The highest pinnacle in Maslow’s Hierarchy of Needs is Self-Actualization, or what we know to be personal growth and fulfillment. A broad category, it covers intangibles, such as influence and happiness, as well as the positive feelings we get from giving to charity or helping others. When we know that we are living to our full potential and are able to use our skills, talents, or assets to benefit others, we are satisfied that we have achieved success.
Corporate entities also have the capability of reaching this pinnacle of success. Although a corporation is certainly not human, it has an expectation to answer to our basic human needs, including TrustTransparency. Companies, large and small, are expected to be more than businesses—although they are non-human entities, they are charged with social responsibility and goodwill. The humanistic qualities under Maslow’s Self-Actualization needs can be exercised and implemented under a corporate umbrella. In today’s business climate, corporate citizenship is not an option for companies, but rather an expectation. The demand for corporate disclosure is growing rapidly from all sectors, including employees, investors, customers, vendors and suppliers, activists, and communities as a whole.
Self-actualization is more than philanthropy—something nice to do—it is critical to its bottom line. A study by Environics International even states one out of every five consumers base their purchasing decision on not only ethical conduct but also their level of social responsibility.
TOM’s Shoes has earned the public approval for its social responsibility program, entitled Giving Partners, which gives away a free pair of shoes to a child in need for every pair of shoes purchased. To date, they have given 75 million pairs of free shoes, as well as products and funds that improve health, sight, and education.
Social responsibility is not only exercised at a corporate level where a percentage of profits are donated toward worthwhile causes and missions, but some companies not only encourage their employees to be socially responsible, but they pay them to do it.
Pharmaceutical company Novo Nordisk has an impressive program that provides employees with 10 paid days off each year for volunteer purposes. Salesforce is a company that not only provides its employees with seven paid days off each year in order to volunteer, but they also give their employees a $1,000 grant to donate to any non-profit organization they wish. These are just two of many Fortune 100 companies that are named among the best companies to work, and they’re just the tip of the iceberg. Encouraging community involvement is being practiced by businesses large and small, and it’s not only improving lives but also paying dividends to the businesses as they reap the benefits of being stronger competitors in the labor market and experiencing reduced levels of employee turnover.
Excerpted from Scott's book, The ROI of Trust Transparency.
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