Most of the CEOs working in the United States today agree that it will be companies, not governments or NGOs, that will lead the way to societal change in 2021 and beyond. Companies and their leaders are now acknowledging their impact on the world for countless people and are taking steps to ensure a safer, more equitable, and more accessible digital world.
If you are a business leader looking for ways to influence positive change in the world, it’s vital to understand what corporate responsibility means and the trends companies are likely to follow in 2021. Curriki.org is just one of the many educational causes operating today that thrives thanks to corporate donors’ generous contributions. Consider the reasoning behind the modern corporate responsibility trend and think about whether an innovative educational platform like this is a worthy cause for your organization to sponsor.
What Is Corporate Responsibility?
Corporate responsibility is the notion that powerful companies have the resources and ability to give back to the communities that have enabled their success. Today, company leaders feel a keen responsibility to support those who have supported their companies, and virtually every company operating today manages some charitable effort or supports a social cause while doing right by their current and future employees. For example, it may seem backwards to be stingier when it comes to hiring but it’s not. Corporations need to accept the role of finding only the best fitting talent to work alongside their current employees. Spending extra time on HR, interviews, and background checks for a job will pay off overtime by limiting turnover and maximizing team building.
Perhaps the simplest way American companies take social responsibility is by donating profits to charities, research centers, social change efforts, and other causes. If you are looking for ways to take corporate responsibility with your own organization, donating to worthy causes that align with your company values is a great starting point. Nonprofit organizations and charitable causes serving communities all over the US accept donations that then go on to benefit the lives of the people in their communities.
Many companies are also practicing corporate responsibility by encouraging their customers, partners, and local communities to donate to worthy causes. Corporate fundraisers are fun and effective ways for any enterprise to exercise corporate responsibility in an engaging way. Smaller businesses are particularly well-positioned to organize community-level fundraising efforts as most small businesses have very close ties to their local communities.
Sustainable Growth Initiatives
Modern corporate responsibility often involves environmental responsibility. Companies that use natural resources or have any tangible environmental impact have been experimenting with new, green initiatives that lower their operations’ impact on the environment. Many sustainable growth initiatives have seen fantastic results, both in reducing negative environmental outcomes from business operations and improving the ecological quality of their facilities’ surrounding areas.
Synergy With Nonprofit Organizations
Many nonprofit organizations cannot function without donations, and corporate sponsorship of nonprofit organizations has become a leading corporate responsibility trend in the US. It’s relatively simple for a company to establish a synergistic movement with a nonprofit organization that aligns with their goals, values, and beliefs about societal improvement.
The last several years have been tumultuous, and more companies than ever before are making clear statements about their stances on major social issues. While taking such stances publicly can be risky, making your values and goals as clear as possible to your market is good for business and demonstrates humanity and a desire to inspire positive change in the world. Be careful when exploring activist opportunities to be sure they align with your corporate image, values, and goals.
Measuring the Success of Your Corporate Responsibility Initiatives
When a company decides to invest in corporate responsibility, it is essential for that company to track the impact of its efforts over time. Investing in any sustainable or socially minded initiative, just like any business investment, needs to have a return. However, the return, in this case, must be a measurable, positive change that reflects the company’s values. While it can require time and investment to develop the tracking tools necessary to chart the success of a new corporate responsibility initiative, the results are well worth the effort and expense. They may even enable even more successful initiatives in the future.
One of the best areas of modern society to support a corporate giving initiative in 2021 and beyond is American education. While the ongoing health crisis has forced American students to attend classes remotely from home, many lack the individual instruction they need to thrive and succeed. However, the long haul out of the pandemic, both health and economically, is by education the youth and building the next great wave of the American workforce in 2021 and beyond.