Social impact is a growing corporate strategy, even if it isn’t talked about, according to the results of a survey by the Association of Corporate Citizenship Professionals and YourCause from Blackbaud.
“The 2024 results show how the current landscape of corporate social impact is both dynamic and demanding, reflecting a field that is a priority to key stakeholders, including employees, customers, investors and community,” according to ACCP, which surveyed 125 companies in April.
Ninety-six percent of the companies reported a continued commitment to diversity, equity and inclusion, or DEI, initiatives.
“Despite the politically charged rhetoric surrounding DEI, the vast majority of companies in our survey continue to strongly support diversity initiatives,” ACCP President and CEO Carolyn Berkowitz stated in a related press release. “This aligns with the recent Gallup poll, which shows that both corporate leaders and the public recognize the importance of addressing diversity in today’s global marketplace. While the politicization of DEI may persist, business leaders understand its value, particularly as employees increasingly consider a company’s commitment to an equitable workplace when making employment decisions.”
Eighty-three percent of respondents said that their company leadership’s commitment to DEI has remained the same this past year, and 13% of the executives surveyed said that their DEI commitment has grown.
DEI has become a polarizing political issue this year, according to ACCP. That doesn’t mean that companies are backing away from their commitments, but they may be changing the way they talk about DEI.
“In this divisive political climate, companies are adapting by refining how they communicate their DEI efforts and increasing legal oversight of program details,” Berkowitz said. “But these changes in positioning should not be mistaken for a retreat from their commitment to diversity. Companies continue to engage in DEI efforts because, ultimately, it’s good for business.”
About a third (31%) of the respondents said they have changed language used to convey corporate social impact, and 17% of the 125 participating companies said they reduced their external communications on the topic.
“These figures underscore that while companies are committed to advancing DEI initiatives, they are also taking steps to manage associated risks,” according to the report. “This steadfast commitment to DEI by corporate executives appears to be easing the degree of worry among corporate social impact professionals about the longevity of their company’s DEI commitment.”
Fewer companies (9%) reported being “concerned” or “very concerned” about their company’s continued commitment to DEI compared with last year. At the same time, the number of “somewhat concerned” companies increased from 31% to 41% year over year.
