Skillsoft Research Reveals Organizations Struggling to Balance CSR Core Values With External Pressures

Skillsoft (NYSE: SKIL), a leading platform for transformative learning experiences, today released findings from its latest Corporate Social Responsibility (CSR) at Work Report. The study reveals that only 13% of surveyed working professionals say their organizations’ CSR commitments are driven by “doing the right thing,” a significant drop from 40% who said the same last year. Instead, as altruism of the past gives way to external pressures, half of respondents shared that corporate CSR efforts are now primarily driven by customer feedback, government mandates, and public perception.

Motivation aside, organizations and executive leaders are making CSR a greater priority. Two-thirds of respondents say CSR has become more important since last year and the largest portion said efforts are now being driven by the C-Suite, a shift from last year's findings that showed managers leading the charge. Under C-Suite leadership, 55% of respondents also reported CSR budgets increasing for the second consecutive year, with training and education emerging as the top area of investment (41%). When asked about the top three benefits of CSR investment, respondents cited improved brand recognition, business reputation, and sales and customer loyalty, respectively.

“CSR has the potential to drive positive change for the world, but it must stem from genuine, meaningful action. When executed correctly, CSR programs effectively balance purpose, product, and profit to create shared value for all stakeholders - customers, investors, and society at large,” said Michelle Boockoff-Bajdek, Chief Marketing and Sustainability Officer, Skillsoft. “Consistent training coupled with full company support will ensure these initiatives are ingrained in every facet of the organization – from sales to operations and finance, and everywhere in between. Whether organizations are just starting or have been on their CSR journey for years, authenticity and education are key and must be interwoven into all aspects of the business.”

For the second consecutive year, Skillsoft’s report revealed that the top three CSR program priorities are diversity, equity, and inclusion (DEI), improving labor policies, and participating in fair trade, respectively. As laws around the world call for better business practices, CSR programs must match those efforts to be competitive among peers, earn trust and loyalty among customers, and retain and attract talent.