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Why You Should Think About A Materiality Assessment

August 2024, by MM-Eye

Conducting a materiality assessment is one of the foundational steps for companies, brands, and organisations striving to become more sustainable. This pivotal process helps identify what truly matters to your business and aligns your sustainability efforts with the expectations of consumers and stakeholders.

What is a Materiality Assessment?

A materiality assessment is a strategic tool used by organizations to identify and prioritise the environmental, social, and governance (ESG) issues that are most relevant—or “material”—to their business operations. The process involves gathering insights from a wide range of stakeholders, including customers, employees, and suppliers. Understanding which sustainability issues are most important to these groups, companies can focus their efforts on areas that will have the most significant impact, both in terms of business performance and social responsibility.

At its core, a materiality assessment is about listening. It’s about engaging with your stakeholders to understand their concerns, expectations, and values. For example, consumers may prioritise issues like reducing plastic packaging, ethical sourcing, or waste reduction, while internal stakeholders might be more focused on governance and long-term risk management. A materiality assessment assists in identifying where these priorities intersect and diverge, enabling businesses and organizations to develop a sustainability strategy that is effective and aligned with stakeholder expectations.

How Materiality Assessments Help Understand What’s Important for Consumers

Conducting a materiality assessment provides valuable insights into what truly matters to your consumers. Our own sustainability study (SDSS) shows that consumers are more informed and values-driven than ever before. They are increasingly making purchasing decisions based on a brand’s sustainability practices, and they expect transparency about how companies are addressing key issues.

A materiality assessment allows you to tailor your messaging and actions to meet your consumer base’s expectations by identifying the sustainability topics that resonate most with them. Whether it’s a commitment to reducing plastic waste, ensuring fair labour practices in your supply chain, or minimising your carbon footprint, understanding consumer priorities is fundamental to building brand loyalty and trust.

Materiality assessments can also reveal emerging trends and concerns that may not yet be on your radar. Understanding the perspective of consumers and other important stakeholders will ensure that your company stays ahead of the curve, adapting to changes in consumer sentiment and expectations before they impact your bottom line.

How MM-Eye Can Help

At MM-Eye, we specialise in conducting materiality assessments that go beyond the basics. Our model is designed to engage with both consumers and stakeholders alike, providing a holistic view of what matters most. We use our strong experience in market research to gather qualitative and quantitative data, ensuring that the insights we deliver are actionable and aligned with your strategic goals.

Our materiality assessment model is rooted in deep consumer and stakeholder understanding. We dig deeper to expose the underlying motivations and concerns that drive stakeholder behaviour. This allows us to provide you with a clear roadmap for integrating sustainability into your business strategy in a way that resonates with your audience and adds value to your brand.

Whether you’re just starting your sustainability journey or looking to refine your existing strategy, MM-Eye can help you identify the issues that matter most to your business and its stakeholders so you can make informed decisions that enhance your sustainability performance, strengthen stakeholder relationships, and drive long-term success.

If you’re ready to take the next step toward sustainability, contact us today at info@mm-eye.com or use the form below to book a consultation.

World Toilet Day 2024: Why does it matter?

November 2024, by Nicola Church

World Toilet Day is held every year on 19 November to celebrate toilets and raise awareness of people living without access to safely managed sanitation. Toilets are an essential space at the centre of our lives and should be safe, secure and available to all. Yet, 3.5 billion people worldwide still live without safely managed sanitation, and 2.2 billion people live without safely managed drinking water.

When a challenge is this big, it can be hard to see how we can have an impact, but as companies, organisations, governments, and even individuals, we can all manage our water sustainably and contribute towards making a difference.

In our latest Say Do Sustainability Study (SDSS), we saw that though consumers recognise that it is important to take personal initiatives to live sustainably, the impact of their actions is significantly increased when supported by bigger, coordinated efforts. A united approach where community projects, government policies, and corporate responsibility all converge to enhance the impact of individual actions. World Toilet Day presents a platform on which to begin this journey and state your organisation’s commitment to drive change.

How can MM-Eye help?

At MM-Eye, we specialise in conducting materiality assessments that go beyond the basics, helping companies develop effective ESG strategies. We gather insights from a wide range of stakeholders, including customers, employees, and suppliers, to understand the issues that are most important to them, allowing you to focus efforts on areas that will have the most impact, both in terms of business performance and social responsibility.

Our model for conducting materiality assessments is designed to engage with consumers and stakeholders, providing a holistic view of what matters most. We use our strong experience in market research to gather qualitative and quantitative data, ensuring that the insights we deliver are actionable and aligned with your strategic goals.

