Most companies, particularly big ones, have gotten the memo by now: They’re taking steps—some big, others small—to leverage their assets to support important social and environmental issues that they, their employees, and other stakeholders care about.Unfortunately, though, many companies are still falling short on connecting with their stakeholders in meaningful ways around their corporate social responsibility (CSR) and societally-focused investments: They’re burying important stuff they’re doing in dense CSR reports that few people ever read, hesitating to boldly project their voice and values, and failing to invest in communicating their commitments and accomplishments. Companies need to get focused on this, and fast: By failing to connect, they’re missing out on a major opportunity to unlock emotion, build awareness, foster trust and affinity, and create deep engagement.
It’s no longer news that consumer expectations of companies to do good are at all-time highs. Or that, more and more, employees—especially those entering the workforce—simply won’t work for companies that fail to meaningfully integrate values, purpose, and social/environmental impact into what they do. As Project ROI, 2015 research conducted by IO Sustainability and Babson College’s Lewis Institute showed, meaningful corporate responsibility investments can protect and grow brand and reputation—potentially by up to 11 percent of a company's total value. This, provided that companies leverage their CSR investments to connect in deep and meaningful ways with key stakeholders (check out the research to see other key success drivers).
So if connecting is so critical, why don’t companies do it? As a CSR consultant and social/environmental impact strategist working with US and global brands, I have to say the reasons that organizations offer up can be pretty weak! I keep a running list of my favorites:
The real-time reaction of the roomful of young, diverse, global MBAs was a glimpse of the future of business. As they rigorously challenged companies to do more to project their commitments and impact, and then shared their own creative, disruptive insights and solutions, one thing became clear: For this rising generation of consumers and business leaders, connecting with stakeholders in meaningful ways on important social and environmental issues is not optional. No more excuses. Period.
It’s no longer news that consumer expectations of companies to do good are at all-time highs. Or that, more and more, employees—especially those entering the workforce—simply won’t work for companies that fail to meaningfully integrate values, purpose, and social/environmental impact into what they do. As Project ROI, 2015 research conducted by IO Sustainability and Babson College’s Lewis Institute showed, meaningful corporate responsibility investments can protect and grow brand and reputation—potentially by up to 11 percent of a company's total value. This, provided that companies leverage their CSR investments to connect in deep and meaningful ways with key stakeholders (check out the research to see other key success drivers).
So if connecting is so critical, why don’t companies do it? As a CSR consultant and social/environmental impact strategist working with US and global brands, I have to say the reasons that organizations offer up can be pretty weak! I keep a running list of my favorites:
- We don’t want to brag—that’s not why we do what we do...
- We let our work speak for itself...
- We’re a Midwestern company; we don’t like to talk about what we do…
- We do too many things; it’s hard to pick just one thing to talk about…
- We’re not Patagonia…
- If we talk about it, and something goes wrong, if it is not perfect, people will criticize us…
- We’re an engineering-driven culture; communicating isn’t natural to us…
- Etc.
The real-time reaction of the roomful of young, diverse, global MBAs was a glimpse of the future of business. As they rigorously challenged companies to do more to project their commitments and impact, and then shared their own creative, disruptive insights and solutions, one thing became clear: For this rising generation of consumers and business leaders, connecting with stakeholders in meaningful ways on important social and environmental issues is not optional. No more excuses. Period.