Benefits & Results
At Provictus, we believe that reducing your negative impacts and increasing your positive ones will not only benefit society, but will help your business perform. All companies encounter challenges that limit their ability to succeed, but our process targets these specific obstacles to help your business create economic value. Click on the common challenges below to see how the Provictus process will help your business overcome them.
- Difficulty Winning New Sales and Retaining Previous Customers
- Difficulty Recruiting, Motivating, and Retaining Skilled Employees
- Difficulty Accessing Capital and Forming Strategic Partnerships
- A Lack of Innovation or Creativity
- Vulnerability to Risk and Rapidly Changing Environments
- Heavy Waste Creation and a Lack of Sustainable Operations
The Problem: Difficulty Winning New Sales and Retaining Previous Customers
Finding new customers can be difficult for a small business, especially when your product or service is based on reputation, and you have limited marketing resources. While your larger competitors might have entire departments focused on this, you might only have a handful of people.
How Provictus Helps
A strong and well communicated social responsibility program will help bolster your reputation, providing more exposure for your services and products, while opening up a new market of socially aware consumers. Our process will help create a program that addresses your customers social concerns and expectations of your products, services, and business. By engaging current customers and uncovering what their needs, wants, and concerns are, you are showing that you value them for more than their purchasing power.
Results
Your customers will develop an emotional attachment to your business, and will be much more inclined to provide you with repeat sales. You will also be able to increase profit margins with higher prices, as 70% of consumers say they are prepared to pay more for a brand that supports a good cause they believe in. (Forbes Global Survey)
The Problem: Difficulty Recruiting, Motivating, and Retaining Skilled Employees
Small businesses often have limited resources and can not offer large compensation packages in order to stay competitive. These constraints can make motivating, retaining, and recruiting skilled employees difficult.
How Provictus Helps
Provictus helps you solve this problem by developing programs that create work with more meaning. By listening to and acting on your employees needs and concerns, you will encourage them to realize their full productivity potential. Our process itself engages employees, and analyzes health and safety, equality and diversity, learning and development, and opportunities to create a more fulfilling experience.
Results
Working for a business that engages its stakeholders and contributes to its community can be a rewarding experience that can help motivate and inspire employees. In fact, Over 50% of MBA Students would accept a lower salary to work for a socially responsible company (NetImpact Survey, 2006). Having the right people in your organization can be the difference between growth and stagnation, but ensuring that your employees are motivated by more meaning to their work will help you be staffed for success.
The Problem: Difficulty Accessing Capital and Forming Strategic Partnerships
Small businesses often find difficulty in accessing new capital due to their lack of reputation, collateral, and time for planning. A lack of growth capital can cause missed business opportunities, and low amounts of working capital can cripple your purchasing and manufacturing.
Small business management also often suffer from limited time and resources to put towards strengthening strategic partnerships. By ignoring groups that impact your business, you are risking low trust levels between you and your stakeholder groups, and potential business opportunities that will now go missed.
How Provictus Helps
Social criteria investing, investing in organizations that manage their environmental and social impacts, has become increasingly popular in the last decade. Our process will help you become more attractive to investors that look for social performance, as we help you develop a strong, well communicated social responsibility program.
Being committed to a social responsibility program can also facilitate strategic partnerships with important stakeholders. By engaging with people and groups who can affect your business, you are building a solid foundation of trust and strengthening your relationship. Provictus helps determine which stakeholder groups can have the most impact on your business, and the optimal way to engage and facilitate open conversation with them.
Results
Our work will make your business more attractive to the growing number of social criteria investors, as well as the numerous traditional financial institutions which are now considering social and environmental performance in their borrower risk analysis. Strengthening relationships with stakeholder groups to form strategic partnerships can benefit your business immensely, as these stakeholders often include regulators, influential NGO’s, and other groups who can access and provide important resources.
The Problem: A Lack of Innovation or Creativity
With limited resources, small businesses can easily get stuck focusing on core products and services, giving little attention to innovation and creativity. While larger competitors with more resources develop new ways to meet the changing needs of customers, small businesses can easily fall behind and lose competitive ground.
How Provictus Helps
While this can be a difficult challenge to overcome, a good CSR program will help you collect input and ideas from all stakeholder groups. Provictus helps facilitate this process and give you the tools to continue an open dialogue with those who are important to your business, making it easier to exceed customer expectations by modifying existing and creating new products and services.
Results
By being able to regularly collect input and ideas from all stakeholder groups, your company's creativity and innovation will surge without draining your resources. Companies that enjoy a culture of creativity and innovation find ways to reduce costs, increase sales, and strengthen their reputation as a favourite amongst customers and a leader within their industry.
The Problem: Vulnerability to Risk and Rapidly Changing Environments
Small businesses face a wide range of risks that can easily threaten their success. Potential disasters, from workers' safety to changes in consumer tastes, can be a major threat to a company, particularly if they are unable to spend sufficient time and resources on risk management.
How Provictus Helps
Provictus helps reduce your vulnerability as a well designed CSR program acts as an early detection system to most risks that threaten your business. By encouraging stakeholders to scrutinize your company's actions and provide you with their expectations on products, services, and business, you will be better prepared to adapt to new situations and manage the broad spectrum of social, legal, environmental and economic risks that you face.
Results
Improved risk management leads to a higher amount of security for your businesses and its employees. You will be more prepared to avoid and navigate disasters and downturns, helping your revenues, reputation, and employment levels remain stable.
The Problem: Heavy Waste Creation and a Lack of Sustainable Operations
Today, more and more businesses are taking the time to determine how to reduce their environmental impacts and increase operational efficiencies. While there are often cost savings and environmental benefits to be had by making both small and large changes in your company's actions, many small businesses are tied up in running day to day operations and are unable to complete any type of assessment.
How Provictus Helps
Provictus helps by assessing your operations for you, and making recommendations on how to reduce costs, improve operational efficiencies, and reduce your environmental impact at the same time.
Results
Reducing your waste and improving efficiencies will help cut costs, and can even create new revenue streams. Bettering your sustainability will improve your reputation and open up new markets, and will make your company leaner and more competitive.
Click here to learn about the services we offer to help clients achieve the full benefits of corporate social responsibility.