(3BL Media/Justmeans) – Companies around the world contribute billions of dollars to community projects but, in many cases, do little to assess how this affects the communities supported or benefits the business. Research published by Corporate Citizenship revealed that many companies invest in communities without setting out what they want to achieve, and without measuring the difference their contributions make.
The LBG framework provides a global standard for measuring corporate community investment. It helps businesses overcome measurement barriers by enabling them to consistently manage, measure, and benchmark their community contributions. In turn, businesses are in a stronger position to strategically progress their programs and develop a compelling narrative.
Over 200 businesses globally use the framework and subscribe to LBG’s vision. These companies are upping their game and recognizing the very real business risk of wasted resources. The LBG Annual Review 2016 reveals that in 2015-16 LBG members contributed $3.3 billion to community and philanthropic investments, reaching 65 million beneficiaries worldwide.
The review also reveals key trends emerging among LBG member companies:
Nearly 80 percent of contributions made by LBG member companies supported strategic community investment projects and commercial initiatives in the community – compared to just 38 percent in 2007 – as LBG member companies are thinking seriously about the causes and issues that are of most relevance to their businesses.
Thirty-two percent of beneficiaries experience a positive change in behavior, 31 percent develop new skills and 24 percent improve their quality of life.
About 600,000 employees of LBG member companies actively participated in voluntary activity. Where measured; 41 percent improved their job-related skills, 58 percent improved their personal impact and 59 percent made positive changes in behavior as a result.
According to Jon Lloyd, Head of LBG, the member companies are placing an increasing focus on impact, and are asking hard questions of the community activities which they support to understand whether, and to what degree, they add value and generate change in the areas they are focused on. This strategic approach is leading to more effective and impactful giving.
Source: Corporate Citizenship
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