In its latest quarterly magazine the Boston College Centre for Corporate Citizenship (BCCC) has reiterated how community involvement activities can contribute to achieve corporate goals – particularly, when they are aligned with the company’s business context and the interests of its stakeholders. Companies are becoming increasingly adept at tying employee volunteer and corporate giving programmes to their business strategy. Interestingly, BCCC (2015) noted that many businesses have proritised community involvement projects, including; K12 education, youth programmes and health and wellness programmes among others. These social issues have featured as the top priorities for businesses, as evidenced in BCCC’s (2015) Table. In 2009 and 2011 the top issues were more focused on environmental matters.
The inclusion of health in the top three social goals implies that lately there is more concern amongst US citizens regarding the rising cost of health care. In 2015, the U.S. has spent 17% of its gross domestic product on health care. This figure is higher than any other developed nation, and is projected to reach nearly 20 percent by 2024.
Unsurprisingly, science, technology, engineering and math (STEM) education is also an area that is receiving increased investments from business communities. According to BCCC’s (2015) study, nearly 40% of companies are focusing on STEM education in their community involvement programmes. These efforts ensure a future pipeline of talent and skills. In fact, OECD (2014) anticipated that there will be a 17 per cent increase in STEM related jobs between 2014 and 2024 (OECD, 2014).
Arguably, businesses are putting food where their mouth is. As they focus their competences and resources in the areas where they can do the most good, there is potential for them to achieve greater returns on their discretionary investments. At the same time, they close the skill gaps and mismatches in their labour market (Camilleri and Camilleri, 2015).
BCCC (2015). The Corporate Citizen, Issue 14 (Fall 2015) Boston College Center for Corporate Citizenship https://bc-ccc.uberflip.com/i/571714-corporatecitizen-issue14
Camilleri, M.A. and Camilleri, A. (2015). Education and social cohesion for economic growth, International Journal of Leadership in Education, DOI: 10.1080/13603124.2014.995721