Profile of the Practice 2013
The Profile of the Practice 2013 is a signature research project of the Boston College Center for Corporate Citizenship that explores how the environmental, social, and governance (ESG) dimensions of business—corporate citizenship—are managed today, and how these practices have evolved since the last report in 2010.
This report analyzes corporate citizenship strategies, operational structures, and business practices of 231 companies. It suggests that management of corporate citizenship is advancing and continues to be formalized and integrated into business. We found that above-average industry performers are more likely to have a formal corporate citizenship department, a program led at the executive level, and higher budgets for corporate citizenship and charitable giving.
Some key findings from the report:
- Higher levels of leadership
Executives are leading corporate citizenship efforts more frequently. Fifty-eight percent of the companies now have an executive at the head of corporate citizenship, compared to thirty-three percent reported in 2010. Nearly one-third of corporate citizenship leaders are within one level of the chief executive.
- Better resourced
In 2013, 97 percent of companies reported having an operating budget dedicated to corporate citizenship. In 2010, 81 percent of companies reported devoting financial resources to corporate citizenship. Thirty percent of companies reported an annual corporate citizenship budget of at least $1 million in 2013, a 25 percent increase from 2010. These budgets are exclusive of philanthropic giving. The average and median staff sizes increased from the last survey as well.
Executive leadership, formalized structures, and increased financial resources suggest that corporate citizenship continues to become an established practice in business. Increased chief executive engagement and more professional development suggest this positive trend as well.
The report also includes examples from companies on how they are successfully managing corporate citizenship.
Center for Corporate Citizenship members may contact Karen Hoff for a more customized view of the Profile of the Practice information related to your specific industry or other business demographic.