For example, some companies have programs that financially reward individuals or businesses that are using technology to positively change the world. Winners of programs like this may receive seed money as well as exposure through their association with the company. But it’s important there’s no requirement that the entrants use your company’s technology. It shouldn’t be used a sales channel; rather, it should be a program to inspire and encourage entrepreneurship and technology solutions in order to generate social impact.
The recent grand prize winner of one of these programs was an innovative solution to a growing problem in poverty-stricken India and is worth highlighting. The New Delhi-based organization, Oorja, has developed a solution to help farmers in India better irrigate their crops. Oorja has designed a community-based, pay-as-you-go solar pumping service that offers a cleaner and more cost-effective alternative to the traditional diesel pumps that are widely used. There is no overhead for the farmers, as Oorja is responsible for the design, installation, site selection, training, water disbursement, customer service and maintenance.
Oorja’s solar pumping service, branded as Oonnati, meaning “progress” in Hindi, is having a multiplicative positive impact. The farmers in India save money and can increase revenue, enabling them to create jobs and stimulate the local economy. Also, clean energy means the farmers are no longer breathing in toxic fumes, which reduces respiratory issues. Lastly, there is an environmental impact of moving away from fossil fuels and lowering greenhouse gas emissions.
I recommend business leaders look at their own programs and consider the following.
Make CSR Part Of Your Company Culture
Create a culture where every employee is thinking about how they can help. CSR should be a top-down initiative supported by the entire C-suite. Create incentives for employees to get involved in developing their own ideas on how to further the company mission. This could include paid time off when working on CSR initiatives, an awards program or seed money to kick-start an idea. Also, the leadership team should be highly active in company-endorsed programs. It starts at the top, and employees will take their cue from company leaders.
Look At Goals Differently
Create a goal based on the number of people impacted, not the amount of money donated or spent. Make this a stretch goal that will force the company to explore nontraditional CSR initiatives. Writing a check to a charity or nonprofit is one way of helping, but it’s easy, particularly for highly profitable organizations. Business leaders shouldn’t be satisfied with doing the easy thing. Instead, take Cisco’s lead and base your CSR goals on how many people the organization can help. This will require thinking of alternative CSR initiatives that impact a large group of people.
Get More Results From Your Investment
Look for ways to fund smaller companies that can have a big impact. Get involved with entrepreneurial organizations in the local region, and seek out those people who have made it their mission in life to solve big problems. Provide financial, marketing and channel support, if possible, as that will enable the company’s investment to go further.
Do Not Tie CSR Initiatives To Revenue
The intent of CSR initiatives is to help others in need and to solve big problems. This goal should be maintained and the programs never tied to sales and marketing activities. For example, if the company mandates that winners build solutions on its technology, it limits the scope of entrants and makes the program look very self-serving. CSR programs are about doing good and have nothing to do with revenue or profits.
Collaborate With Other Leaders
The scope of what CSR encompasses is very broad, and no one has all the answers. The best way to move programs forward is to collaborate with other business leaders to share ideas and discuss what’s possible. Run local events where CSR leaders can meet with peers from other organizations to find ways to share resources, leading to a “one plus one equals three” scenario. Alone, we can accomplish a little bit, but together, we can accomplish so much more.
Article Credit: forbes