Sustainable Development
Overview
When one thinks about sustainable development, saving the planet by being green is often the first thing that comes to mind. Greenhouse gases, carbon emissions, and reducing the use of fossil fuels seem to be at the top of most sustainability programs. Taking care of our planet is all great, but it’s not enough. People and prosperity for all are just as critical, which is why there are 17 Sustainable Development Goals (SDGs) within the United Nations 2030 Agenda, not only one.
The coronavirus pandemic hit the world during the creation of this issue of The Insider, causing worldwide unimaginable human suffering and economic collapse.
The pandemic didn’t erase sustainability from our corporate agenda, but it changed our perceptions of it. Look at single-use plastics. Before COVID-19, single-use plastics were considered so harmful to the planet, that some countries issued national bans on their use.
Today, with safety first on everyone’s list, single-use plastics have become a must-have in many situations. In some ways, it seems like we’ve stepped backward in our sustainable development commitments. But if you look at it opportunistically, this step back could help accelerate the development of truly compostable plastics and move us many steps forward instead.
The same thing is happening in the travel industry where contactless experiences are in, and touchable processes and amenities are on their way out. Sustainable digital solutions will create safer travel and holiday experiences for everyone and make money for companies able to capitalize on the demand.
Sustainability is not a cost item on a balance sheet or a buzzword in our Corporate Social Responsibility (CSR) programs. It’s not a feel-good initiative that makes us more attractive from a public relations perspective.
Sustainable development, done right, generates profit. It is an investment in the future with a high ROI – a safe and healthy future for the organization, its employees, partners, customers, suppliers, investors, and the planet.
Great leaders understand that a company’s raison d‘être is all about people, not products and services. It’s about compassion and giving back. Because we’re not just another species living on planet Earth, we are humankind, and that makes us”our brother’s keeper whether we choose that responsibility or not.
Every corporation has naysayers that oppose sustainable development; I’ve met my share. But there are ways to address their objections. Check out my interview with Yalmaz Siddiqui, Vice President of Corporate Sustainability at MGM Resorts International, to see what works for him.
I also recommend you explore what other industries have done to make the SDGs part of their DNA — publishing, libraries, hotels, airlines, cruise/ferry lines, and healthcare, to name just a few.
Discover how embracing the 3Ps of the Triple Bottom Line can make your industry more sustainable, why technology isn’t a death sentence for the planet, and why being green is a good start, but it’s not good enough.
But more than anything, I hope that you’ll walk away inspired to invest in sustainable development for your business and start reaping the rewards that I promise you will follow.
We invite you to explore this collection of articles on sustainable development from the August 2020 edition of The Insider Magazine: People, Planet, Prosperity. And if you have any questions or want to learn more, let’s talk.
A deep-dive analysis by sustainability expert, Hervé Houdré
In the last few years, the travel industry was criticized as a destructive force on our planet. Travel is an easy target and one that is not without blame when it comes to greenhouse gas emissions and over-tourism.
To get a more balanced perspective on the issue, we reached out to sustainability expert, Hervé Houdré, to learn how adopting the Triple Bottom Line (TBL) ̶ people, planet, prosperity ̶ can propel the industry and our world into an era of economic prosperity, social responsibility, and environmental sustainability. Enjoy!
Sustainable Development: the one thing that happens in Vegas that shouldn’t stay in Vegas
Las Vegas has been called many things over the decades, but a sustainable haven for the circular economy and waste management is probably not something you hear very often. Did you know that Las Vegas currently ranks seventh in solar energy supply per capita across the whole US, or that it has global best practices in food waste management?
We dug a little deeper and discovered that MGM Resorts represents about half of the Las Vegas Strip, occupying 70M square feet of buildings, 40,000 rooms, 400 restaurants, and 4M square feet of convention space. Many of MGM Resorts’ sustainability programs are often adopted by other Las Vegas resorts.
