Corporate Social Responsibility, or CSR, is closely linked with the principles of sustainable development. It calls on the corporations to look not just at profits or dividends while making decisions, but also to consider the immediate and long-term social and environmental consequences of their activities. It is, therefore, clear that there is a greater expectation from a company than simply delivering great products or services.
Besides delivering on the moral/ethical responsibility and building a social brand image, corporates stand to benefit from the innovations that come with such activities helping them become more innovative as an unintended concomitant to a CSR initiative. For instance, corporates may find serendipitous identification of more efficient methods of doing business or new types of products or services, not realized erstwhile, if there were no CSR initiatives in the first place. This approach can provide a competitive edge by making them more responsive to consumer trends.
There is an enormous difference between strategic CSR and charitable donations or the good works of corporations. Strategic CSR requires a company to balance the needs of all stakeholders with its own need to make a profit and reward shareholders adequately. Also, there are no fixed initiatives when it comes to CSR activities and the ways to do these, as a company's interactions and interdependencies with society are many and complex.
So, a casual or quick-fix approach towards CSR can cost a company huge opportunities for both the business and society. It is, therefore, imperative that CSR must become an integral part of the skill set of all business leaders as an innovative way to solve critical problems instead of being treated as a mere function. When leadership remains vigilant, they are better able to identify opportunities of profitable innovations that can result as part of the CSR process as and when they occur. By incorporating both intended and potentially unexpected (and unintended) outcomes into a company strategic business plan, the CSR process can serve as a framework in which such innovations can be identified and then exploited to the company's advantage.
Corporates can improve profitability through various community-based programs that respond to local needs, and gain a CSR-related advantage over their competitors. Innovative companies are thinking and acting in terms of a triple-bottom-line ethic, which goes well beyond the drive to maximize shareholder value by incorporating environmental quality and social justice considerations into their business decisions. So, CSR should be considered an investment for bringing about social value and not an expense.
KarmaKonnect believes in Corporate Social Value rather than Corporate Social Responsibility because ‘responsibility’ somehow connotes a ‘by force’ aspect. With this belief, KarmaKonnect helps large corporations (under the ambit of the new CSR rule) and SMEs/startups to realize the maximum value and impact on their investment by aiding transition of CSR concept from a cost center to strategizing the spend, creating opportunities to help solve social problems, and also reap benefits from a properly implemented strategic CSR program.
KarmaKonnect’s low cost, yet replicable and scalable model of project implementation ensures that your contributions are maximized to impact more lives. When corporates are equipped with the knowledge, capacity, and funding opportunities to make their work more strategic, the social sector in India will be transformed dramatically and more people will be moved out of poverty at a faster pace. Thanks to its strong network of partnerships with various institutions, KarmaKonnect is able to mobilize your resources in the development sector, and execute it with transparency and accountability. KarmaKonnect has supported causes such as women's health, education, community empowerment, vocational training, rural livelihoods, financial literacy, and many others.
KarmaKonnect's unique model unlocks the most effective and scalable interventions by equipping philanthropists and social entrepreneurs with knowledge, capacity, and funding opportunities through collaboration and funding, capacity building, and creation of knowledge.
KarmaKonnect has been providing CSR consulting services to several leading companies helping them shape their CSR strategy, facilitate program implementation, run cause-related marketing campaigns, and assess the impact created. KarmaKonnect also works with donor agencies, foundations, NGOs, and social enterprises on high-impact social programs entailing capacity building, research, events, and fundraising campaigns. KarmaKonnect has streamlined corporate funds to the tune of INR 24 crore and facilitated awards and grants of more than INR 14 crore.
Whatever your motivation – volunteering or giving, corporate grant making, disaster relief and so on – KarmaKonnect’s giving and volunteering solutions can help your company reach the highest levels of employee engagement and social impact. KarmaKonnect believes that the lifeblood of any company is ‘Cause’ and provides the best platform for businesses, non-profits, and volunteers to unite and deliver on monumental social change goals and initiatives. As such, KarmaKonnect is deeply committed to the belief that businesses can and must be a force for doing well, and helps build motivated workplaces through smart, secure, social employee philanthropy solutions.
KarmaKonnect continually collaborates with corporate social responsibility leaders to help build memorable and impactful philanthropy opportunities into their employee benefit programs. Partnering with the top providers, KarmaKonnect offers you the most robust giving solutions and add-ons that ensure your program feels truly unique. When you collaborate with KarmaKonnect, you become a part of an ‘impact ecosystem’.
