Ethical business is good business – it’s the future
At KnowNow HQ we’re counting the days now until our next event. So with the clock ticking we hand over to our MD Paula…
Throughout my career I’ve always had roles that are firmly on the commercial side of the fence. I’ve done my fair share of selling, marketing and product development over the last 20 years or so. One thing I’ve learned in that time is that ethical business pays off in so many ways.
We all spend a lot of time at work, we care about it and we strike up meaningful relationships with our clients, suppliers and colleagues. I know it’s a cliche but I really do believe that people buy people, they also buy brands that they identify with. Shared value systems and trust are so important in life and in business.
I’m not exactly saying anything original or groundbreaking here. It’s a no brainer right? Well I’d hope so, and in the main my experience working with and supporting the gambling industry since setting up KnowNow has been enjoyable and positive. I’ve met so many vibrant, fun, innovative and hardworking people. I’ve been amazed by some very cool and inclusive working environments and company cultures.
I genuinely believe that the overwhelming majority of people working in gambling share my values when in comes to social responsibility, player protection and diversity. They want to run and work for companies who are forward thinking. Also they want good products that attract players because they are fun not because they are addictive. Finally they want to innovate and grow commercially in an ethical way.
Basically they get it and that makes me so motivated to provide the best events and information I can to help them achieve their goals.
That’s not the full story though, there are still those amongst us who are resistant to change and who don’t seem to want the industry to move forwards.
One of my favourite (for want of a better word) examples of this was a lovely response we received to a marketing campaign we were running for our upcoming event Equality, Diversity and Inclusion in the Gambling Industry. This enlightened individual commented that he was “interested in business not leftist propaganda!” We shared a joke and a smile about that one at KnowNow HQ but the reason I am sharing this information in my blog is that it demonstrates beautifully that they just don’t get it!
Diversity is good for business.
Our event is all about business and about building a culture that sets you up for success. We want to help people attract and retain the best talent, innovate in a way that brings them new players who keep coming back for the right reasons and ultimately delivers sustained financial growth.
McKinsey research tells us that companies in the top quartile for gender diversity are 21% more likely to have above average profitability than companies in the bottom quartile. The Harvard Business Review tells us there are clear links between diversity and innovation. The Cone Communications, Millennial Employment Engagement Study tells us that young people care about corporate social responsibility practices and that these concerns will influence where they choose to work.
I’m not saying for a moment that there is no place for the sex sells, male dominated products that are often traditionally associated with gambling. It is a market, but it’s only one very narrow and arguably shrinking market. Public opinion has moved on and the smart operators are moving along with it. The Gambling Commission tell us that 44% of women have gambled in the last four weeks. Therefore it makes perfect business sense to develop products for these customers as well.
Then there is social responsibility and player protection to consider. I take this back to my earlier point, people spend with companies they trust. I was talking to one gambler at an event in Monte Carlo a couple of weeks ago who reinforced this. He told me that he chooses the operators he places bets with based on how responsible and trustworthy he perceives them to be.
Ethical business is good business.
If you believe in attracting solid customers and top talent then our events are right up your street.
If you think you get more out of people by treating them fairly and with respect then our events are right up your street.
Furthermore, if you believe in improving the image of the gambling industry and ensuring it is recognised as the legitimate leisure activity that it is, then our events are right up your street.
If you want to implement best practice and avoid regulatory fines then our events are right up your street.
And drawing upon my 20 plus years on the commercial side of the fence I believe that this makes sound commercial sense.
Learn more about how diversity can help build a sustainable, strong, profitable business and attract new customers at our event Equality, Diversity and Inclusion in the Gambling Industry on the 22nd May in London. We have a great lineup of speakers including Neil McArthur the new Chief Executive of the Gambling Commission, Susan Standiford, COO of Zeal, Tina Southall, Director of People at Gamesys and ex Chief Diversity Officer at Vodafone and Johan Törnqvist, CEO at Play’n GO to name just a few.
We’ll also be running a half day workshop on the 23rd May. This is with Emily Leeb who is an inspirational business coach with a background in the gambling industry. Emily will be over from Canada for the event. She’ll be running an interactive session and sharing practical advice around implementing the key takeaways from the conference the day before. Tickets for the workshop go on sale later this week.