We were so impressed, we reached out to the vice president of corporate sustainability at MGM Resorts, Yalmaz Siddiqui, to learn more. I hope when you read this transcript of our conversation, you’ll walk away with a new respect for MGM Resorts and this misunderstood city.
Are digital technologies going to save the planet or accelerate its demise?
Over the years, you’ve probably heard lots of people talk about how digital is saving trees. On the flip side, you’ve also probably found lots of articles proclaiming that the digital economy is threatening the planet. Who’s right? To be honest, both sides have valid points, but like many things, it’s complicated.
In this in-depth article, we take a stab at clearing the muddy waters surrounding this debate. Jump in and join us; we’d love to know what you think.
Green from the ground up
Working in the heart of an industry that is fighting to survive, and many of them failing, PressReader is in a unique position to see up close what makes publishers different ̶ why some succeed while others struggle.
In the magazine space, it’s particularly interesting because unlike newspapers that only seem to focus on a few revenue streams, successful magazine publishers have a broader vision, willing to think outside the box and diversify in ways that make dollars and sense. And if ever there was a poster child for diversification, it’s Hearst.
It’s a success story many of us in this business could take lessons from, not the least of which is Hearst’s support of the UN’s 17 Sustainable Development Goals (SDG). Here are some of the things it’s doing to create a better future for people and the planet. I hope they inspire you as they did us.
PRISA’s EL PAÍS goes above and beyond to meet Spanish society’s expectations for a free and sustainable society.
PRISA is the world’s leading Spanish and Portuguese-language media group. It creates and distributes a variety of content related to culture, education, news, sports, and entertainment. Present in 24 countries, PRISA reaches millions of people through its global brands, one of which is El País, the leading Spanish-language media outlet, with more than 65 million readers.
PRISA’s commitment to defend and expand democratic liberties in Spanish-speaking countries is very evident in the bold initiatives supporting SDGs outlined in its 2019 Social Responsibility and Sustainability Report.
Here are just a few from EL PAÍS, PRISA’s flagship Spanish title, and one of the most popular publishers on PressReader since joining our platform in 2004. The digital edition of EL PAÍS, along with that of its sister publications (AS and Cinco Días), can also be found on Kiosko y Más – an aggregated platform of 400 quality Spanish newspapers and magazines built in 2011 using PressReader’s Branded Edition technology.
Public Libraries play a vital role in sustainable development
Sustainable Development Goals (SDG) adopted in 2015 by the United Nations don’t seem to be getting the same level of attention. I decided to test that assumption and research what’s been happening in libraries.
PressReader has always been a huge fan of libraries. Having worked with them all over the world since 2003, we know what a special breed of people librarians are. When you ask them why they chose to work in an industry that’s often underfunded and underappreciated, you hear very similar reasons: a love of serving others in need, a belief in the mission of democratized access to information and learning, and the power of human connection.
During our research into their sustainability practices, we discovered that many are actively working to contribute to the 2030 SDG agenda across all three pillars – people, planet, prosperity. During the COVID-19 pandemic, this was even more evident.
So it gives us great pleasure to showcase just how much libraries do to create a more sustainable world for all of us. We hope these examples will inspire you and help you appreciate why libraries are essential for humanity, the economy, democracy, and Planet Earth.
Time to set the facts straight on travel and tourism's role in sustainable development.
It’s easy to forget how important the travel and tourism industry is to our global economy and the livelihoods of hundreds of millions of people. But, COVID-19 changed all that. We didn’t have to imagine what it’s like for the world to be grounded; we experienced first hand how bad things can get, and none of us wants a repeat performance.
In 2019, travel and tourism generated 25% of the world’s new jobs (330M) and contributed 10.3% of the global GDP – outpacing the growth of the global economy for the past nine years. The pandemic decimated the sector almost overnight, with hundreds of millions of jobs lost, and revenues plummeting by over a trillion dollars.
If there’s any possible silver lining in this cloud of uncertainty and despair, perhaps it’s that people are waking up to how critical travel and tourism is to the global economy, the livelihoods of the world’s most vulnerable citizens, and its contribution to sustainable development.
