The “S” factor is about how a business manages its relationships with its workforce, customers, suppliers and the wider community. It is central to what hospitality businesses do and is fundamentally important to an industry sector that is a major employer with a global footprint. The advantages to a business of “S” factor compliance are manifold and include:
• Greater appeal to a more ESG-conscious
consumer base
• Higher attractiveness to investors
• Improved recruitment and retention of staff
• Better guest reviews and repeat business
• A decrease in the cost of acquisition
