Companies are more than business. Today, they need to be citizens. No wonder the term corporate social responsibility (CSR) was born. CSR efforts have a broad focus on environmental, social, and governance (ESG) practices, involving all stakeholders and integrating these areas into all aspects of the organization.
As employees increasingly seek meaning and impact in their jobs, companies want to act and are looking for people who act with purpose. It's consumer demand too! A survey by Agility PR Solutions found that 92% of consumers want companies to incorporate socially responsible practices - such as protecting the elderly, eradicating disease, and increasing access to quality education - into their corporate identity. Already in 2015, Cone Communications pointed out that 91% of global consumers expect companies to do more than achieve profit. They also operate responsibly to address social and environmental issues.
And companies are driving change. In 2019, the Global Reporting Initiative (GRI) revealed that 9 out of 10 of the world's largest companies by revenue already report on their ESG performance. However, we often hear more about environmental and sustainability practices than those that value the "S" in ESG, which represents the social component in these organizations' performance.
It pays for leaders, alongside employees, to engage in achieving good health and equity, to dedicate themselves to creating resilient communities where everyone has the opportunity to thrive. To impact the surrounding community, consider investing in capacity building for non-profits, developing health equity programs, even employee involvement in workplace giving campaigns for philanthropic institutions. Doing good is contagious!
HOW TO START?
1) Bring together the board, management, and staff to identify social impact issues that involve your employees and your area of expertise.
2) Set priorities. No organization can work on all issues effectively. Continue to maintain a recycling program in the office, giving the right destination to the residues and investing in the qualification of your workforce. But also establish collaborative partnerships with other institutions to broaden your scope and benefit others.
3) Measure your progress. Organize a team and take the time to show how you are measuring your impact and how far you have progressed.
4) Choose your partners well. Join hands with entities or companies that share your commitment to advancing social impact issues. Choose partners that complement and accelerate your work. Make it inclusive of diverse groups and ensure a wide range of voices benefit, including the stakeholders most impacted by the issue.
To solve long-term problems the first step has to be taken in the short term. We need to roll up our sleeves and get started. For society to move towards more justice and equity, it will be necessary for all of us to work together.
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