Giving Compass' Take:
- Rachel Moret, Senior Specialist, HR Programs, and Brenton Miller, Manager, HR Programs and Culture at Quotient, discuss what a successful corporate social responsibility program looks like that can engage its employees.
- What are the most significant barriers to corporate philanthropy programs? How do they take into account equity initiatives?
- Read more about the trends of CSR practices.
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Corporate social responsibility (CSR) has, rightfully so, become a priority for companies. An estimated 90% of companies on the S&P 500 index published a CSR report in 2019, compared to just 20% in 2011.i Moreover, major events in 2020, such as COVID-19 and social justice movements, led to many companies bringing philanthropic initiatives to the forefront. According to a survey by The Conference Board:ii
- Nearly 61% of companies spent more on philanthropy in 2020 than budgeted.
- 58% of respondents used incremental funds for COVID-19 efforts.
- 54% used incremental funds to help address racism in the U.S.
Some organizations have been ahead of the game when it comes to doing good. For Quotient, giving back has been a part of the company’s DNA since the beginning. In the words of Steven Boal, CEO and Founder, “Ever since our earliest years as Coupons.com, helping people has always been a core mission and value of our company.”
Curious to learn more about the Quotient values of giving back and the new Quotient for Change program, I recently had the opportunity to speak with Rachel Moret, Senior Specialist, HR Programs and Brenton Miller, Manager, HR Programs and Culture. Here are a few highlights from that discussion:
Why do you think it's important for companies to have a corporate philanthropy program?
Rachel: I believe that businesses have a responsibility to support and grow the communities they operate in. Corporate philanthropy programs present a unique opportunity for companies to be agents for change in their communities by leveraging corporate strengths, services and platforms to give back. We’ve seen the desire in our own employees for a stronger philanthropic program. Our teams have always wanted to give back and volunteer, but they didn’t always know where to start.
Having this program offers them both frequent and varied opportunities to give back, while cementing the concept that philanthropy is a key element of Quotient culture.
Read the full article about corporate employee engagement by Julie Yamamoto at Bright Funds.