In 2020, the Covid-19 virus spread like wildfire throughout the world. Many organizations had to reroute some of their plans and Corporate Social Responsibility became even more important for organizations to ensure that they could contribute to mitigating the issues created by the pandemic. This has led to a lot of changes in the way organizations approached their CSR & sustainability efforts.
5 biggest changes experienced by CSR departments of corporations.
1. More Focus on the Health Sector
We used to place a lot of our focus on dealing with socio-economic & environmental issues. However, the Covid-19 pandemic put the health sector at the forefront. Many organizations channeled their funds & other resources to make sure that front liners & other underprivileged people could get basic health support & protective gear during this time.
In addition, the pandemic raised concern over our preparedness to deal with a pandemic like this, and many organizations are working towards making sure we are prepared for similar pandemics in the future.
2. More Focus on Donation
Pre-pandemic, active volunteer work by the employees used to be a prominent part of many companies’ CSR efforts. However, as work moved online and most companies did not want to put their employees at risk, they moved towards donating funds to NGOs or health sector organizations to avoid risk and still be able to contribute.
3. Higher Demand from Employees to Contribute
Many companies are also seeing an increase in the number of employees who want to be able to actively contribute to a social cause. The pandemic has been a wake-up call for almost all members of society and people are looking for ways to be able to help each other & especially those from underprivileged sections of society.
4. Doing all of This with Fewer Funds Available
One of the biggest causes of concern for many companies has been an overall decrease in revenue. This has resulted in fewer funds available for the CSR & sustainability department as companies struggle to stay afloat. It could be a great opportunity to reassess the way you spend funds and improve the efficiency of projects.
Covid-19 has brought the world at a halt and brought to the fore the inequality existing in this world. Today more than ever, we need companies with resources and skills to come forward and help the underprivileged section of the society and also take a reality check; where we are right now, the world we want to create and how can we avoid a situation like this again.