This research examines the roles, responsibilities, development, and compensation of corporate citizenship professionals.
The Corner Office: USAA CEO Stuart Parker on the value of corporate citizenship
The following is excerpted from Issue 29 of The Corporate Citizen.
At USAA, CEO Stuart Parker recognizes that business and corporate responsibility goals should serve a common purpose. At the 2019 International Corporate Citizenship Conference, Parker shared the following insights from USAA’s corporate responsibility evolution:
“Corporate responsibility is the right thing to do, and it makes good business sense. When your company shows it cares, employees become more engaged, communities pay attention to what you do, and customers become more loyal.
Research in 2015 revealed that the world-class standard of corporate philanthropy is to give back one percent of profits. At the time, USAA was giving less than one-half of one percent. So we decided to take the issue to our board of directors in a compelling way. We communicated how to align our corporate giving for greater effect and more strategic focus. When we framed how to do it in a way that also helps our association, the board was very supportive.
Today, USAA proudly gives more than $40 million a year, which is one percent of our pretax income. Our members support this decision, too, because we have a strategy that ensures the money makes a huge impact.”
Read more in Issue 29 of The Corporate Citizen.
Related Content
The Environmental Protection Agency’s (EPA’s) National Strategy to Prevent Plastic Pollution is agency’s latest contribution to its “Building a Circular Economy for All” initiative.
In a significant step towards harmonizing environmental, social, and governance (ESG) rating activities, the European Union formally adopted the EU Ratings Regulation.
The National Labor Relations Board (NLRB) recently overturned a 2019 ruling that allowed employers to make changes to employment terms without union input.
The Federal Trade Commission (FTC) announced its final Rule addressing deceptive pricing practices often used in live-event ticketing and short-term lodging.
The New York Clean Slate Act, which went into effect November 16, 2024, allows for automatic sealing of certain convictions after a prescribed waiting period.
Learn how to make your business and community more accessible for people with disabilities.
Read this piece to understand how prioritizing ESG investments has affected the Japanese economy.