CSR Analytics: Quantifying the Human Dynamics of CSR
A few weeks back we had this question put up on our student forum, “Do you see organizations leveraging CSR Analytics as an easy to use tool to improve employee engagement and employee self worth? Describe some instances that you find relevant and educative for the audience.”
I think this is a very interesting and relevant question and thought to share the response I gave on the forum with all of you as well. Do feel free to get back to us with your thoughts.
In India, spending on Corporate Social Responsibility projects is now mandatory for business entities that meet certain criteria of size and revenue1. Estimates on future spends on CSR in India ranges from INR 8700 Crores3 to INR 20,000 Crores2 (approx. USD 1.4 to 3.2 Billion as of Nov. 2014 exchange rates), by a total of about 6000 companies2. As such, the new mandatory CSR regime will unleash a new CSR “market” in the Indian socio-economic sphere:
With any such emerging and high-velocity market comes new sets of challenges and opportunities.
Challenges arising from mandatory CSR
India is the first, and so far the only, country in the world to legally mandate, subject to monitoring and penalties for non-compliance—CSR. This legal aspect, along with the potentially very large size (in financial terms) of the CSR “market”, creates several key challenges for all CSR stakeholders. These challenges can be analyzed in the following broad categorical terms:
India Decision Management’s CSR Analytics methodology: A client success story
A Fortune 100 technology multi-national approached IDM with a mandate to
Instead of using vanilla CSR Analytics tools, IDM consultants chose to apply the unique CSR Analytics methodology to address the clients’ requirements. A fine-grained analysis was performed on data representing the choices and actions of employees who were part of the company’s CSR processes.
The key inferences from IDM’s unique methodology based analyses were:
The company had jumped in size from around 8,000 employees to 12,000 employee in a span of 2 years. This explosive growth had resulted in a change in demographics of the employees. With a younger and more group-activity oriented employee base, some CSR activities were redundant while some newer ones were coming to the forefront.
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The above insights from the analyses will enable the company to:
Image courtesy: http://www.freedigitalphotos.net/ Stuart Miles
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