Creating an Authentic Customer Connection: Data-Driven Strategic Storytelling
2016-10-20 Creating Authentic CSR
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Transcript of 2016-10-20 Creating Authentic CSR
Thrive. Grow. Achieve.
Creating Authentic Corporate Social Responsibility Initiatives
Clifford Yee – Managing Director
October 20, 2016
Carol Chin-Fatt – Engagement Leader
Confidential
Creating Authentic Corporate Social Responsibility Initiatives
October 20, 2016 Clifford Yee – Managing Director Carol Chin-Fatt – Engagement Leader
2 Confidential
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 Confidential
What are we here to talk about today?
• Who & Why
– This workshop is for young for-profit start ups that want to run their businesses in a socially responsible way
• What You’ll (hopefully!) Learn
– Develop a clear understanding of corporate social responsibility (CSR)
– Explore key CSR drivers and emerging trends – Learn about the business case for CSR and how it benefits a
company of any size – Identify potential CSR opportunities for your business to
maximize reputation, trust, efficiencies and employee motivation — while reducing risks
4 Confidential
To serve as a catalyst for positive systemic
change
A quick snapshot of Raffa, P.C.
Mission
Total
Employees
275
Office Locations
(DC & Rockville)
2
Accounting Consulting Technology
Audit Human Resources
Tax Search & Transition Investment Advisory Employee Benefits Af
filia
ted
Com
pani
es
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
5 Confidential
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 Confidential
Typical elements of CSR
7 Confidential
The evolution of modern era CSR
1950s 1980s 1960s 2000s
Start “modern era” of CSR
Volunteerism
Government imposed regulations on corporations
across a variety of industries e.g., SA8000, GRI
Ben & Jerry’s publishes the first social report
2010s 1990s
WTO Kyoto Protocol Global Compact
1970s
CSR’s popularity in academia increases
World Summit on Sustainable Development
Howard Bowen wrote The Social Responsibility of Businessmen
Social Movements Civil, Women’s
Consumers’ Rights
OECD EPA
Earth Day
Green Peace
Hole in ozone
Earth Summit
Fair Trade
World Conference on Human Rights
Triple Bottom Line
CSR becomes a strategic
imperative
UNSDG
Impact Investing
Focus shifting towards collective
impact
8 Confidential
Today companies choose different paths with their CSR programs based on their lifecycle, mission and values
Be Philanthropic
Maximize Profit
Align with a Cause
Create Shared Value
Make a Collective Impact
9 Confidential
Regardless of the path chosen, companies who actively engage in CSR realize key stakeholder benefits
• Differentiation
• PR & Marketing
• Customer loyalty
• Environment
• Supply Chain
• Cost Savings
• Productivity
• Talent Retention
• Company Culture
Brand Operations Employee Engagement
10 Confidential
While consumers have long been pressuring companies to be socially responsible, Millennials now demand it
SOURCE: Cone Communications, Millennial CSR Study, 2015
…Millennials would switch brands to one associated with a cause (vs. 85% U.S. average) …Use social media to engage around CSR (vs. 53% U.S. average) …Are willing to take a pay cut to work for a responsible company (vs. 56% U.S. average)
91%
66%
62%
11 Confidential
The Power of Authenticity: Greater ROI
The most effective CSR strategies are aligned with the values and mission of the company (aka authentic)!
Start Early Be Open Integrate
12 Confidential
Tips for how to build an authentically responsible company from the start (or starting today)
Focus Volunteer Your Skills
Involve Your Team
Be eco-friendly Hire Diverse &
Inclusive Workforce
Telecommute
Work with Responsible
Partners
Consider Becoming a B
Corp
Tap Into Existing Events
SOURCE: Forbes, Susan McPherson, 2016
13 Confidential
Emerging Trend: Human Capital (CSR – HR = PR)
As CSR has evolved, initiatives to infuse more “humanity” are shaping companies in new ways
Health & Fitness
Mindfulness
Fiscal Fitness
Diversity &
Inclusion
Social Media
Causes
Volunteerism
14 Confidential
Emerging Trend: Leverage volunteerism to tell your story in all channels
15 Confidential
Emerging Trend: Share your CSR story
Consumers prefer to see information from a company CSR report in the form of:
SOURCE: Cone Communications, 2015
16 Confidential
Emerging Trend: The Rise of B Corps
Certified B Corp Quick Impact Assessment >> www.bimpactassessment.net
17 Confidential
Emerging Trend: Certified B Corps
1897 CERTIFIED B CORPS
40+ COUNTRIES
140+ INDUSTRIES
1 UNIFYING GOAL
Business As A Force
For Good
18 Confidential
Emerging Trend: Certified B Corps – Pending Status for Start Ups
• The B Impact Assessment measures the practices and policies of a company over the past year, as opposed to what it intends to do in the future.
– Companies that have been in business for less than a year, and are on the path to full certification, can receive “pending” status good for 12 months
• Benefits of Pending Status – Communicate your social impact intentions to your stakeholders – Access the Certified B Corp community prior to full certification – Leverage the assessment as a guide while building your business model
• Cost of Pending Status
– $500 regardless of revenue
19 Confidential
Emerging Trend: Certified B Corps vs Benefit Corporations
• A certification conferred by the nonprofit B Lab
• Meets a high level of social + environmental performance + makes a legal commitment to consider all stakeholders
• Any for-profit company in any country
• Has protection to consider its impact on all stakeholders, not just shareholders
• Available in 31 states, Puerto Rico, and Italy
Certified B Corporation
Benefit Corporation • A corporate form that has a
higher level of transparency, accountability and purpose
20 Confidential
Emerging Trend: Benefit Corporations by State in the DC Region
Recognize Benefit Corporations
Recognize Benefit LLCs
21 Confidential
Who do you agree with more about the future of CSR?
22 Confidential
Thank You!
Cliff Yee
[email protected] @clifford_yee
Carol Chin-Fatt
[email protected] @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