I hope you’ll take the time to read this article and learn the truth of travel and tourism’s impact on sustainability.
Retention in Hospitality
Overview
For decades, the hospitality industry went to extraordinary lengths to cater to the needs of their guests during their stay, so they’d keep coming back for more. In the early 80s, they quickly copied the airline industry’s attempt to attract and retain customers with loyalty programs that soon set the bar for other businesses to follow.
But with today’s high-demand,”me first travelers, loyalty program points aren’t adding up to engagement or repeat business like they used to.
Travelers have more choices than ever in terms of places to stay, especially with the explosion of OTAs, home-sharing, and private vacation rentals. Choosing your hotel is like picking a needle from a haystack. If you don’t stand out throughout the customer’s pre-purchase journey, you’re invisible. Sure, you can snag a customer with a very cheap nightly rate, but that tactic is not sustainable. Only exceptional experiences pre-, during-, and post-stay will make them remember you fondly when they next choose to travel.
But it’s not just guest retention hotels need to worry about. Employee turnover is an escalating problem for hotels in many parts of the world, with churn rates ranging from 30 to over 73%.
From the moment someone arrives at your hotel, their experience meter starts running: starting with the valet at the entrance to the front desk clerk to the concierge to the restaurant greeter, server, busboy, or chef and to the housekeeping staff who prepared the room for their arrival. The guest might never even see many of your employees face-to-face, but their efforts speak volumes in terms of the customer’s impressions and evaluation of the hotel.
Employee expectations, just like guest expectations, are always changing and growing. Keeping up with the latest trends for attracting and retaining top talent and growing customer loyalty and revenues is an ongoing challenge.
Let us make it easier for you with a collection of articles from the January 2020 edition of The Insider magazine: The Art of Retention.
Hotel hiring strategies
In September 2019, at the Skift Global Forum, we watched a captivating speaker ask the audience upfront,”How do we feel about our average industry rate of turnover being 73.8%? Talk about bringing down the house! Harsha Chanrai, founder and CEO of Saira Hospitality, didn’t hold back any punches. The team at PressReader just had to find out more.
Check out this fascinating interview we had with Harsha on how hotels that invest in local talent with an innate”desire to serve are growing brand loyalty and retention by leaps and bounds.
Privacy and personalization
In the past year, there have been more than a few data breaches in the hospitality industry which has had serious impacts on the affected brands’ reputations and consumer trust.
Many advocates of the European Union’s General Data Protection Regulation (GDPR) and the new California Consumer Privacy Act (CCPA) hope that new laws will help put a stop to privacy abuse in the hotel industry, but it won’t be easy.
And what about personalization? How can hotels market to an audience of one with their hands tied on the use of personal data? We decided to take a deep dive into the challenge and offer some ideas.
Guest retention
Did you know that 77% of brands today could disappear, and no one would care? Consumer loyalty has become as fickle as the weather. And the hospitality industry is not immune.
Increasing retention rates of your guests by as little as 5% can boost your profits anywhere from 25%-95%. Having a person stay in your hotel is the warmest lead you’ll ever get to turn a stranger into an advocate for the brand. So don’t let the opportunity pass you by. Here are some simple ways to grow guest retention in your hotel. We’d love to know what you think.
Employee retention
Employees can be the best ambassadors for your hotel, but only if they have the tools and training to showcase your brand in every interaction with a visitor or customer. A stunning lobby entrance may impress a guest for a moment, but a memorable”surprise and delight experience with an employee will last long after they leave, which is why it is so important to look for the hospitality gene in the hiring process.
Investing in talent with an innate desire to serve will grow brand loyalty and retention. People who care about people and who understand the importance of delivering superior guest experiences all day, every day, are the lifeblood of a hotel.
At the end of the day, happy, healthy, and empowered employees translate to a better experience for guests, strengthening the loyalty chain and growing retention and revenues.
