What is Giving Compass?
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Giving Compass' Take:
• The authors writing for TriplePundit, express how the onus of companies to achieve greater social impact in the past year comes from following five inspirational trends.
• Which trend will help companies make the most significant impact?
For purpose-driven companies, these are interesting times. We have always believed that our mission at Salesforce is to improve the state of the world. In fact, studies show that purpose is a number one driver behind business success. Brand perception, consumer loyalty, employee retention and stakeholder optimism are all tied to how a company acts on its purpose.
This onus on companies to evolve from a contributor of social impact to a leader in social impact is a critical theme in the five trends that most inspire us.
Trend #1: Transparency is so in
Openness is not just a must-have, it is expected by every stakeholder. Every aspect of transparency from being your true self at work, to openly reporting progress against your impact goals are all expected of the new corporate citizen.
Trend #2: Making time to do good: an everyday expectation
The workforce in 2020 will be redefining what workplace volunteerism looks like. Companies like Salesforce and Johnson & Johnson are already committed to seven paid volunteer days off per year for each employee.
Trend #3: Leaders who inspire = brands that inspire
CEOs have taken a stand on polarizing issues more in the last five years than at any other time in history. Purpose is about defining a company’s position on issues like climate change, immigration, LGBTQ rights, workforce diversity and gender parity.
Trend #4: Purpose is profit
Purpose often seems counterintuitive to profit but in reality, it’s the key. Strong brands that choose the path of collective good find they outperform in shareholder value.
Trend #5: Impact beyond grant-making
Businesses thrive on ROI, but measuring social good impact is still largely uncharted territory.
Read the full article about 5 social impact trends by Ebony Felix and Nasi Jazayeri at TriplePundit.