in the marketplace’”: Dr. Deborah Talbot, “From Shareholders
to Stakeholders: The Corporate Board’s Newest Challenge,” Board-
room Briefing, a publication of Directors & Boards magazine, Winter
2006.
231 “‘It is interesting to see how corporate citizenship is becoming a dif-
ferent and powerful new driver for winning the talent war. . . . The
millennial generation, by many reports, is looking for workplaces that
will ensure continuity between their values and their careers. This
generation, socialized in community service and possessing a pas-
sionate commitment to cultural environments, expects a company
to walk its talk. It also expects the company to provide opportuni-
ties for employees to act on their values—resulting in the emergence
of employee engagement as a strategic issue’”: Dr. Bradley Goggins,
“Corporate Citizenship and the War for Talent,” Center for Corpo-
rate Citizenship at Boston University, Web site www.bcccc.net, Oc-
tober 2007.
232 “Researchers Sergio Pivato, Nicola Misani, and Antonio Tencati, for
example, have demonstrated that corporate social performance in-
fluences consumer trust”: Sergio Pivato, Nicola Misani, and Antonio
Tencati, “The impact of corporate social responsibility on consumer
trust: the case of organic food,” Business Ethics: A European Review,
www.blackwell-synergy.com, vol. 17, issue no. 1, January 2008.

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