2017-02-14 Corporate Social Responsibility for Impact
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This document provides an overview of corporate social responsibility for a learning community. It discusses defining CSR and common initiatives companies engage in. CSR can result in business benefits like differentiation, PR, and employee engagement. Companies design CSR based on their mission and intended impact. Measuring social impact is important, and logic models can help identify desired outcomes. The document also discusses trends like investing in human capital, collaboration, and new tools for reporting impact.
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2017-02-14 Corporate Social Responsibility for Impact
- 1. Confidential Corporate Social Responsibility for Impact February 14, 2017 Clifford Yee – Managing Director Carol Chin-Fatt – Engagement Leader
- 2. 2Confidential Prepared for: The information provided herein has been provided expressly for Raffa Learning Community attendees as a basis for discussion purposes only. This presentation was developed, compiled, prepared and arranged by Raffa, P.C. through the expenditure of substantial time, effort and money and constitutes valuable intellectual property of Raffa, P.C. All right, title, and interest in and to the presentation is vested in Raffa, P.C. and none of these presentation slides may be used or reproduced without Raffa, P.C.’s prior written consent.
- 3. 3Confidential What are we here to talk about today? • Who & Why – This workshop is for growing for-profits that have a desire to operate their businesses in a socially responsible manner • What You’ll Learn – Develop a clear understanding of corporate social responsibility (CSR) – Understand the importance of articulating your intended social impact – Discover methods for measuring and communicating the ROI of your CSR initiatives – Identify potential CSR opportunities for your business to maximize reputation, trust, efficiencies and employee motivation — while achieving impact
- 4. 4Confidential To serve as a catalyst for positive systemic change Mission Total Employees 275 Office Locations (DC & Rockville) 2 Accounting Consulting Technology Audit Human Resources Tax Search & Transition Investment Advisory Employee Benefits AffiliatedCompanies Professional Services $344,701 Cash Contribution $119,571 In-Kind Contribution $2,415,485 Pro Bono Contribution $2,879,757 2015 Total Contributions Community Giving 2015 Revenue $46M A quick snapshot of Raffa, P.C.
- 5. 5Confidential Corporate Social Responsibility (CSR) defined “Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” – World Business Council For Sustainable Development
- 6. 6Confidential Companies engage in a variety of social responsibility initiatives and tactics Nonprofit Partnerships Human Rights Philanthropy CSR Reporting Workplace Diversity Employee Treatment Environmental Management Cause Marketing Supply Chain Community Investment Employee Volunteerism Product Giveaways Corporate Governance Sponsorships
- 7. 7Confidential Which typically result in three key business benefits • Differentiation • PR & Marketing • Customer loyalty • Environment • Supply Chain • Cost Savings • Productivity • Talent Retention • Company Culture Brand Operations Employee Engagement
- 8. 8Confidential Companies design their CSR programs based on their lifecycle, mission, values and intended impact Be Philanthropic Maximize Profit Align with a Cause Create Shared Value Make a Collective Impact
- 9. 9Confidential Brand Operations Employee Engagement Social Impact Regardless of intended impact, all companies should measure the social impact of their programs
- 10. 10Confidential A logic model is useful tool to help companies identify their desired impact and what it will take to achieve it Inputs OutcomesOutputsActivities Impact Resources dedicated to or consumed by the project What the project does with its inputs to achieve its mission The volume of work accomplished by a project Benefits or changes for participants during and after the project Long term consequences of intervention A fundamental change in a system or society Planned Work Intended Results
- 11. 11Confidential Case Study: USAA’s Corporate Responsibility Aspiration Our Signature Cause National Focus Employee & member time, talent & treasure GOING ABOVE FOR THOSE WHO HAVE GONE BEYOND MILITARY FAMILY RESILIENCY FAMILIES IN NEED + EDUCATION + DISASTER RESPONSE Support for Military Caregivers, Families of the Fallen, & Wounded Financial Readiness for Service Members, Spouses & Children Fulfilling Careers for Veterans & Military Spouses ++ Promote emotional well-being, healing, support systems & financial empowerment Improve financial behaviors, habits, stability & security Provide transition assistance and increase career opportunities Additional Local Focus Direct Impact Targets Support safety, prevention and natural disaster relief efforts for communities we serve Promote financial literacy and help students gain STEM-related learning opportunities Address basic human needs due to homelessness and hunger Giving via USAA & The USAA Foundation Collaboration with military & community groups Products & services (aligned to cause) The USAA Educational Foundation Resources (Enablers)
- 12. 12Confidential Case Study: CSR framework for Zombie Coffee & Donuts CSR Mission Be a catalyst for positive change in our community CSR Pillars CSR Priorities Why? 1. Create job opportunities for students 2. Create access with financial support 3. Minimize our environmental footprint with green management 4. Support community entrepreneurship 5. Foster youth entrepreneurship Education Environment Entrepreneurship Educated communities create economic opportunities Healthy communities require a healthy environment Small businesses ensure local communities thrive
- 13. 13Confidential Disruptive trends are accelerating social impact and businesses are becoming forces for good Investing in the Human Capital of Your Business Emerging Frameworks for Collaboration New Tools for Measuring and Reporting Impact