Retention strategies
Hospitality, the largest employer in the world, has an annual turnover rate of 31-34%. In the US, the rate for non-management staff is closer to 50%. And if one looks only at the hotel and motel sectors in the US, the annual rate is anywhere between 60-300%!
The situation is the same, if not worse, in the UK, where hospitality is the third-largest private-sector employer with over 3.2M workers. Given the cost of losing an employee can be between 0.5X and 1.5X their salary, it’s pretty clear that hoteliers need to make employee retention a strategic priority.
In December 2019, PressReader reached out to the Forbes Travel Guide Standards Advisory Committee to get insights into what hotels are doing today to retain employees. Because they believe as we do that employees’ experiences have a high impact on customer experience. Check it out!
Sustainability
A decade ago, sustainability in the hospitality sector was a nice-to-have. Today, it is a business imperative as more and more people not only make sustainable travel choices, many are willing to pay more for them. If you care about the planet as much as your guests do, make it obvious to them by making sustainability a commitment, not a marketing strategy. Walk the talk!
PressReader has had the privilege to work with many hotel brands committed to transforming themselves into sustainable properties. Here are a few of our partners that might inspire you.
Lessons from Richard Branson
Facebook, YouTube, Twitter, Snapchat, Instagram, and Pinterest have become addictive to not only consumers but every brand on the planet that is chasing the proverbial long tail to grow scale. Many hotels are citizens of that madding crowd.
With three billion people online, it’s tempting to try and reach them all with advertorial content, especially when the cost of distribution is next to nothing. But spewing out tweets and posts like water through a firehose isn’t engagement; it’s spam.
But what can hotels do is to turn over a new leaf and really start to show they care about the people who work for them, connect with them on social, and stay with them?
Check out these six lessons from someone who truly”cares and epitomizes a person-first mentality–self-made billionaire, international entrepreneur, and founder of the Virgin Group, Sir Richard Branson.
Guest Experience
Overview
We have so many things available to us today. We live in a globalized, interconnected world that allows us to buy just about anything from anywhere. When it comes to commerce, the planet is truly borderless. But in our consumeristic society, experiences which are not material in form become more material in our appreciation of them, because they are things that money can’t buy — whether it’s going to an exclusive event, scaling a mountain for the first time, or just meeting someone remarkable.
Although, technically, events and adventures are tangible goods, they come with the unexpected. No two people experience the same happening the same way. It’s like every experience is made just for you — be it from a friend, through a business, or from publisher.
Businesses and brands that understand this individuality are incorporating it into their culture and decision-making processes. They’re not looking to foster loyalty through material goods. They are being creative in how they engage with the me-firsts of the world, so they can provide a much more personalized experience to their customers.
All these unique experiences lead to a deeper loyalty for that brand. Not only does the customer understand and appreciate that the business has taken the time to get to know what their customers are all about, but they’re essentially giving those customers the gift of time — an experiential gift which makes the most of this precious commodity — a gift that customers remember and value long after the experience is over.
It’s time to dedicate a full report to power of experience and the economy that is making hotel guests’ time and lives more fulfilling. We dig deeper into what some hotel brands are doing to serve society’s growing desire for experiences over things.
Hotel technology
Spending is shifting quickly from material goods to travel, particularly with millennials – a trend that isn’t expected to change anytime soon. It’s not surprising that every business wants a piece of action in the Experience Economy, and naturally, there’s a lot of competition in the space now. There’s traditional brands that have always been there, but with the addition of digital disruptors like Online Travel Associations (OTA) and alternative accommodation providers like the Airbnbs of the world. In the middle of all this frenzy is a new breed of traveler: a more controlling, more demanding, more informed, and more impatient consumer that holds all the cards. The days of travelers returning again and again to their favorite brands through the pull of loyalty points are fading fast as more and more consumers flip the loyalty equation upside down. So how do we hold onto them?
Personalization
Hotels and airlines must focus on individuals, not demographics, in their design of products, services, and communications. Emphasis on the individual must permeate the entire organization and become an integral part of its corporate culture. Today’s digitally-empowered consumers won’t accept anything less. How can we give them exactly what they’re looking for?