The model is rooted in deep consumer and stakeholder understanding. We dig deeper to expose the underlying motivations and concerns that drive stakeholder behaviour. This allows us to provide you with a clear roadmap for integrating sustainability into your business strategy in a way that resonates with your audience and adds value to your brand.

Whether you’re just starting your sustainability journey or looking to refine your existing strategy, MM-Eye can help you identify the issues that matter most to your business and its stakeholders so you can make informed decisions that enhance your sustainability performance, strengthen stakeholder relationships, and drive long-term success.

If you’re interested in learning more about how we can help you to set up and benefit from a Materiality Assessment, contact us today at info@mm-eye.com or use the form below to book a consultation.

Are Value-Driven Careers the Key to Sustainable Business Growth?

May 2024, by Ben Davis

Why Value-Driven Careers Matter

Young professionals today are increasingly seeking careers that resonate with their core personal values. This shift towards value-driven career choices reflects a desire for work that fosters personal fulfilment and aligns with a deeper sense of purpose. This is an article which will take you through a presentation I gave at the MRS Conference in March, exploring the trend of value-driven career choices and the implications this has for employees, businesses, growth and positive change.

The Rise of Value-Driven Careers

Gone are the days of rigidly predefined career paths. Today’s young professionals are prioritising values such as sustainability, social impact, and work-life balance when making career decisions. A recent European Investment Bank survey found that 75% of under-30s in the UK consider a potential employer’s climate impact a significant factor during job hunting, and 1 in 5 say it is their top priority. This highlights the growing importance for businesses to demonstrate a commitment to ethical and sustainable practices when attracting and retaining future talent.

This focus on values goes beyond simply finding a job that pays the bills. Individuals are seeking work that aligns with their personal beliefs and allows them to contribute to a cause they believe in, which can lead to increased motivation, engagement, and overall job satisfaction for employees.  Businesses benefit through improved productivity, employee retention and growth. An increasing number of businesses lead by example by signing up to movements and certifications such as B Corp and commit to using their business as a force for good.

Understanding B Corps

The B Corp movement redefines business success by prioritising social and environmental impact alongside profit. Spearheaded in the UK by the nonprofit B Lab, it certifies companies that meet rigorous standards of performance, accountability, and transparency, ensuring they operate for the benefit of all stakeholders, not just shareholders.

By fostering a community of purpose-driven businesses that collaborate and share best practices, the movement aims to create a more sustainable and inclusive economy, demonstrating that businesses can be a force for good in the world. And with over 8,000 B Corps globally, the movement already has momentum, and it reflects the growing demand for businesses that operate with a higher purpose, beyond profit, instead committing to social responsibility and environmental sustainability as a business. Now more than ever, people like me are looking to support these brands, whether that be as a customer or a job seeker and value driven career choices are becoming more common. Therefore, it is those businesses that are clearly communicating their positive impact and sustainability strategies that are growing faster, recruiting easier and appealing more to today’s consumer, as we discovered in our recent Say-Do Sustainability Study.

Employee Ownership: Fostering Retention and Engagement

Attracting young talent with shared values through something like B Corp is crucial but retaining them requires an ongoing commitment. MM-Eye’s employee ownership structure has given us a sense of belonging and purpose here at MM-Eye. The Partner Council empowers younger employees to contribute fresh perspectives and participate in decision-making and the rewarding working environment has given us a sense of ownership that reflects in our work. This not only fosters growth and innovation but also creates clear career paths and a sense responsibility that ultimately improves employee retention.

A Mutually Beneficial Approach

By prioritising values and embracing movements like B Corp and employee ownership, companies can create a win-win scenario for both them and their employees. Employees who find purpose in their work are more engaged and productive. Businesses that prioritise ethical practices and social responsibility are better positioned to attract and retain top talent.  Ultimately, this value-driven approach can fuel positive social and environmental change while ensuring the long-term success of a business.

At MM-Eye, alongside customer research, we also specialise in conducting stakeholder and employee research that helps businesses understand and foster a positive culture.  As a certified B Corp, we are uniquely positioned to assist other companies working towards B Corp certification and we have developed a range of research-based tools to help other aspiring B corps, including our Materiality Assessment and B Corp data gathering surveys. Through insights on materiality, brand health and by feedback from customers, suppliers, employees, and wider stakeholders, MM-Eye can help you prioritise and amplify your positive impact and business growth.  If you think we can help you out, or you want to get in touch for a chat, please book a consultation using the form below.

