Sks CSR Report 2022
Sks CSR Report 2022
Sks CSR Report 2022
SOCIAL
RESPONSIBILITY
AT WORK
CSR REPORT 2022
While it’s certainly not a new concept, today’s CSR looks quite different from that of
the past. In a world grappling with issues such as social justice, economic disparity,
and devastating climate change, modern CSR initiatives balance profit with purpose,
ultimately creating shared value for all stakeholders as well as for the environment.
We recently surveyed more than 1,000 people across various industries, geographies,
and job roles, to learn how they believe the organizations they work for are making
an impact with their CSR efforts, large and small. While CSR initiatives differ from
organization to organization, one important trend we observed points to a new way of
doing business.
“Doing the right thing” was cited as the top influencer of CSR priorities by 40%
of respondents.
In fact, recent studies demonstrate that more and more workers are taking
their company’s ethics and values into consideration. Just over three
quarters (76%) would consider looking for a new job if they discovered their
company had an unfair gender pay gap or no diversity and inclusion policy.
And, it’s clear from the survey results that organizations that plan to
incorporate CSR in their annual corporate initiatives see undeniable benefits
— with 57% of respondents with a formal CSR program reporting 25% or
more organizational growth year-over-year.
HOW HAVE YOUR ORGANIZATION’S CSR WHAT PERCENTAGE GROWTH HAS YOUR COMPANY
COMMITMENTS CHANGED SINCE BEFORE EXPERIENCED YEAR-OVER-YEAR (YOY)?
35+28+1210861R
THE PANDEMIC? (CHOOSE ALL THAT APPLY)
1%
7268+ 57+ 40+
6%
8%
CSR has become more important 72%
36% More than 100% growth
Investment from leadership has increased 68% 10%
75% - 100% growth
Employee investment has increased 57% 50% - 74% growth
Additionally, we found:
• Private companies are more likely to have a dedicated CSR budget (77%) than public
companies (70%)
• Companies in the industrial sectors report having more defined CSR programs (16%), while the
agriculture, forestry, and mining sector reports being in the initial stages of their programs
• The majority of companies surveyed (75%) consider CSR efforts to be a part of their corporate
governance program
Interestingly, despite the growth of CSR, only 54% of survey respondents say that their organization has PRIVATE COMPANIES WITH A
an actual CSR plan for the coming year. This could be tied to confusion about who “owns” CSR in their DEDICATED CSR BUDGET
organizations, changing labor and environmental regulations, or the process of clarifying priorities.
8% 15% 77%
75+21+4R 54+29+17R
PART OF CORPORATE GOVERNANCE PLAN FOR NEXT YEAR
4%
6% 15% 70%
29%
2%
11%
26%
11%
25% 25%
UNKNOWN
Of those planning or maturing CSR initiatives, program priorities include diversity, equity, and inclusion (DEI)
(31%) and improving labor policies (26%). Very few organizations cite community and virtual volunteering (9%).
Similarly, only 9% of organizations prioritize disaster relief and preparedness, which indicates that organizations
have work to do when it comes to anticipating future public health and environmental crises.
WHAT ARE THE TOP CSR PRIORITIES AT YOUR ORGANIZATION? (CHOOSE TWO)
PRIORITY PERCENTAGE
In the United States, top survey priorities include DEI, improving labor practices,
participating in fair trade, and reducing carbon footprint. These priorities could be considered
responses to a nationwide call for social justice, growing economic disparity, and consumer
awareness of environmental issues threatening the future of our planet.
However, a significant percentage of survey respondents are aligned when it comes to the
factor that primarily influences their CSR priorities: 40% of those who responded say it is
a commitment to “doing the right thing.”
40+32+15121R
12% 1%
A commitment to “doing the right thing”
40%
15% Business directives
Current events
Personal passions
Other
32%
38+29+2562R
employees in CSR efforts. And, nearly 36%
of those surveyed feel their organization 6% 2%
Nothing
Understandably, in public corporations, there
is still some caution surrounding investment in Other
CSR initiatives that don’t equate to immediate
financial gains for shareholders.
29%
Given the range of CSR activities, there is not yet a global, cross-industry structure for
CSR reports. However, most organizations tend to showcase their CSR in similar ways,
including:
••
Statement of purpose that explains the organization’s CSR mission
Contextual narrative for the organization, its industry, and its constituents
••
Sustainability metrics that demonstrate improvement over time
Informative graphics that visualize relevant company data
Engaging stories of employee involvement and impact
CREATE ACCOUNTABILITY
Recently, there has been a cross-industry focus on the environment. Many
sustainability reports make commitments to reach specific goals in terms of
reporting the organization’s ability to affect ciimate change or reduce its carbon
footprint within a certain timeframe. Making these goals public encourages the
organization and its employees to actively work toward them.
