Purpose-Driven Business Is Our Path to a Better Tomorrow

Corporate purpose is driving change on key issues like social and racial justice, climate change, and ESG, plus it plays a pivotal role in creating a sense of belonging and connection, shaping employee attraction and retention, influencing customer preference and loyalty, and driving tangible business outcomes for investors, customers, and employees alike.

Benevity analyzed data and insights from our community of more than 850 clients with 20 million employees and hundreds of millions of customers and what we found was clear: corporate purpose is no longer a nice-to-have – it’s now business critical. As a result, a new breed of for-purpose companies has emerged, and their work offers us the community, trust, hope, and action we sorely need to create a better future for people and the planet.

Listen to the report now to:

• Unpack the major societal and industry shifts from the last year
• Hear the top five trends shaping the future of corporate purpose in 2022
• Gain actionable insights to level-up your programs and companies - no matter where you are in your purpose journey

To read the full report, go to benevity.com/state-of-corporate-purpose-2022

Timestamps of the Report:

0:00 - Purpose is changing the way we do business

2:40 - The Story of 2021: A movement toward sustained impact

5:40 - In times of need, businesses are stepping up

12:25 - At the root of the Great Resignation is the great search for purpose

22:31 - Employee-led action on DEI&B is changing culture from the bottom up and inside out

29:39 - The future of Corporate Philanthropy is Stakeholder Philanthropy

34:32 - ESG is how shareholders understand purpose

37:44 - Purpose-Driven Business is our path to a better tomorrow

As the world changed right in front of our eyes over the last couple of years, we witnessed companies and their people rally together to create the Goodness we so sorely needed. And we see even more proof today of something we’ve long suspected — that corporate purpose is done best when it’s democratized. When voices from every community and every walk of life are included and considered.

Because companies who act with purpose can do things that few other institutions can. They inspire and amplify grassroots movements. They act as catalysts of change and create a sense of connection. They give us hope. They foster a sense of belonging among their employees that helps people feel better about their work. They drive tangible business outcomes for investors, customers and employees alike. And they change the world one person and one company at a time.

To read the full State of Corporate Purpose Report 2022, go to benevity.com/state-of-corporate-purpose-2022

The desire to see purpose in action is not new for employees and consumers, but it’s surely attracted the attention of investors. Environmental, social and governance (ESG) policies and strategies have taken on increasing importance for shareholders and boards. Just look at the marked rise in ESG searches in the last five years.

At the same time, recognition is growing that ESG needs to go beyond reporting, compliance and risk mitigation strategies if it is to live up to its ideals. It has to be engagement-driven and enroll employees, customers and other stakeholders in authentic, meaningful ways that boost impact and trust.

ESG has now proven to be a major value driver on its own — it will only remain so if we stay steadfastly committed to the power of doing well by doing good.

To read the full State of Corporate Purpose Report 2022, go to benevity.com/state-of-corporate-purpose-2022

The future of philanthropy is going to be democratized and will require the engagement of more stakeholders than ever before, including nonprofits, employees, customers, affinity groups, ERGs, community boards and even those who benefit from the efforts of all of the above. Participatory grantmaking is the way of the future. It brings in the voice of more stakeholders to determine funding areas and approaches, identify partner organizations and make lasting change.

To read the full State of Corporate Purpose Report 2022, go to benevity.com/state-of-corporate-purpose-2022

The rise of affinity groups

In 2021, affinity and employee resource groups (ERGs) driven by passionate employees proved to be one of the most powerful ways to foster a more diverse, inclusive workplace and help employees feel a real sense of belonging and purpose at work. A successful group not only gives people space to be themselves, but it can bring new ways of looking at issues, create connections and drive innovation. It can also act as a critical resource for companies looking for insights into experience gaps, employee dissatisfaction and systemic bias or barriers.

To read the full State of Corporate Purpose Report 2022, go to benevity.com/state-of-corporate-purpose-2022

A brave new purpose-driven world: employees urge companies to take action

Whether it’s boomers retiring early, low-wage workers seeking better workplace conditions, the disproportionate burden placed on women to be the primary family caregiver, or people looking for more purpose and autonomy in their lives, there are a number of factors contributing to what is now known as the Great Resignation. While many people associate this trend with the emergence of COVID-19, the truth is it has been growing steadily for a decade.

And the data shows that today’s workers, particularly Millennials and Gen Z, prefer brands that allow them to have a positive impact — whether it’s the brands they support with their buying habits,2 or the places they choose to work3. In other words, they have new criteria for who they do business with, and their prioritization of values hit a tipping point in late 2021. With employee retention and engagement becoming more urgent concerns than ever before, companies are adapting their thinking to prioritize what’s important to their people.

To read the full State of Corporate Purpose Report 2022, go to benevity.com/state-of-corporate-purpose-2022

From defining moments to grassroots investments

In 2021, companies shifted the way they made social investments. In their quest for purpose and a heightened focus on making a meaningful impact on some of society’s most pressing social issues, they showed stakeholders that they could be trusted to do the right thing.

To read the full report, go to benevity.com/state-of-corporate-purpose-2022 

As we looked for ways to make a difference coming out of the painful events of 2020, record-high levels of donations were maintained. Each of us dipped into our wallets to donate just a little bit more than we did before the pandemic struck. We also donated more often, reflecting a desire to positively change society in a more sustained way.

Benevity’s data and insights from our community of more than 850 companies with 20 million employees and hundreds of millions of customers reveal five top trends shaping the future of corporate purpose in 2022:

1. In times of need, businesses are stepping up
2. At the root of the Great Resignation is the Great Search for Purpose
3. Employee-led action on diversity, inclusion and belonging is changing culture
4. The future of corporate philanthropy is stakeholder philanthropy
5. ESG is purpose for shareholders

To read the full report, go to benevity.com/state-of-corporate-purpose-2022

• Learn from the best in purpose-driven business
• Become a top employer, where employees feel empowered by a stronger organizational culture
• Increase the impact of your corporate purpose program
• Gain insights into how companies of all sizes, and with all budgets, can design effective programs

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