Ownership Culture: MRS Reflections

May 2024, by Ettie Etela

March, I had the privilege of speaking at the MRS Conference at the “Reimagining the Future of the Insight Function” round table session alongside Human8 and Magenta. During my talk, I discussed the concept of ownership culture and its positive impact on all of the employee partners at MM-Eye. My hope was to provide other teams and agencies with a blueprint for fostering an ownership culture that can improve the culture within their companies and teams.

At MM-Eye, we have long understood that the heart of a successful business is its culture. Culture shapes the environment in which we work and directly influences our output, creativity, and the overall health of our organisation. As someone who has navigated the market research industry for over two decades, I have witnessed firsthand the pivotal role a supportive, engaging, and inclusive culture plays in business success.

Several years ago, MM-Eye embarked on a transformative journey. We transitioned from a traditional agency model to become a fully employee-owned entity, and along this path, we achieved B Corp certification. This was a fundamental change in how we operate and measure success. Our transformation has been rooted in practising what we preach, impacting every facet of our business—from our ownership structure to how we approach our projects.

Living the Ownership Mindset

For us at MM-Eye, ownership is more than holding shares —it’s a mindset embedded deeply within our culture. This mindset has fostered an environment where creativity and innovation flourish. Every member of our team is empowered to think and act like stakeholders, bringing their best ideas to the table. This sense of ownership has enhanced our creativity and also led to significant improvements in productivity and financial success.

The Power of Inclusion and Diversity

Our commitment to diversity and inclusion has reshaped our recruitment strategy. We step beyond conventional channels, attracting a broad spectrum of candidates through community engagements and lifestyle platforms. This has enriched our team dynamics and bolstered our capability to connect with and understand our diverse client base. Our workforce reflects the communities we serve, enhancing our insights and strengthening our position in the market.

Nurturing Talent and Well-being

We also believe in nurturing our talent through continuous learning and development opportunities. Our talent development approach is all-inclusive, supporting new joiners and seasoned experts alike. We have also embraced a hybrid work model that caters to individual needs, fostering increased productivity and job satisfaction. Our robust well-being program, especially our focus on mental health, is a cornerstone of our culture, ensuring our partners remain motivated and engaged.

Blueprint for creating an ownership culture

Our experience and success in fostering a thriving culture is not just our story – it could be yours, too. I presented the delegates with five key takeaways on how we foster an ownership culture.

1. Instil a sense of ownership and purpose, whether in your team’s work or your company as a whole
2. Develop an ongoing dialogue about your impact that is more than the bottom line
3. Implement a working model that enhances productivity, one that will enable your team to bring their best
4. Develop a strong position to attract new talent, creating clarity about your values.
5. Involve employees in decision-making to cultivate a sense of ownership and drive.

Transform your business culture with MM-Eye – where everyone owns success.

Are you ready to reimagine the culture of your business? At MM-Eye, we specialise in conducting stakeholder and employee research that helps businesses understand and foster a positive culture. As a certified B Corp, we are uniquely positioned to assist companies working towards B Corp certification. We provide insights on materiality and gather feedback from suppliers, employees, and stakeholders, helping you prioritise and amplify your positive impact.

If you’re interested in learning more about how MM-Eye can support your journey toward a more inclusive and productive workplace, please book a consultation using the form below.

How stakeholder research can help businesses leverage water for peace: World Water Day 2024

March 2024, by Ben Davis

World Water Day, marked annually on March 22nd, help to highlight the vital role of freshwater in sustaining life and fostering global development.

With 2.2 billion people lacking access to safe water worldwide, the imperative to address the global water crisis is clear. In line with Sustainable Development Goal 6, World Water Day 2024 focuses on “Leveraging Water for Peace,” highlighting water’s pivotal role in promoting peace, stability, and cooperation among individuals, businesses, industries and nations. While this may initially seem like an issue for global leaders, this article explores how vital it is for businesses to step up and ensure they responsibly use water sources, protecting them against pollution and over-extraction whilst being transparent with all stakeholders in the decision-making process for water use.

Understanding how businesses can exacerbate water conflicts:

Water scarcity and mismanagement have long been recognised as underlying factors contributing to conflicts and tensions globally. Competing demands for limited water resources exacerbate social, economic, and political inequalities, often leading to access, distribution, and control disputes. From textile pollution along River in Indonesia to oil spills in the Niger Delta to the over-extraction of water from businesses in California, businesses are at the heart of water-related issues and must consider all stakeholders, not just their shareholders, in decisions regarding the resource.

Closer to home, we have seen brewing companies extracting huge quantities of groundwater, vast agricultural and industrial runoff, and let’s not forget the water companies that are discharging sewage throughout the UK. Whilst these cases may not necessarily lead to the typical conflicts you may think off, the main conflicts arise within stakeholder groups and can result in long legal battles, exposure of the situation through civil society pathways and ultimately can destroy the reputation of businesses and the livelihoods of people who would otherwise rely on the water sources.

