Learn how companies are aligning social, business, and human capital investments through Global Pro Bono.
Since 2010, the biannual Global Pro Bono State of the Practice report has highlighted trends and best practices in Global Pro Bono. This year’s report draws on survey data from 26 companies, 63 percent of which belong to Fortune’s Global 500. With survey data dating back to 2008, the longevity of this initiative by organizer PYXERA Global provides a robust understanding of the practice as it grows and evolves. The report provides a snapshot of the current state of Global Pro Bono and a look at top trends to guide companies seeking to initiate or expand their programming.
Society is increasingly concerned about corporate behavior, with 86 percent of millennials, who represent the biggest global generation, believing financial performance should not be the sole measure of business success. Greater adoption of environmental, social, and governance (ESG) indicators to inform long-term business strategy and to demonstrate improved performance and investor confidence also reflects business’ response to growing demands to demonstrate positive social impact.
As BlackRock CEO Larry Fink cautions, if companies do not address issues important to these stakeholders, their profits will suffer. The approach, he writes, “must begin with a clear embodiment of your company’s purpose in your business model and corporate strategy.” Global Pro Bono programs are one alignment strategy companies are using to this end. Programs empower employees to embody their company’s purpose while building the capacities of social impact organizations working directly with communities to provide enduring solutions to their most pressing problems.
The report’s findings reveal a growing emphasis on social impact priorities as companies align their Global Pro Bono programs with broader corporate strategies to capture and deepen program benefits. For the first time, the motivation to generate sustainable social impact has surpassed leadership skills development and increased employee engagement as the top reason to invest in Global Pro Bono. The trend corresponds to changes in how business is conducted, as the workforce, investors, customers, and communities hold companies to higher social standards.
To learn more about Global Pro Bono, contact Gavin Cepelak, Vice President, Global Pro Bono at [email protected]