Dozens of US companies announced layoffs towards the end of 2022 and we continue to see more announcements of layoffs in 2023. Many companies are looking for ways to restructure and reduce operating costs while continuing to evolve how they focus on people and culture, including CSR and ESG initiatives. Given our role powering social good with companies, we wanted to gather data and insights on current trends shaping the CSR industry to help practitioners evaluate and strengthen their program strategies at a time when their stakeholders need them the most.
Chief Executives for Corporate Purpose (CECP) regularly surveys leaders in CSR and social investment at their affiliated companies on various topics throughout the year to get a pulse on current trends. In December 2022, the CECP Pulse Survey topic was corporate impact budget 2023 forecast, with ~60% of respondents reporting their budget would remain about the same or increase.1
As a follow up to that survey, we partnered with CECP to understand how current economic conditions are shaping the focus of corporate purpose in 2023. For the February 2023 CECP Pulse Survey, the respondent pool was expanded to include YourCause clients in the Global Good Network™. This special edition of the survey asked three questions aimed at understanding how companies are navigating their CSR programs during this time of economic uncertainty and what goals they have set.
74 respondents participated in the first question of the survey:
Are the current economic conditions impacting your corporate social responsibility programs?
a. No impact to our programs, it’s business as usual
b. Somewhat impacting our programs, we’ve had to tighten our belts
c. Significantly impacting our programs, we’ve had to make some cuts
The good news is that nearly 60% of companies report no impact. They understand the role they play in the community and are not pulling back. The companies have likely made the case internally that in times of uncertainty, the corporate social responsibility programs are off limits. Internally, the value of these programs is known.
46 selections were made by respondents who participated in the second Pulse survey question:
What elements will your program focus on in 2023 (select all that apply)?
While in-person volunteering took a hit during COVID, it is reassuring to see that companies are putting their attention into getting these programs back up and running as they can supercharge employee engagement and retention, as can matching gifts. Responding to disasters such as the recent earthquake in Turkey and Syria and the ongoing war in Ukraine has kept disaster relief programs active as well.
The third question was opened ended and 17 respondents participated:
What are the goals for your program in 2023?
Digging deeper into company priorities for 2023, some companies responded that they are focused on increasing employee engagement and participation through community impact actions and aligning giving with updated ESG strategic priorities. Others are focused on climate programming, deepening their focus on evidence-based programs, enhancing volunteer opportunities for remote workers, and exploring new partnerships and opportunities.
Companies are also prioritizing health equity, increasing in-person volunteering, launching inclusive green jobs programs, and improving the recording of volunteered time. Additionally, companies are focused on maintaining and increasing engagement, continuing to mature their hybrid engagement strategy, and maintaining their strategic focus on areas such as education equity, sustainability, wellness, and food insecurity. The results suggest that companies have a diverse set of goals and priorities for their CSR programs in 2023, designed to meet their unique stakeholder needs.
*Results reflect data pulled on February 28, 2023. These results are drawn from a representative sample of affiliated companies. When referencing this finding, please list the source as: Chief Executives for Corporate Purpose, Pulse Survey, February 2023. Topic: Blackbaud Special Pulse, field dates: February 21, 2023 – February 28, 2023.
References:
- Chief Executives for Corporate Purpose, Pulse Survey, December 2022. Topic: CI Budget Forecast 2023, field dates: December 13, 2022 – December 20, 2022.”