How business can harness water for peace:

Businesses are responsible for ensuring equitable access to water and sanitation services for all, and must lead by example and advocate for the necessary change. This means businesses have a responsibility to be an example to their customers to transparently report on their water-related impact, and a responsibility to use their status to advocate for policy reforms on an industry and even national level. As the topic of water security and pollution becomes ever more prominent, ethical consumers are seeking to support businesses that show that are actively leading positive change and helping to tackle the vast water related issues we face today.

World Water Day 2024 presents businesses with the perfect opportunity to reframe water as a source of collaboration rather than contention, and gives them a platform to state their commitment to driving change. So, what can businesses do to ensure they are leading change and help to harness water for peace?

The role of market research:

In an age where environmental organisations, civil society and journalist shed light on business activities and their environmental impact, businesses face significant operational and reputational risks if they do not comply with regulations or are seen to use resources irresponsibly.

As I have demonstrated earlier in the article, and with the results of our most recent Say Do Sustainability Study, water related issues are front of mind for consumers and water conflicts are a major area whereby businesses slip up and can often face major disputes with stakeholders who share interests or rely on the same water source.

So, understanding all stakeholder views in the decision making process of a business, especially regarding shared resources is a must. Market research can be used to conduct essential stakeholder research, helping these businesses understand the root causes of water-related conflicts and developing effective ESG strategies through materiality assessments to mitigate risks.

Stakeholder research is essential for businesses to ensure inclusivity and equity in water governance, giving all parties an equal platform to voice concerns in the decision-making process. It will also help businesses identify areas of intervention and tailor their strategies to maximise positive outcomes, helping them to effectively manage the water resources they use and withhold their reputation.

With this approach, businesses help lead and contribute to the sustainable development of regions and the protection of water resources, acting as a mediator in any disputes by using data-driven insights to help inform decisions.

Therefore, market research helps businesses enhance their social impact and reputation through corporate water stewardship, responsible water management practices, and partnerships with local communities to offer practical solutions and ensure cooperation and peace in water-stressed regions.

Our message:

By leveraging water as a catalyst for cooperation and collaboration, businesses can drive positive change and create shared value for people and the planet, not just profit.

However, given water’s importance, it is essential that businesses consider all stakeholders when discussing water-related issues. Stakeholder research plays a crucial role in informing business strategies, identifying opportunities for intervention, and maximising impact of ESG strategies. Here at MM-Eye reaffirm our commitment to leveraging water for peace through our stakeholder research and materiality assessment.

In light of World Water Day, we hope to have brought awareness to the unique opportunity businesses have to contribute to sustainable development, and building a more inclusive, equitable, and water-secure world for all.

If you would like to know more about stakeholder research and materiality assessments please schedule a meeting with the team using the calendar below!

This Way Forward – celebrating our first B Corp Month

March 2024, by Catherine Gordon

March is B Corp month and this is the first time we have celebrated here at MM-Eye as a certified member of this inspiring community of businesses. When we became a B Corp in September 2023, MM-Eye joined a growing community of businesses worldwide that have achieved high standards in social and environmental and are committed to using their business as a force for good.  In the few months since becoming a certified B Corp, we have already seen the benefits of being part of a vibrant community of like-minded businesses sharing the same values, driving positive change and using business as a force for good.  The theme of this year’s B Corp month is ‘This Way Forward’ reminding us that becoming a B Corp is not a destination but the start of a journey of continual improvement.

So, what is B Corp?

B Corp is an accreditation awarded to companies who have achieved high standards of social and environmental performance, transparency, and accountability and meet targets across five areas: governance, workers, community, environment, and customers.  There are now over 8,000 B Corps worldwide, and more than 1,800 of these companies are in the UK.  We are very proud to have joined their ranks. In the UK, B Lab assesses a company’s achievement against a range of targets through a rigorous process resulting in a score.  To remain a B Corp, a company must recertify every 3 years and show an improved score.

Our B Corp experience

We began our B Corp journey in 2022 when we began the application process.  In that time, we have seen three main business benefits to being part of the B Corp community:

1. Renewed enthusiasm and motivation in our team;
2. Attracting new staff in our recruitment campaigns;
3. New business opportunities identified, specifically research and stakeholder engagement services tailored to support other B Corp companies.

