Undoubtedly, 2019 proved to be an active year for Corporate Social Responsibility (CSR), covering many issues like sustainability, globalization, advocacy for social issues, and multiple natural disasters at the forefront. Some of these issues have continued to exist in 2020 and companies are striving to build remarkable Corporate Social Responsibility strategies that align core business objectives with solving relevant social problems as well. In this article, we will discuss the popular CSR trends that companies are following this year.
Today’s workplaces have become more involved with issues like combatting sexual harassment, promising pay equity, promoting sustainability, etc. Leaders of organizations are seen more in training classes, peer-to-peer dialogues, and formal classroom settings, perhaps virtual, so that they can keep abreast of changes and effective practices in governance and accountability.
In 2020, there have been more formal classes in corporate social responsibility and sustainability, like various executive education courses at Harvard Business School and the Wharton School of Business. Also, there are more facilities for emerging professionals now, which include the Institute for Corporate Social Responsibility at John Hopkins University, co-sponsored by the Washington Regional Association of Grantmakers and the U.S. Chamber of Commerce Education.
Today’s organizations continuously strive to ingrain the significance of corporate social responsibility in their people through education, re-education, and training. This is important to address issues like stagnation, inequality, and lack of social responsibility. Companies are conducting education programs to ensure every team member is aware of the company code of ethics and how it is related to different social causes that the organization supports.
Coaching team members on corporate social responsibility, emotional intelligence, proper communication, etc. has become an essential part of the corporate culture. One positive result of adopting these things into your corporate culture is team members feeling socially connected when they are at the workplace. The best way to start this is by getting leaders and management on board, introducing them to the training first, and then instilling these changes from top to bottom.
There are a growing number of natural disasters impacting all parts of the world now. So, organizations are rethinking their approach towards disaster relief and the efforts they put forward for the recovery. Many companies are seen assisting victims of natural disasters through cash grants and product donations. It is expected that more and more organizations will embrace this proactive approach. This will encourage the process of helping communities become a resilient cause for years to come.
Even though we can’t prevent all natural disasters from occurring, the detrimental impact they have on people’s lives can be minimized especially if the corporate sector comes forward and gets involved in better urban and rural planning.
When it comes to corporate social responsibility, volunteering time is one of the most beneficial things that can be given. There are several ways to go about it. The most common approach organizations are taking is asking their team members to volunteer a portion of their time each week to a noble cause or charity. Another option that organizations are widely embracing is letting a part of their team members’ work hours serve as volunteer hours. This is a rewarding benefit for team members because it allows them the opportunity to give back without having the burden of their paycheck being docked or being forced to use vacation time to volunteer. It is also positive branding for both the team members and for the community.
Diversity and equality are two significant factors in any organization and hiring with the intention to achieve diversity has several benefits. Companies are striving to hire people from different walks of life, which thus, increases creativity, cultural exposure, and likely out-of-the-box ideas for corporate social responsibility in the office. Diversity has been a critical element of corporate social responsibility for more than 15 years, and it holds true today.
All of these 2020 corporate social responsibility trends require organizations to strategically think through their core business values and which types of corporate social responsibility trends can be naturally integrated with those values.
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