2020 Reveals the High Cost of Not Investing in Corporate Social Responsibility

Nov 9, 2020 9:00 AM ET
Article

In addition to the COVID-19 pandemic, the quest for greater social justice in 2020 has fueled companies to reexamine their diversity, equity and inclusion strategies, and they might take a page from Aflac’s commitment to a diverse workforce. In 2019, Aflac U.S. hired 729 new employees who were 58% ethnic minorities and 65% women — an increase of 20% and 16%, respectively, in comparison to 2018. Sixty-four percent of Aflac’s board members are ethnic minorities or women. Aflac also spent $24.5 million with diverse suppliers in 2019 and achieved a 386% increase in working with veteran-owned businesses, a 9.4% increase with minority-owned businesses and a 5.2% increase in women-owned businesses in comparison to 2018.

Aflac’s CSR Report reveals the insurer’s long history of giving. To date, Aflac has contributed more than $150 million to support the Aflac Cancer and Blood Disorders Center of Children’s Healthcare of Atlanta. Additionally, Aflac has contributed nearly $22 million to organizations supporting minority causes and education such as the United Negro College Fund, Boys and Girls Clubs of America, Girls Inc., Jack and Jill of America Inc., and United Way of the Chattahoochee Valley through 2019.

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