Giving Compass' Take:

• Susan B. Noyes, writing for Better, discusses examples of companies that are successfully implementing corporate social responsibility. 

• How are consumers swayed by corporate social responsibility? What can employers do to capitalize on these trends? 

• Here are five elements of a model of corporate social responsibility.

Corporate Social Responsibility (CSR) is no longer just a progressive perspective on how to run a business. When the USA Business Roundtable issued its August 19, 2019, statement redefining the purpose of corporations away from maximizing shareholder value to “promoting an economy that serves all stakeholders — customers, employees, suppliers, communities and shareholders,” CSR became a central and powerful American business tenet. The 181 CEOs of America’s largest corporations who signed the statement, finally caught on to what early thought leaders in the field had already discovered — doing good for the people, products and places that their corporations touch is good for the community and the business.

Yes, businesses can do good and do well. In fact, it’s increasingly clear that they need to do good in order to do well.

Particularly compelling are the traits frequently embodied by millennials and Gen Xers. These generations intuitively understand how interconnected our world is, so, they spend their time, talents and treasure accordingly. Brands that prove they can help make the world better earn their support.

The following list includes percentage ratings that denote each company’s CSR/ESG rating by CSRHub when compared with 18,958 companies, as well as other notable rankings and recognition by other trusted media. These ratings came from the below sources:

  • AbbVie
    Ranking: 93%; Consistently rated Top 10 by Working Mothers Magazine
  • Baxter International
    Ranking: 93%; Rated by Just 2020
  • Ben & Jerrys
    Ranking: 92%; Rated by Classy

Read the full article about companies that are doing CSR by Susan B. Noyes at Better.