Despite these benefits, only 70% of survey respondents say their organization publishes
an annual CSR report. And of those respondents, we learned that 57% work for private
organizations and only 43% work for public organizations.
Private organizations are more willing to “lift the curtain” and reveal passion projects
that reflect their overall mission and align with customer values. In contrast, short-term
market conditions legal obligations to shareholders can impede public corporations
from assigning resources to CSR efforts, despite good intentions.
70+19+11R
11%
19% 70%
Yes
Not Sure
No
It’s clear from these responses that leaders across all departments understand that it is critical for
organizations who want to stand at the vanguard of responsible businesses to communicate their
vision to the world. And in the new age of socially responsible investing, it’s simply smart business:
73% of investors believe that CSR efforts contribute positively to financial returns.
Investor relations
Finance
Marketing
Sustainability
86%
84%
83%
77%
76%
Philanthropy 76%
Compliance 72%
HR 65%
2724+191716+151211+107+65+4 +431+
to quantify short-term gains. Then how do Health and security 27%
organizations measure whether their CSR Social contribution 24%
efforts are successful?
Greenhouse gas emissions 19%
According to survey respondents, workplaces Cybersecurity, GDPR, and data privacy 17%
most commonly measure success by the Benchmarking your organization against others in your industry 17%
following:
Industry awards/recognition 16%
Interestingly, top barriers to implementing a successful CSR program include regulations and standards
(20%), customer awareness (19%), and reputation value (19%).
Diversity 16%
Knowledge 16%
Training 9%
Social audit 8%
Supporting staff 4%
Information 3%
Other 2%
Our survey addresses the crucial questions organizations are grappling with to meet the changing
expectations of stakeholders, including employees, customers, partners, communities, and
investors.
While the ways that organizations are addressing CSR and ESG vary, we can pinpoint some
key trends:
74+14+12R
12%
14% 74%
Yes Not Sure
No
CSR tends to be anecdotal, while ESG provides solid data and ROI 52%
Fifty-two percent of survey respondents say that CSR serves as only a footnote in their
annual report; ESG efforts get more airplay because they provide quantifiable examples of
how the organization is making an impact.
However, it’s challenging to establish an effective ESG program and the necessary
tracking mechanisms to measure progress.
Perhaps the biggest takeaway is that many organizations are rapidly moving to ESG.
In fact, 46% of survey respondents say their ESG efforts are replacing their CSR
efforts. Why?
Of course, CSR can still serve as an internal framework. And, there is great power
in the “personal.” But ESG provides solid data points and ROI for all stakeholders:
employees, customers, partners, communities, and investors. These tangible data
points can reduce the temptation to “greenwash” results and instill confidence in
investors and the broader world.
But what does it really mean to do the right thing? In speaking with our clients, the
Skillsoft team has learned that this means something different to everyone. So, it becomes
the organization’s role to define “the right thing” for its employees through teaching a
comprehensive Global Code of Conduct that articulates what it is, what it believes, how
it conducts business, and what it expects from both employees and business associates.
How do you create and invoke a shared company purpose, or Code of Conduct, that
serves as the catalyst for focused CSR initiatives? Outline your organization’s “why,”
or reason for being. According to GBES, 85% of employees working for organizations
with a strong ethics culture indicate observing favorable outcomes when it comes to
compliance, an integral part of CSR.
As your organization evolves its Global Code of Conduct, and shapes its own CSR
program, here are some key considerations to keep in mind.
As business leaders, we have myriad options when it comes to giving back. Whether
you’re just starting your CSR journey, adding to an existing program, or finessing a
mature and robust commitment, we applaud your efforts.
Your thoughtful CSR strategy will enable your organization and your workforce to
navigate — and positively contribute to — our rapidly changing world.
Thank you for reading our first annual CSR at Work Report. We hope you‘ve gained
fresh insights into how your organization can move forward, concurrently “doing
well” and “doing good.”
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56+44+R
OR PRIVATE?
44% 56%
Public Private
Sustainability 18%
WHAT IS YOUR ROLE?
37+20+171592R
Operations 16%
9% 2%
Marketing 14%
Manager
15% 37%
Director Compliance 10%
Vice President Finance 8%
C-Suite
Investor Relations 7%
Individual
Contributor
17% Philanthropy 4%
Other
20% Other 3%
Transport, Logistics 9%
Energy, Utilities 8%
Financial Services 6%
Life Sciences 5%
Healthcare 3%
Education 2%
Other 1%
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