HOBI Weekly Blog Recap (11/27-11/30)
The business world has seen many changes during the last decade, many of which have altered business strategies and traditional industry norms. For example, the pandemic created a heavy dependence on digital communications and a great need for remote support, creating a new set of standards for business industries, including IT asset disposition.
Traditionally, the core services of ITAD have included logistics, data sanitization, certification, onsite services, and more. However, as the digital landscape has evolved, clients’ needs have become more sophisticated. As a result, the ITAD industry is evolving to include a new list of criteria and expectations to meet these needs. HOBI’s president and co-founder Craig Boswell has described these new industry standards as value-added IT asset disposition, or vITAD.
These new value-added services include ESG reporting, a concept that has grown in popularity in previous years and is now something many businesses look for before partnering with other companies. ESG represents an enterprise’s environmental, social, and governance policies and provides transparency and accountability within the workplace.
In the ITAD industry, ESG is accomplished in several ways. ITAD revolves around electronics recycling, making environmental ESG criteria perhaps the easiest to achieve. Environmental standards examine what strategies are in place for potential environmental risks and how a company plans to manage or mitigate such risks. ITAD enterprises like HOBI prioritize environmental safety through every step of the disposition process by ensuring that e-waste is recycled instead of sent to landfills.
ESG social criteria refer to a company’s relationship with its employees, clients, and community, how it performs regarding managing employee health and safety, and its stances on public issues such as human rights and labor standards. The ITAD industry focuses on closing the loop of the circular economy through e-waste recycling. Part of this cycle includes device repair and reuse. Repurposing used devices helps provide an alternative sales channel for brand-new devices. HOBI offers remarketing opportunities and school donation programs to help bridge the digital divide by providing technology to students without access.
Governance criteria focus on the amount of transparency and accuracy a company presents in accounting, reporting methods, audits, leadership, executive pay, and shareholder rights. Electronics recycling requires many steps in device processing that can lead to disaster, and legislative compliance helps hold an enterprise accountable for risk prevention and maintaining certifications.
Staying compliant with government legislation is one of HOBI’s top priorities in all facets of our programs. HOBI’s R2v3, RIOS, and ISO 14001 certifications ensure all equipment is processed under full legislative compliance. We also undergo yearly audits and only work with reputable downstream vendors.
For more information about our ITAD services, call 817-814-2620 or contact HOBI at sales@hobi.com.
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