With KarmaKonnect’s support, you can seamlessly manage all your corporate philanthropy and also create a culture of social purpose, while driving employee engagement and retention. KarmaKonnect has a four-fold approach to the entire engagement process:
- Identify what’s working, what’s not, and why
Many employee volunteering and workplace giving programs aren’t as successful as they should be. KarmaKonnect will invest the time speaking to your employees, asking them the right questions, and listening to what they have to say.
- Motivate employees to participate:
One out of three employees is already sold out to the idea of giving back and making a difference. We find such employees to form a team, and collaborate with them to ensure your program has the participation rates you hope for and the meaningful results you want to see.
- Plan a workable program for your company:
Each company has its own unique personality. KarmaKonnect will walk you through a design meeting to identify the nine key components of an engaging program and build a framework that will equip you with a step-by-step pathway to excellence.
- Steps to ensure ongoing success:
KarmaKonnect will assist you to manage an overall, sustainable process that builds on the leadership and capacity of your employees and see meaningful engagement and leadership development among your employees.
In addition, KarmaKonnect provides you with the much-needed support, hands on insights, and guidance to confidently guide your team to success.
KarmaKonnect promises the following overall deliverables:
Customizing the program design to fit your unique needs, KarmaKonnect will create a structured volunteering and giving program that includes:
- A complete measurement framework with an assessment questionnaire and scorecard
- Vetted partners
- Required policy and procedure materials
- Administrative infrastructure (leveraging the interests and skills of employees)
- The right technology to support the program objectives and processes
- Reward and recognition programs
- Strong communications strategies and materials for internal promotion
- Opportunities for giving and volunteering that fit employee interests and levels of available commitment
- Opportunities for giving and volunteering that are engaging and increase levels of employee satisfaction
- Enthusiastic employee volunteers on the ground, providing support to CSR staff, prepared to recruit and support other volunteers
- A program that is highly inclusive, extending beyond corporate culture and empowering the individual passions of employees
KarmaKonnect also provides bespoke services like program policy development, toolkit design, research and benchmarking, and consulting.
- Program policy development: If you still don’t have a giving and volunteering policy, KarmaKonnect content specialists can help you develop your unique policies.
- Toolkit design: KarmaKonnect helps you design a kit that equips employees to make decisions and take action. Required policy and procedure materials
- Research and benchmarking: KarmaKonnect’s collaboration with global corporations in the rapidly evolving field of CSR requires it to stay up-to-date on the best practices, recent developments, and upcoming trends. KarmaKonnect will tap into its trusted networks and get you the information you’re looking for.
KarmaKonnect also supports its partner organizations in:
- Rewards and recognition
- Workplace giving software
- Communications and storytelling
- Measurement and reporting
KarmaKonnect’s USP lies in its extensive grassroots network of 200 NGOs and over 20+ social enterprises. You get to leverage this strength resulting in a deep understanding of and strong relationships with social organizations. This leads to effective management and implementation of your projects.
KarmaKonect helps your company identify opportunities that can help use CSR innovations to your company’s advantage by adhering to the following broad guidelines:
- Make social commitment a part of your corporate culture
- Stay 'ahead of the curve' with compliance to rules and regulations
- Keep your programs, practices, and products clean
- In times of trouble, be honest and flexible with your plans
- Make environmental groups your friends
KarmaKonnect performs rigorous due diligence on every organization recommended to you, in order to ensure they are performing social impact work in a transparent and accountable manner, and that they meet operational guidelines and financial reporting requirements for registration with the government.
KarmaKonnect collects and reviews documentation for every organization, including its legal documents, financial records, program materials, and lists of senior staff and board members, in order to validate the organization that is running the project as described.
KarmaKonnect researches the organization’s relationship with previous funders and evaluates the organization’s capacity to implement activities, and communicate about its work. Finally, it is also ensured that the organization is compliant with anti-terror guidelines and is deeply committed to nation-building causes. Each organization is required to submit quarterly project reports, including activities, accomplishments, and results of the project to-date. A thorough due diligence is conducted on all organizations every year for renewal, and every effort is made to ensure each organization is personally visited by a KarmaKonnect representative once every three months.