Recently, however, the debate over corporate social responsibility has been reignited – or reinvigorated – thanks to a letter to shareholders from one of the world’s most influential investors, Larry Fink, CEO of BlackRock. Fink’s message: to achieve their full potential, public and private companies need to do more than simply give of their time and money; they need to find more innovative and impactful ways to contribute to solving the broader challenges in society.
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.
The challenge for businesses now is how to do more while also recognizing their financial obligations to shareholders. How do you lead effectively with “Purposeful Engagement”?
“Taking CSR to a new level, Purposeful Engagement leads to a different way of operating that’s more impactful – for your business as well as for society.”
Taking CSR to a new level, Purposeful Engagement leads to a different way of operating that’s more impactful – for your business as well as for society. Here are the key elements to consider integrating into this new operating strategy:
Leading and engaging with purpose is a whole new way of doing business. It requires a less transactional and more relationship-based approach. Purposeful Engagement rallies all key stakeholders – internally and externally – around contributing to the greater good. Successful companies of today and of the future will embrace the idea of Purposeful Engagement as an avenue for achieving greater business success, attracting and retaining high performing talent, and building affinity and legacy for its institution, all while helping to make the world a better place.
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