Businesses’ Social Engagement Growing More Common, More Important
Companies are increasingly aligning business strategies with their social engagement. In its “Giving In Numbers” survey of 272 companies, the Committee Encouraging Corporate Philanthropy (CECP) found that businesses are allocating bigger budgets to community engagement teams, elevating roles and responsibilities for giving officers, and ensuring that both employees and customers are able to show their commitment to giving back through the brand.
“The leading companies in today’s global economy have infused societal needs in business strategy, binding the well-being of their communities to the health of their bottom lines,” says Daryl Brewster, CEO of CECP. “Giving in Numbers is an essential handbook for businesses seeking to be industry leaders of corporate societal engagement in the coming years.”
The survey, currently in its 11th year, found that companies that increased total giving by at least 10 percent between 2013 and 2015 saw increases in median giving as a percentage of revenue and pre-tax profit, as opposed to all other companies that instead saw decreases in both metrics. During the same time period, total giving grew slightly, with 47 percent of companies reporting an increase in median total giving by one percent.
CECP’s research found that corporate giving teams are expanding, with the number of full-time equivalent employees rising three percent from 2013 to 2015. Furthermore, their prominence within the company is rising, with 29 percent of teams reporting closer alignment with the CEO’s office. Employee volunteer participation rate with their company’s community efforts has also climbed, to 33 percent in 2015 from 28 percent in 2013.
Carmen Perez, director of data insights at CECP, adds, “Data from 2016’s Giving in Numbers all point to the growing importance of the corporate societal engagement office in leading companies around the world, which should come as no surprise when increasingly, business performance is tied to social responsibility.”
For more of the survey’s insights, click here.