For over 50 years, corporate social responsibility (CSR) has been used by businesses to address their ethical and philanthropic responsibilities in society. Traditionally, companies demonstrated their CSR commitments by offering their employees volunteer time, and by deploying some financial resources to worthy causes through sponsorships and charitable donations.
Increasingly, a new generation of professionals is also asking more of their employers. They are looking for workplaces and leadership that demonstrate their values and act upon them. They expect more than charitable donations and employee volunteerism from their employers. They want to work in places that engage more effectively with customers, employees, investors and other key stakeholders around their larger social purpose.
Companies are being asked to better integrate their business goals with their public purpose. Recognizing that government can no longer solve societal issues alone, the public is also increasingly looking to the private sector for support.