This weeks’ article of the Deloitte Human Capital Trends series will focus on the sixth trend: “Citizenship and social impact”.
The social enterprise must evaluate its actions based on its impact on society, not just the bottom line. As stakeholder expectations rise, an inauthentic or uneven commitment to citizenship can quickly damage a company’s reputation, undermine its sales, and limit its ability to attract talent. For organizations, a new question is becoming vital: When we look in the mirror held up by society, do we like what we see?
Corporate citizenship is no longer simply a corporate social responsibility program, a marketing initiative, or a program led by the CHRO. It is now a CEO-level business strategy —defining the organization’s very identity. Issues such as diversity and inclusion, gender pay equity, income inequality, immigration, and global warming are being openly discussed by individuals, families, and political leaders around the world. And our research shows that many stakeholders are frustrated with political solutions to these problems and now expect businesses to help address these critical problems.
In this year’s Deloitte Global Human Capital Trends survey, 77 percent of our respondents cited citizenship as important and 36 percent rated it as very important. The term “citizenship” can refer to everything an organization does that impacts society. We define it as a company’s ability to do social good and account for its actions—both externally, among customers, communities, and society, and internally, among employees and corporate stakeholders. This mirror—held up to businesses by society—reflects an organization’s identity for all to see, and burnishing that reflection is now vital for success.
Look for our next article “Well-being, - A strategy and a responsibility”, a trend to understand how organizations are putting into place innovative programs around well-being to both increase worker productivity and meet new social expectations.
Should you wish to have more information on citizenship and social impact, do not hesitate to contact Karine Pontet, Director Operations Excellence and Human Capital Advisory (firstname.lastname@example.org).
Press release by Deloitte Luxembourg
Publié le 04 juin 2018