Our Team: In preparing our B Corp application, we enhanced and recommitted to various staff welfare, well-being and training initiatives, which our staff enthusiastically engaged with and took ownership of, for example, our initiatives to achieving a net zero carbon footprint and improving engagement with our communities.  We are now proud partners of Ecologi (also a B Corp) to help manage and offset our carbon footprint, and our community action team partnered with Hands on London to organise a company community day working on a nature conservation project at Wormwood Scrubs Park, West London. The day was so successful we are already planning our next.

Recruitment: We have recruited several new team members in the last year to support our ongoing growth.  In a competitive recruitment environment, we felt our ethos of being a business driving positive change helped us to stand out from other recruiters, attracting quality candidates who share our values.

Tailored research services for other B Corps: As a result of our experience applying for B Corp, we saw the potential for market research tools to make life easier for other companies embarking on their B Corp journey.  We created online surveys to gather data and opinions from employees, customers and suppliers as evidence to support our B Corp application.  These surveys are now available to be used by other companies applying for B Corp and for existing B Corps when they start their re-certification in 3 years or annual self-certification.

We also created a service to support companies through the Materiality Assessment process. This process helps companies prioritise actions which will have the greatest impact on the environment, the community, and governance (ESG).  Our insight-driven Materiality Assessment service, embedding stakeholder engagement and insight tools at the heart of the process, ensures companies identify and prioritises key initiatives that are the most important to their stakeholder groups.

We are always keen to collaborate with other B Corp businesses and share our skills to benefit others.  We offer these services at a 10% discount on our usual consulting rates to B Corps and those companies applying for B Corp. If you want to learn more about our B Corp data collection surveys or our Materiality Assessment service, or indeed just want to chat about our B Corp journey, please do not hesitate to get in touch.  We look forward to speaking to you soon.

HOW B CORP IS BENEFITING OUR BUSINESS

When we became a B Corp in September 2023, MM-Eye joined a growing community of businesses worldwide that have achieved high social and environmental performance standards and are committed to using their business as a force for good.  In the few weeks since becoming a B Corp, we have already seen the benefits of being part of a vibrant, positive community of like-minded businesses sharing the same values and seeking to drive positive change.

So, what is B Corp?

B Corp is an accreditation awarded to companies who have achieved high standards of social and environmental performance, transparency, and accountability and meet targets across five areas: governance, workers, community, environment, and customers.  There are almost 6,000 B Corps worldwide, and more than 1,500 of these are in the UK.  We are very proud to have joined their ranks. In the UK, B Lab assesses a company’s achievement against a range of targets through a rigorous process resulting in a score.  To remain a B Corp, a company must recertify in 3 years and show an improved score.

We began our B Corp journey in 2022 when we began the application process.  In that time, we have seen three main business benefits to being part of the B Corp community:

1. Renewed enthusiasm and motivation in our team;
2. Attracting new staff in our recruitment campaigns;
3. New business opportunities identified, specifically research and stakeholder engagement services tailored to support other B Corp companies.

Our Team

In preparing our B Corp application, we enhanced and recommitted to various staff welfare, well-being and training initiatives, which our staff enthusiastically engaged with and took ownership of, for example, our initiatives to achieving a net zero carbon footprint and improving engagement with our communities.  We are now proud partners of Ecologi (also a B Corp) to help manage and offset our carbon footprint, and through our community action team we recently partnered with Hands on London to spend a day working on a nature conservation project at Wormwood Scrubs Park, West London.

Recruitment

We have recruited several new team members in the last year to support our ongoing growth.  In a competitive recruitment environment, we felt our ethos of being a business driving positive change helped us to stand out from other recruiters, attracting quality candidates who share our values.

Tailored research services for B Corp companies: As a result of our experience applying for B Corp, we saw the potential for market research tools to make life easier for other companies embarking on their B Corp journey.  We created online surveys to gather data and opinions from employees, customers and suppliers as evidence to support our B Corp application.  These surveys are now available to be used by other companies applying for B Corp and for existing B Corps when they start their re-certification in 3 years or annual self-certification.

We also created a service to support companies through the Materiality Assessment process. This process helps companies prioritise areas where change will have the greatest impact, such as the environment, social impact, and governance (ESG).  Our insight-driven Materiality Assessment service, embedding stakeholder engagement and insight tools at the heart of the process, ensures the company identifies and prioritises key initiatives that are of most significant importance to stakeholder groups.

We are keen to collaborate with other B Corp businesses and share our skills to benefit others.  We also offer these services at a 10% discount on our usual day rate to B Corps and those companies applying for B Corp. If you want to learn more about our B Corp data collection surveys or our Materiality Assessment service, or indeed just want to chat about our B Corp journey, please do not hesitate to get in touch.  We look forward to speaking to you soon.