CSR and its Impact in the New Year

Top 5 Social Impact Trends of 2017

Top 5 Social Impact Trends of 2017

For the past ten years, corporate social responsibility (CSR) has transitioned from an agreeable addition to a fundamental strategic priority for small and large businesses alike. As we look ahead to 2017, here are five social impact and CSR trends to take advantage of in 2017:

1. CSR will become more commonplace than ever. 

CSR will become a standard practice for increasing numbers of companies in 2017. While the increase in CSR programs is a positive trend, it's important for companies to strive towards differentiated and effective CSR programs. Not all company efforts are created equal. 

2. Employees will demand purposeful work.

For companies that put mission first, talented and driven employees will be drawn in and want to stay. With employees engaged through purposeful work, employers save 10% on payroll, have 28% less staff turnover, and spend 46% less per hire.

3. Technology will continue to be vital. 

As it has done in the recent years, technology will accelerate impact. Those companies who can effectively harness technology will be able to advance their mission and tackle complex problems. 

4. Measurement and evaluation will become more important.

A company's work cannot be quantified without quality measurement and evaluation methods. While many organizations boast their CSR programs, those with solid data to back up their claims will reap the benefits of successful CSR with internal stakeholders and the greater community.

5. The 'language' of impact will change. 

As corporate social responsibility and the social impact sector develop and mature, the language of the industry will evolve. This evolution opens the door for more complex and meaningful conversation, but it also opens the door for possible confusion. 

With these five trends in mind, 2017 is primed for the expansion of CSR and meaningful work in companies of all sizes. By planning CSR efforts strategically, companies can take advantage of the opportunity to create and shape the future of businesses doing well by doing good.

Article courtesy of bmeaningful

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