Do Well by Doing Good - A Business Imperative

In 2019, the Business Roundtable updated their statement on corporate purpose and an “economy that serves all Americans” by saying: 

“Companies should serve not only their shareholders, but also deliver value to their customers, invest in employees, deal fairly with suppliers and support the communities in which they operate.”  

Companies must now implement strategies, some call them Corporate Social Responsibility (CSR) or Sustainability strategies, across the entirety of business operations. Creating social impact must permeate every aspect of the company, from marketing and branding to supply chain to even voluntary, employee-led groups such as Employee Resource Groups, Business Resource Groups, and other affinity and engagement groups.   

Additionally, today’s employees want the opportunity to live their own values through the broader mission of the company as well as by championing important social causes.  

Employees are taking an active role in helping their company make a social impact, from leveraging diversity as a business priority and expanding market share to incorporating social responsibility into branding and awareness campaigns, as well as improving employee morale, engagement, and recruitment and retention with fundraisers, events and other activities.  

Defining the roadmap for your CSR strategy can deliver potential returns on investment and improve the impact and value of corporate responsibility and sustainability performance – here are three areas of focus to consider: 

Find Purpose 

Employees now often look for connectivity and purpose from their employer. Companies can provide this through company giving opportunities, engagement activities and in-person or virtual volunteering. 

Integrate and Engage Stakeholder

Integrate all CSR activities to demonstrate how you’re creating value for all your stakeholders. Employees, suppliers, nonprofit partners, elected officials and other community leaders all can provide valuable insights to help you align your efforts, rally support for your causes, improve your overall social impact, and enhance your company’s reputation.

Create Your Story with Your Stakeholders

It’s important to tell your positive social impact story and engage your stakeholders to expand your reach. Companies can encourage employee goodwill and participation by providing programs that allow employees to support and connect with the charities and causes they care most about. For customers, companies can consider programs that raise awareness, encourage giving and invite customers to participate and amplify efforts around shared causes.