Successful companies of today are focusing their attention, and investments back on their employees, their communities, and their customers. This past year has been full of change in the way corporations advance and address issues in the workplace. Here are some of the trends of corporate social responsibility we can look forward to seeing over the course of this year.
The start to end workplace inequality and harassment
This past year, the headlines have been littered with stories of people coming forward about inequality and harassment in the workplace. With all of this coming to light, companies have no choice but to address and improve their policies. Corporations are going to be taking a hard look at the policies they have in place for internal reporting and find ways to make them better. Steps will be taken to close the gender gap in leadership and management roles.
The inclusion of all diversities
While most workplaces have been making great strides reducing the gender gap, there is still a diversity gap that holds many back. Factors such as language, age, culture, disability, sexual orientation, background, and so many others need to be part of this inclusion within companies. Populations, especially in North America, are growing more diverse. Companies need to build their cultural acceptance to reflect this ongoing change.
Prevention instead of recovery
From the many hurricanes that devastated the Caribbean and southern parts of the United States, to the monsoons that flooded Bangladesh, to the mudslides in Colombia, 2017 saw a lot of natural disasters. Corporations are taking action now to help prevent and mitigate the catastrophes before they occur instead of waiting for reactionary recovery measures. Companies are investing in innovative technologies and redefining their business models to support the challenges climate change is presenting.
Suppliers to be held to a higher standard
Consumers, especially the younger generations, are becoming more purpose-driven and are looking to support companies that are sustainable. To meet these consumer demands, companies are going to be holding their suppliers to higher standards of their business practices, environmental performance, corporate actions, and material sourcing transparency.