Digital experiences
To survive, let alone thrive, airlines and hotels will need leaders with visions that look far beyond analytics that only tell them what worked yesterday. 21st-century leaders need to be brave pioneers who – as one of the greatest American writers of the 20 century, Kurt Vonnegut said –”continually jump off cliffs and develop their wings on the way down.
One of the first steps in that journey will be the reinvention of their organizations into Experience is Everything (EiE) enterprises.
Customer Loyalty
For over 200 years, public libraries have been bastions of democracy. Going beyond offering free, unfettered, and equal access to information, public librarians are staunch advocates for media literacy, continually championing efforts to nurture an informed constituency that will actively participate in the democratic process.
Forbes Travel Guide
The hotel industry is experiencing massive changes in consumer behavior, customer expectations, and technology. The entire hospitality is now in a state of perpetual transformation as it tries to reinvent itself for a profitable and sustainable future. We reached out to Jerry Inzerillo, the CEO of Forbes Travel Guide from 2014 to 2018, for an expert opinion about how hotels can reinvent responsibly, and capitalize on the Experience Economy.
Library Trends
Overview
For thousands of years, libraries have helped pave the way for billions of people who sought knowledge, inspiration, support, safe harbor, and community.
In the 4th century BC, the Library of Alexandria was not only a repository for the world’s greatest wisdom, it was also a democratic cultural center that, unlike the other libraries that existed only for the wealthy, opened its doors and collections to any earnest scholar.
And then there were the libraries spawned from the Renaissance – a period that advocated for an open and participatory democratic society that stood up for human rights and social justice.
Fast forward to the 21st century and we find libraries confronting massive changes in technology and social behavior – trends that are shaking the very foundations upon which libraries were built.
Digital media
In the past, libraries thought that offering a small selection of printed media along with a few select digital editions of periodicals and newspapers was sufficient to support patrons demand for local and national news content.
But today’s expectations far exceed these antiquated single-source solutions. The world of knowledge and news is now at patrons’ fingertips, and they expect unlimited, uninhibited, free access to all it has to offer through the library.
Technology
During the Renaissance, one of most important inventions of our time came into being – the printing press. If not for that technology, there would be no public libraries.
Today technology is advancing so fast, it’s hard to keep up with it. Some people may feel like it is the beginning of the end for libraries, but, in fact, it is enabling the dawn of a new Renaissance.
Journalism
The internet instigated fundamental changes in social behavior and turned people from passive consumers into active participants who want to control almost every aspect of their lives. It also changed the role of journalism from being a lecture delivered by a central authority in a one-to-many paradigm, to a conversation that connects communities in a many-to-many relationship.
When quality journalism is made available in public libraries and promoted by librarians, it fuels the power of the person and the collective by connecting people and ideas.
Democracy
For over 200 years, public libraries have been bastions of democracy. Going beyond offering free, unfettered, and equal access to information, public librarians are staunch advocates for media literacy, continually championing efforts to nurture an informed constituency that will actively participate in the democratic process.
Library communities
A study from The University of Pennsylvania reported that”public libraries are dynamic, socially responsive institutions, a nexus of diversity, and a lifeline for the most vulnerable among us.
So libraries are not only the custodians of the world’s greatest treasures, they have the power to change the world, and many of them are doing it one community at a time.
Information literacy
In a world where news fatigue is a real and growing problem, and information literacy a global concern, it’s more important than ever for people to have access to the trusted content they need. Librarians, as advocates for the truth, are working hard to help those who struggle with information literacy by teaching them how to differentiate fact from fiction.
Copyright Laws
The internet is still in its infancy, and we’re about to enter into a very exciting era as it matures at lightning speed – evolving into a digital, virtual, and artificial world that governments and lawyers could never imagine.
So pay attention to emerging copyright laws and take action where necessary, but don’t panic. It’s not the end of the internet as we know it, just an attempt to balance the scales between those who champion unregulated internet freedoms and those who want to control them.