These forward-thinking companies' efforts show that committing to education as part of a brand’s CSR strategy is, truly, a commitment — but one that can pay dividends both to society and the company itself.
Corporate Social Responsibility (CSR) has evolved significantly since it was
first formulated back in the 1970s and gained broad clout in the 1990s. Then, it
was often focused on enhancing a company’s reputation, often through meaningful
efforts such as local environmental
clean-ups,
staff volunteer programs, or donations to non-profit organizations. But it was
rarely strategic, nor addressing
societal change; instead, it usually focused on communities or sectors directly
connected to the brand itself.
That is changing. In a world facing crises including a global pandemic,
escalating climate-related weather events, and systemic inequities, doing CSR
the old-fashioned way — as feel-good, one-off events — is no longer feasible.
Brands are increasingly facing pressure from customers to take on big social
challenges. One way a brand can begin addressing these broad
issues
is by focusing its CSR strategy on
education.
“We must build the missing layer of education — the instruction that prepares
students with the skills to build more vibrant and healthy lives,” Tom Davidson,
founder and CEO of EVERFI — an international technology
company driving social change through education — recently told
Fortune.
“There is a way to address this: by democratizing education and recognizing the
vital role of Corporate America.”
Education is important to consumers
According to a recent EVERFI white
paper,
60 percent of consumers want companies to spend their CSR budgets on education —
more than art, health, sports or economic inequality. They also found that 66
percent of consumers say companies have an obligation to invest in the future
workforce through education. Moreover, according to Meg Moyer, VP of
research at EVERFI and author of the white paper, these consumers are also more
likely to stay loyal:
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“Those who value education in a company’s social impact efforts are more likely
to spend more money on a product even when a more affordable option exists,
recommend a brand to a friend, follow a brand on social media, download their
app and donate to a charity that brand supports."
Investing in or working with partners to improve education outcomes may seem
daunting at first, and it will require significant organizational buy-in,
including from the top. But it can be done and could be the best way to advance
a more sustainable, equitable future.
Brands at the forefront
One company already integrating education into its CSR strategy is Stanley
Black and Decker
(SBD) — market leader in the manufacture of industrial tools and household
hardware, and provider of security products. At first glance, education may not
seem like a natural focus for the company — but, in fact, it is very much so.
“We have — as a broad, diverse, industrial organization — a lot of skills in
engineering, graphic design, artificial intelligence, robotics; so, we can offer
more than just philanthropic dollars — we can offer expertise, as well,” Nick
Keightley, SBD’s corporate environment health safety and social responsibility
director, told Sustainable Brands.
Sensing an opportunity and driven by an engaged CEO, SBD set an ambitious goal
in 2018 — to empower 10 million “makers and creators” with new skills by the
year 2030 — noteworthy not only for its scope, but its long-term, future-focused
target. The figure, 10 million, is meaningful too; according to Keightley, it’s
the number of global manufacturing jobs that remain unfilled due to a shortage
of workers with the right skills.
SBD’s efforts focus on STEAM (Science, Technology, Engineering, the Arts and
Mathematics) education — and includes programs to reach students, up-skill
existing workers, and encourage more people to get trained in trade skills. The
company works with proven field partners such as the Business Higher Education
Forum,
WorldSkills and Greenlight for
Girls.
“It’s not just giving skills, but creating a passion for engineering and science
— and pivoting that slightly to also indicate a potential career path,”
Keightley said.
Despite being several years into the program, measuring impact remains a
challenge because educational outcomes are hard to track. Currently, SBD relies
on partners, and is exploring ways to measure broader social and financial gain.
But in the end, what matters most is not the direct benefit to SBD; but if the
program is working and helping people gain needed skills.
“It’s good to make sure that when we invest there’s an impact, a gain for
society,” said Keightley. “For education, we’re giving it to the individuals,
who may not pay anything back to SBD. If we’ve done some good for them, it’s
good for us.”
SBD is not alone — as more and more brands are testing innovative ways to
incorporate education into their CSR strategies. For example, telecommunications
giant AT&T can play a unique role in
increasing access to digital learning. While this digital gap became a bigger
issue as the pandemic forced students to attend classes from home, it is
actually a longstanding
issue..
AT&T’s Connected Learning
program
is directly linked to the company’s core business focus. It aims to address the
digital gap by working with teachers and schools to increase access to
high-speed internet access. It also has, importantly, a public policy component
— AT&T lobbies and pushes for greater investments in broadband infrastructure.
Meanwhile, Mastercard has
taken a more holistic approach with its Scholars
Program
— launched back in 2012 — with a goal of supporting the education and leadership
development of 15,000 young people in Africa. In order to assess the
program’s impact, after five years the company commissioned a report that
highlighted challenges and learnings from the program, which has since grown to
support 35,000 African students.
Long-term impacts and benefits
Moyer believes that these brands will benefit not only from a more educated
workforce, but also from greater brand loyalty. “Education-concerned consumers
are high-value customers. Investing in attracting these customers via education
efforts can pay off for companies in the form of increased engagement and ongoing loyalty,” she said in the white paper.
SBD, AT&T and Mastercard’s efforts show that committing to education as part of
a brand’s CSR strategy is, truly, a commitment — but one that can pay dividends
both to society and the company itself. It is a win-win strategy for any
forward-focused brand looking to expand and grow its social impact.
Published Aug 24, 2021 8am EDT / 5am PDT / 1pm BST / 2pm CEST
Media, Campaign and Research Consultant
Nithin is a freelance writer who focuses on global economic, and environmental issues with an aim at building channels of communication and collaboration around common challenges.
Sponsored Content
/ This article is sponsored by
EVERFI.
This article, produced in cooperation with the Sustainable Brands editorial team, has been paid for by one of our sponsors.