At our recent Annual Network Meeting our CEO Tina Roche gave an overview on the 2015 Corporate Social Responsibility trends. Irish business must adapt to evolve and to manage the risks and secure the opportunities of the new global trends, responsible and sustainable business is a key part of this survival. Here are the main points:
We hear a new language getting stronger: Circular economy…. Conscious Capitalism…. Purpose driven leadership …Smart cities…social innovation & entrepreneurship. This reflects the changing environment in which business operates. For example in workplaces, a US study by EY of their own workforce composition identified that 59% of their managers are already Millennials and 18% are senior managers. The expectations of this Generation will both direct and impact on how business is carried out.
According to a recent Forbes study in 2015 honesty will become a revered leadership trait. Companies are going to start embracing transparency more as younger generations are demanding it. Leaders won’t just have to be good at inspiring and educating, they will have to be able to instil trust through honesty.
In addition when Forbes analysed marketing trends for 2015, transparency is to become the most important tool of marketing as consumers are going to continue to exert power and influence.
Companies will be focused more on internal communications as a marketing asset, as a key challenge and opportunity to create brand ambassadors and make sure that employees and suppliers understand and live “the brand,” as well as the vision and strategy of the company.
Positive changes ahead as we see a move away from one-off engagements with charities with a move towards longer term relationships with charity partners. A move towards strategic volunteering and a clear rise in professional skills volunteering as well as a growing impetus to use core expertise and resources to support the upskilling of the community& voluntary sector.
Across the globe, consumers know that public authorities are struggling to address many pressing social and economic issues in the face of constrained funding and inappropriate service systems. Research group MSL, identified that 73% of Millennials don’t believe governments can solve today’s issues alone, and 83% want businesses to get more involved (MSLGROUP, September 2014).
In Ireland, 29% of people say they trust their national government, less than the OECD average of 39% (OEDC Better Life Index). Trust in government is essential for social cohesion and well-being. That’s why in 2015, forward-thinking companies will step up to the challenge of real, meaningful change in the civic arena.
We have a real opportunity now in Ireland through the new National Action Plan on CSR under our Department of Jobs, Enterprise & Innovation.