- 14. 14Confidential Progressive companies are investing in the well-being of their employees Health & Fitness Mindfulness Fiscal Fitness Diversity & Inclusion Social Media Family Volunteerism
- 15. 15Confidential And deliberately building a workforce that is purpose- aligned To draw global attention to stories that connect us To share stories that matter, amuse, inform and inspire To democratize access to space for the benefit of life on earth To create freedoms for customers without access to power Believing community extends beyond the places where we have stores Example Purpose Statements Source: Imperative 2016
- 16. 16Confidential By harnessing the sense of purpose that drives their workforce, companies are fostering more social good Purpose is powerful Purpose-oriented workers are engaged and more likely: •to be leaders (58%) •to stay at their companies (20%) •To promote the brand (57%) • to find meaning in their work (64%) Purpose Finding work that matters to each person, and connecting them to opportunities where they can drive meaningful impact Employee Orientation Purpose | Achievement | Money Source: Imperative 2016
- 17. 17Confidential Purpose-driven companies are working towards solving meaningful world problems with their employees Every generation has Purpose-Oriented workers “Purpose taps a universal need. It serves as a motivator despite cultural differences – uniting everyone to contribute to something bigger.” Source: Imperative 2016
- 18. 18Confidential •Walks, Runs •Care/Impact Days, Weeks, Months • Drives & Kit Assembly • Micro-Volunteerism • Board Service • Pro-bono Service • Mentoring • Loaned Execs • Fellowships •Matching Gifts • Dollars for Doers • United Way/CFC • Employee Funds •Online Giving Campaigns Involvement Projects Employee Giving Skills-based Volunteerism Companies are finding new ways to engage employees via smaller giving programs and skills based volunteerism
- 19. 19Confidential Engaged employees can bring authentic humanity to their employer’s brand 1. Pick your channel (s) 3. Let employees help tell your story 2. Create or engage in something bigger #faceversary #AdobeLife #IamCapitalOne #TeamAmtrack#MacysLove #LivingtheMcDream #TalkinKoons
- 20. 20Confidential New models of partnership are providing companies easier ways to collaborate for more meaningful impact Collective Impact Public-Private Partnerships Place-Based Initiatives
- 21. 21Confidential No matter the type of model, sustainable multi-stakeholder collaborations have several common conditions of success Shared Measurement Continuous Communication Backbone or Anchor Support Common Agenda Mutually reinforcing Activities
- 22. 22Confidential Corporations are increasingly leveraging Public-Private Partnerships (P3s) to address community issues Traditional P3 Focus Areas Emerging P3 Focus Areas
- 23. 23Confidential Place-Based Initiatives allow businesses to address social issues in their local communities more holistically Place Based Initiatives Access to Quality Education Jobs & Economic Vitality Affordable HousingSafety Access to Quality Healthcare
- 24. 24Confidential The Collective Impact model brings together cross sector community partners to solve a specific problem at scale
- 25. 25Confidential Case Study: Harlem Children Zone and Strive Partnership are examples of replicable collective impact success
- 26. 26Confidential As your company advances in its CSR journey, measuring your social impact becomes more important Access to Finance Helps Tell Your Story Helps Achieve Your Purpose Indicates Well-Run Operations Impact Reporting is an Expectation Measure Outcomes vs. Inputs & Activities
- 27. 27Confidential UN SDGS can help companies align the reporting of the impact of their CSR efforts
- 28. 28Confidential Companies are using a variety of frameworks and certifications to demonstrate their impact GRI Standards >> Overview Video Certified B Corporation Global Impact Investing Rating System Impact Reporting & Investment Standards (IRIS) Sustainability Accounting Standards Board (SASB) Global Reporting Initiative GRI Standards International Standards Organization ISO 26000 Social Accountability International SA80000 UL Environment ULE880
- 29. 29Confidential Award and recognition programs are useful for measuring and communicating a company’s impact
- 30. 30Confidential The rise of B Corps is fostering a movement where businesses are a force for good 90% of Americans say that companies must not only say a product or service is beneficial, but they need to prove it.” - Cone Communications “73% of consumers care about the company, not just the product when making a purchasing decision.” - BBMG
- 31. 31Confidential Snapshot of Certified B Corps 1897+ CERTIFIED B CORPS 40+ COUNTRIES 140+ INDUSTRIES 1 UNIFYING GOAL Business As A Force For Good
- 32. 32Confidential The B Corp assessment is organized across five stakeholder impact areas Community Governance Workers Environment Customers
- 33. 33Confidential Other approaches and tools for accelerating impact will continue to emerge and drive disruption in CSR Social Impact Bonds Conscious Capitalism Social Return on Investment Impact Investing and Patient Capital Program Related investing Integrated Reporting Venture Philanthropy Social Entrepreneurship
- 34. 34Confidential Our Final Thoughts • Impact Matters! No matter how you decide to structure your CSR strategy and programs, sustainable social impact should be a goal • Invest in Human Capital! Take care of your employees, and they will take care of your brand. • Achieve Greater Impact! Cultivate your network of community partners across all sectors for mutual benefit. • Measure What Matters! People want to buy into a company, tell them why they should buy into yours.
- 35. 35Confidential Thank You! Cliff Yee cyee@raffa.com @clifford_yee Carol Chin-Fatt cchin-fatt@raffa.com @chinfattc “It is not enough for business to do well; it must also do good. But in order to do good, a business must first do well.” – Peter F. Drucker