2016-10-20 creating authentic csr

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Thrive. Grow. Achieve. Creating Authentic Corporate Social Responsibility Initiatives Clifford Yee – Managing Director October 20, 2016 Carol Chin-Fatt – Engagement Leader

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Page 1: 2016-10-20 Creating Authentic CSR

Thrive. Grow. Achieve.

Creating Authentic Corporate Social Responsibility Initiatives

Clifford Yee – Managing Director

October 20, 2016

Carol Chin-Fatt – Engagement Leader

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Confidential

Creating Authentic Corporate Social Responsibility Initiatives

October 20, 2016 Clifford Yee – Managing Director Carol Chin-Fatt – Engagement Leader

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Prepared for:

The information provided herein has been provided expressly for Raffa Learning Community attendees as a basis for discussion purposes only.

This presentation was developed, compiled, prepared and arranged by Raffa, P.C.

through the expenditure of substantial time, effort and money and constitutes valuable intellectual property of Raffa, P.C.

All right, title, and interest in and to the presentation is vested in Raffa, P.C. and

none of these presentation slides may be used or reproduced without Raffa, P.C.’s prior written consent.

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What are we here to talk about today?

• Who & Why

– This workshop is for young for-profit start ups that want to run their businesses in a socially responsible way

• What You’ll (hopefully!) Learn

– Develop a clear understanding of corporate social responsibility (CSR)

– Explore key CSR drivers and emerging trends – Learn about the business case for CSR and how it benefits a

company of any size – Identify potential CSR opportunities for your business to

maximize reputation, trust, efficiencies and employee motivation — while reducing risks

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To serve as a catalyst for positive systemic

change

A quick snapshot of Raffa, P.C.

Mission

Total

Employees

275

Office Locations

(DC & Rockville)

2

Accounting Consulting Technology

Audit Human Resources

Tax Search & Transition Investment Advisory Employee Benefits Af

filia

ted

Com

pani

es

Professional Services $344,701

Cash Contribution $119,571

In-Kind Contribution $2,415,485

Pro Bono Contribution $2,879,757

2015 Total Contributions

Community Giving

2015

Revenue

$46M

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Corporate Social Responsibility (CSR) defined

“Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large”

– World Business Council For Sustainable Development

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Typical elements of CSR

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The evolution of modern era CSR

1950s 1980s 1960s 2000s

Start “modern era” of CSR

Volunteerism

Government imposed regulations on corporations

across a variety of industries e.g., SA8000, GRI

Ben & Jerry’s publishes the first social report

2010s 1990s

WTO Kyoto Protocol Global Compact

1970s

CSR’s popularity in academia increases

World Summit on Sustainable Development

Howard Bowen wrote The Social Responsibility of Businessmen

Social Movements Civil, Women’s

Consumers’ Rights

OECD EPA

Earth Day

Green Peace

Hole in ozone

Earth Summit

Fair Trade

World Conference on Human Rights

Triple Bottom Line

CSR becomes a strategic

imperative

UNSDG

Impact Investing

Focus shifting towards collective

impact

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Today companies choose different paths with their CSR programs based on their lifecycle, mission and values

Be Philanthropic

Maximize Profit

Align with a Cause

Create Shared Value

Make a Collective Impact

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Regardless of the path chosen, companies who actively engage in CSR realize key stakeholder benefits

• Differentiation

• PR & Marketing

• Customer loyalty

• Environment

• Supply Chain

• Cost Savings

• Productivity

• Talent Retention

• Company Culture

Brand Operations Employee Engagement

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While consumers have long been pressuring companies to be socially responsible, Millennials now demand it

SOURCE: Cone Communications, Millennial CSR Study, 2015

…Millennials would switch brands to one associated with a cause (vs. 85% U.S. average) …Use social media to engage around CSR (vs. 53% U.S. average) …Are willing to take a pay cut to work for a responsible company (vs. 56% U.S. average)

91%

66%

62%

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The Power of Authenticity: Greater ROI

The most effective CSR strategies are aligned with the values and mission of the company (aka authentic)!

Start Early Be Open Integrate

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Tips for how to build an authentically responsible company from the start (or starting today)

Focus Volunteer Your Skills

Involve Your Team

Be eco-friendly Hire Diverse &

Inclusive Workforce

Telecommute

Work with Responsible

Partners

Consider Becoming a B

Corp

Tap Into Existing Events

SOURCE: Forbes, Susan McPherson, 2016

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Emerging Trend: Human Capital (CSR – HR = PR)

As CSR has evolved, initiatives to infuse more “humanity” are shaping companies in new ways

Health & Fitness

Mindfulness

Fiscal Fitness

Diversity &

Inclusion

Social Media

Causes

Volunteerism

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Emerging Trend: Leverage volunteerism to tell your story in all channels

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Emerging Trend: Share your CSR story

Consumers prefer to see information from a company CSR report in the form of:

SOURCE: Cone Communications, 2015

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Emerging Trend: Certified B Corps

1897 CERTIFIED B CORPS

40+ COUNTRIES

140+ INDUSTRIES

1 UNIFYING GOAL

Business As A Force

For Good

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Emerging Trend: Certified B Corps – Pending Status for Start Ups

• The B Impact Assessment measures the practices and policies of a company over the past year, as opposed to what it intends to do in the future.

– Companies that have been in business for less than a year, and are on the path to full certification, can receive “pending” status good for 12 months

• Benefits of Pending Status – Communicate your social impact intentions to your stakeholders – Access the Certified B Corp community prior to full certification – Leverage the assessment as a guide while building your business model

• Cost of Pending Status

– $500 regardless of revenue

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Emerging Trend: Certified B Corps vs Benefit Corporations

• A certification conferred by the nonprofit B Lab

• Meets a high level of social + environmental performance + makes a legal commitment to consider all stakeholders

• Any for-profit company in any country

• Has protection to consider its impact on all stakeholders, not just shareholders

• Available in 31 states, Puerto Rico, and Italy

Certified B Corporation

Benefit Corporation • A corporate form that has a

higher level of transparency, accountability and purpose

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Who do you agree with more about the future of CSR?