2021 Rocket Social/ACCP Research: Impact of COVID-19 and the Racial Justice Movement on CSR
It’s been 18 months and the global pandemic, alongside deep social and political unrest, remains central in the daily lives of most people around the world. Recently, Realized Worth had the opportunity to speak with the CEO of ACCP about their research on the impact of COVID-19 and the racial justice movement on corporate social responsibility. What we learned was encouraging! There is much work to do but, slowly, companies are taking greater responsibility for their power and influence and contributing to positive change around the world. Read below and see for yourself. We hope you’ll be encouraged, too!
The big story coming out of the survey is how companies are incorporating diversity, equity, and inclusion into both the way they approach their CSR work and the work they choose to do. Many of the long-term shifts are directly related to the racial justice movement, with 64% shifting or adding a racial justice/equity focus and more than half (53%) funding new nonprofits with a racial-equity mission.
Nearly half (47%) of the respondents indicated that their funding budgets have increased, which is good news. 36% of budgets remained flat, and 14% are experiencing a decrease. However, from a staffing perspective only 15% of companies say their CSR team has grown, and for 77%, CSR headcount remains flat. What this tells us, unfortunately, is that despite the increasing visibility of the function and demand to measure, integrate, and implement new strategies, most CSR functions remain under-resourced. But I’m an optimist. Putting out this kind of research and talking about it with influencers like you will help spread the word. I think we’ll see increased resources in the years to come.