Connecticut is widely recognized for its high quality of life. The number and quality of the nonprofit organizations meeting the many needs in our communities are important parts of what makes this state such a great place to live, work and raise a family.
From running after-school programs and offering job training, to feeding the hungry and helping the elderly, these organizations are changing lives every day. Today, more than ever, nonprofits of all sizes are providing essential programs and services in the midst of challenging economic circumstances in our state and our nation.
If you want to get a sense of the needs of your community, spend some time with a nonprofit and their leadership. These committed men and women would tell you about the increased demand for the services they provide. They’ll talk about the growing number of children who are homeless or in danger of becoming homeless, the increased need for foreclosure prevention counseling, and the vast array of challenges that far too many Connecticut residents face as they cope with unemployment, underemployment and an economy that struggles to recover.
Despite this reality, most responsible companies have not retreated from their philanthropic and charitable initiatives. A recent survey suggests that corporate social responsibility remains a core business strategy for many companies. Ninety-four percent of respondents to the BSR / GlobeScan State of Sustainability Poll 2010 indicated that they plan to maintain or increase their corporate social responsibility and sustainability programs in the year ahead.
So why, during these uncertain times, do so many companies continue to embrace community involvement? A company builds lasting trust when it is responsive to the needs of the cities and towns it serves. Relationships are built and strengthened over time when a company acts ethically and responsibly. These values are as important to corporate reputation as the quality of the products and services a company provides. Corporate social responsibility is not simply the nice thing to do, it is the smart thing to do because it shows an understanding and respect for customers and potential customers alike.
Many companies are seeking to align there philanthropy with their existing business goals; some focus their priorities more narrowly on just a few initiatives which allows them to invest greater resources to make a greater impact in their particular are of concern. Most companies design and implement a strategy that best reflects it overall vision for community involvement. I strongly believe that the best organizations focus on interests, concerns and priorities of its workforce.
Can the private sector make an impact in the community and still make a profit? Can being socially responsible make a favorable impact on the bottom line? Absolutely. Because as corporate citizens, we can make a difference because we are actively involved in the communities we serve. And through longstanding collaborations with organizations like the Urban League of Greater Hartford, the Connecticut Association for Human Services, HEDCo and so many others, Citizens Bank has become a true partner in their work.
Philanthropy is so much more than writing a check or volunteering for a few hours. Real partnerships over time can make enormous differences in our communities. I hope we all can answer the challenge in our communities to put our collective ideas and resources into action in 2011 and beyond.
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Ned Handy is president of Citizens Bank in Connecticut.
