Corporate Social Responsibility: 2017 Predictions | npENGAGE

A 2017 Outlook on Corporate Social Responsibility

By on Jan 6, 2017

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The Future of Corporate Social Responsibility

When it comes to the social sector, philanthropy, giving back, helping others, improving our communities and our planet—however it’s defined—we are seeing clear and positive trends. Last year, charitable donations hit a record for a second year in a row at an estimated $373.25 billion, corporate giving reached $18.45 billion, an increase of 3.9 percent year-over-year (YoY), and employee participation in their companies’ community giveback has continued to rise, and last year reached 33 percent.

How will this story continue to unfold? Here are some predictions Corporate Social Responsibility in 2017:

Profit + Purpose

We’re likely to see the acceleration of aligning corporate philosophies and sales goals to better meet the needs of underserved populations and to address major global issues, such as noncommunicable diseases, climate change, and poverty. Examples of this include CVS Health’s decision to discontinue tobacco sales, Subaru’s commitment to building fuel-efficient vehicles in eco-friendly plants, and Prudential’s focus on financially empowering underserved communities.

Impact of Corporate Social Responsibility on the Bottom Line

Similarly, we’ll see greater investor interest in environmental, social, and governance (ESG) factors, which will cause the C-suite to further incorporate corporate giving and employee engagement as core components of a strong business strategy. Not only is this the right thing to do, but studies increasingly show a direct link between CSR initiatives and greater profitability, higher investment value, and employee recruitment and retention.

The Expanding Role of HR

The 2016 Cone Communications Employee Engagement Study found that 51 percent of employees won’t work for a company that doesn’t have strong social and environmental commitments, and that 74 percent are more fulfilled when they are provided opportunities to make a positive impact at work. As such, your CSR strategy will become increasingly integrated with HR efforts around employee recruitment, engagement and retention efforts. It’s critical that HR be able to communicate and present defined social programs and campaigns that both current and prospective employees can feel good about.

The Rise of Human Social Responsibility

Employees are increasingly looking for a greater diversity of options for giving back and supporting causes. Organizations need to listen to their employees more and take cues from them. It’s a shift in mindset from Corporate Social Responsibility to what corporate citizenship and philanthropy expert Rachel Hutchisson has coined as Human Social Responsibility, where organizations, as conveners of people, will take their lead from their employees and their individual human social contracts. This will result in more organizations looking for ways to support employees’ causes within the broader scope of their CSR programs, incorporate giving and volunteering that employees do on their own time into these programs, and encouraging skills-based volunteering as a dual employee development and community investment tool.

Measurement, Storytelling and Breaking Silos

The importance of measurement will continue to grow in 2017. We will see continued demand for measuring and reporting the results of grants, community partnerships, and employee programs. Also, aligning results with the UN’s Sustainable Development Goals (SDGs) will gain more attention and will factor into storytelling, particularly with the growing importance of public-private partnerships in business. In the end, organizations must have the infrastructure in place to connect the dots on measurement, impact and storytelling across the entirety of their CSR, Sustainability, PR, Marketing, HR, and IR efforts.

Technology

In order to facilitate more employee participation, build better partnerships and support increasingly robust reporting requirements, CSR software will continue to grow in importance as a core enterprise technology need. To meet the demands of their stakeholders, corporations need a technology platform from which to organize their employee giving and volunteering, tie all of their disparate CSR efforts together, measure and report on their efforts, and tell their impact stories. And just as the private sector has adopted cloud-based and mobile solutions to manage other aspects of the business, CSR will continue to follow.

The notion of corporate responsibility has evolved beyond traditional “checkbook philanthropy”— where checks were written each year to disparate causes and organizations; employees likely didn’t participate in or even know about these donations; and no one ever knew what that money actually did. Today, CSR is transforming to become results-based, impact-focused, and inclusive to engage employees in ways that are meaningful to them. Companies and employees want their efforts to have an impact, and they want to know what that impact is.

In the year ahead, we’ll see organizations diversify their CSR efforts to create stronger, more engaging programs. Measurement will be crucial to a company’s ability to share its impact story with the people and organizations they help, as well as their customers, employees, boards, investors and other stakeholders. And perhaps, these impact stories will even inspire greater participation in causes and campaigns that will help build a better world.

This article was originally featured on CR Magazine’s blog.

ABOUT THE AUTHOR

Jamie Serino was formerly Director of Marketing for Blackbaud Corporate and Foundation Solutions groups.

Bringing nearly two decades of leadership experience spanning the private and nonprofit sectors, Jamie has developed and led transformational marketing and communication strategies in both B-to-B and B-to-C technology industries, including financial services, network security, CRM, Internet telephony and HR/Recruiting. He was instrumental in building the Vonage brand, growing the customer base from 10,000 to 2.5 million while helping the company through its IPO. He also led the centralization of communications and branding at SunGard in order to reposition the company for IPO/acquisition. Jamie began his career working with nonprofit organizations that served people with developmental disorders and mental illness.

Jamie holds a B.A. in psychology from Binghamton University. Committed to philanthropy in his personal life, Jamie has helped nonprofit organizations promote causes related to disaster preparedness, pediatric cancer, developmental disability, clean energy and ocean conservation, and currently serves as a Healing Arts Volunteer at Goryeb Children’s Hospital in his hometown of Morristown, N.J.

Comments (1)

  • Joy Stephens says:

    Great article Jamie. We’ll discuss the topics raised in your article at the Corporate Giving Network Conference on March 2 2017 in Seattle. We’re very excited in that we have a SOLD OUT conference – just goes to show how popular this topic is. Perhaps Blackbaud would like to be a sponsor next year?

    http://corporategn.com/conference/

    Joy Stephens
    Founder
    Corporate Giving Network
    joy@o2joyent.com

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