Reasons Why Corporate Executives Must Up their 'Social' Quotient
At a time when 'social' has come to be related to - or decreasing, as the case may be) one's presence on an increasing number of social media and networking sites in our society, there is an idea of being social whose time has really come: of Corporate India specifically, the people who make up our businesses making a sincere effort to understand and resolve the diverse so Why are you allowed to ask? To begin with, here are the reasons:
Because We Have a Long Way to go to Become a Better Society
For all the efforts being made to alleviate poverty and enhance the quality of life of our citizens, inside our community, immense inequalities exist, stifling meaningful change. The top 1 percent of India now holds a whopping 73 percent of the nation's income, up from 58 percent in the previous report, according to the latest Oxfam report. According to UNDP, India ranks 130 out of the 189 countries in the human development index. And we've just dropped seven positions in the World Happiness Report to the lowest-ever 140. Clearly, we are a long way from our mutual visions of a sparkling India. Even though, within the walls of our cabins and cubicles, and within the protected spaces of our gated communities, we do not confront this other' India, this is a fact we can no longer ignore.
Because it’s Everyone’s Job to do
It is now very clear that we need every hand, every talent and every bit of creativity that we can put in individually and collectively to make a dent in our development goals, considering the scope and the severity of the challenges we are now facing on the social development front.
It is not just the government's work or that of NGOs, activists and philanthropists to create a better society. As people of this country, we sometimes forget that the rights and freedoms we enjoy come with obligations that do not avoid paying our taxes or casting our votes against our fellow citizens and our nation. A sound democracy is a continuous work-in-progress that needs every citizen to do their part to demand and ensure effective governance at all levels. While we are concerned with our objectives and P&Ls, let's also dedicate ourselves to seeing changes in some of the above indicators.
Because we Can Make our Decisions Count
By way of the Companies Act, 2013, India has had mandatory corporate social responsibility (CSR). This alone would have released funds into the social sector by March 31, 2019 to the tune of about INR 50,000 crore. Money that can produce great influence if it is backed by a strong understanding of the cause being supported and a genuine desire to improve things for the better. Individuals who determine how these funds are used or have an effect on the decision-making process have a chance to do good with the CSR funds of their organizations, ensuring that the CSR initiative goes beyond just checking an enforcement box.
Because it Makes us Better Leaders
Waking up to the values inherent in us of fairness and equality makes us a better version of ourselves. It allows us to become more empathic and more successful leaders in the workplace, inspiring a culture of social responsibility and compassion. Which as enough studies have already demonstrated, translates into improved employee engagement and retention, and enhanced stakeholder understanding of the company?
Because we Owe it to Our Kids
Finally, we owe it to our children to leave a better world for them. Our generation is expected to leave behind a legacy of climate change, toxic air and water, fear, aggression and conflict for our future generations by refusing to consider and act upon the effects of our acts and choices. Surely that's reason enough to start more 'socially' thinking and acting?