We’ve been thinking a lot about the role of corporate policies recently as we’ve worked on an interesting assignment for a private, employee-owned firm. More specifically, we’ve been thinking about the importance of developing policies that are appropriate to the profile, scale and culture of an organization.
Though relatively small, our client counts large, global corporations and government entities as its primary customers. Increasingly, these customers are requiring formal documentation of responsible business practices, particularly in the RFP process.
Though our client had many sound procedures in place, several were not formalized, and as a smaller, professional services organization, they were approaching many ESG topics for the first time. Our challenge was to help develop sustainability policies that were credible to customers and raters, such as EcoVadis, without being disproportionate to the size of the firm and its line of services.
A thorough audit of what already existed internally was our starting point. Then, we formalized practices and governance processes across the company into clear, defensible policy language. As a result, the final policies reflected how the firm already worked rather than imposing new obligations. Where there were no existing processes, we drew on recognized best practice to shape the policies, which included sustainable office practices, human rights, emergency response, and sustainable design, among others.
The result was a set of formalized, right-sized policies grounded in real practices that were strong enough to support RFP responses and third-party assessments and built to grow with the business.
When you turn to an advisory firm for help on projects that may explore new territory for your business, make sure you select a partner that brings a realistic approach. A firm that meets your unique needs and circumstances with intuitive insights and tailored solutions, as opposed to a one-size-fits-all model, ensures not only a successful outcome but also one you can live with.
