Learn how companies are managing their corporate citizenship efforts
Corporate citizenship, corporate social responsibility (CSR), and corporate responsibility (CR). These are the most frequently used terms by companies to describe the environmental, social, and governance (ESG) dimensions of business, according to the most recent Profile of the Practice study. In order to find out more about how corporations organize to manage their ESG efforts, the Center for Corporate Citizenship conducted its Profile of the Practice survey of 231 companies in the fall of 2013. This survey covered structure, strategy, leadership engagement, professional development, measuring, reporting, and communicating with stakeholders regarding corporate citizenship efforts.
Some of the key findings from the study are included below, and there are noteworthy changes from the previous Profile of the Practice study that was conducted in 2010.
Higher levels of leadership
The percentage of executives leading corporate citizenship has increased 74% from 2010 to 2013. These leaders are most often based in corporate citizenship (CSR, CR, sustainability) and corporate communications departments.
Fifty-nine percent of the companies reported they have a formal corporate citizenship department. Of these companies, 55% have had a corporate citizenship department for more than five years.
More money in the budget
In 2013, almost 100% of companies reported having an annual operating budget dedicated to corporate citizenship, compared to 81% of companies in 2010. These budgets do not include philanthropic giving.
Corporate citizenship strategy
Almost two-thirds of companies reported having a formal corporate citizenship strategy. As part of their corporate citizenship strategy, companies are prioritizing one of their key internal stakeholder groups, employees.
Education is a key priority
Based on the amount of financial expenditures, companies in various industries are focused on addressing education through their corporate citizenship programs.
Leadership engagement and professional development
- More than 60% of chief executives are highly engaged with supporting events and initiatives.
- The percentage of companies offering formal internal programs tripled between 2010 and 2013, from 5% to 15%.
Communicating with stakeholders
- The most common methods of communicating about corporate citizenship were the corporate website and intranet.
Want to go deeper into how companies are managing their corporate citizenship efforts and learn directly from two corporate citizenship leaders regarding their experiences? Then join us on January 8 at 12:00 p.m. EST for a webinar featuring Jenny Levy, Director of Corporate Social Responsibility, Hypertherm, Inc., and Michelle Crozier Yates, Director Corporate Responsibility, Adobe and Executive Director of the Adobe Foundation, Adobe Systems Incorporated.
CSR at Hypertherm includes community service and engagement, corporate philanthropic giving through their HOPE Foundation, and environmental stewardship. In 2012, 86% of US-based Hypertherm associates volunteered time in the local community, serving over 14,500 hours. A group of twelve associates on the Philanthropy Team make all corporate grant award decisions for the HOPE Foundation. Hypertherm has developed a set of environmental sustainability strategic goals for the year 2020, including becoming a zero landfill waste organization, reducing their carbon impacts by 50%, and developing products that are 20% more energy efficient.
As Adobe’s Director of Corporate Responsibility (CR) and Executive Director of the Adobe Foundation, Michelle Crozier Yates is responsible for global CR program strategy, management, and reporting. She manages a team focused on employee involvement initiatives, sustainability strategies, global giving programs, and CR-related product innovations. This includes responsibility for Adobe Youth Voices, the Adobe Foundation’s global initiative to increase creativity in young people and help them to become the problem solvers, critical thinkers, and leaders of tomorrow.
To register for the webinar on January 8 at 12:00 p.m. EST click here.