Last Sunday I spent some time at a Ronald McDonald House. These houses act as a home away from home for families who have a seriously ill child undergoing treatment in a nearby hospital. The experience opened my eyes to how earnestly some organisations have been approaching the ‘Social’ in ESG, and not just recently.
McDonald’s funded the first Ronald McDonald House around 40 years ago and continues to support the charity today, but individual Ronald McDonald Houses need to cover their own operating expenses. Local McDonald’s restaurant owner/operators generously fund portions of the annual operating costs of the Houses, however most of the annual operating income comes from individual and other corporate donors.
As a business owner or manager, you probably have created a company Vision and Mission as part of your strategic planning process. (If you haven’t, contact me). Also being clear on your company Purpose will help you and your team focus on core activities and avoid being distracted by other things you could be branching into. As an example, my company purpose is to “help business leaders elevate their organisation through strategy, systems and leadership”.
Businesses choose how they will ‘give back’
And then there is a greater purpose – the ‘S’ in ESG. Organisations are choosing how they will contribute to society, how they will ‘give back’, and what charities or causes sit close to the company Values. You may choose to donate money, or you may donate you and your team’s time to support a local or a global initiative. And you will find that your employees are hungry to be part of a greater cause.
The choice of charities and causes is immense, so a great way to start is by understanding your social impact and your shared company values. There is potential to achieve more when company social policies are aligned and relevant to your day-to-day business. If you would like help to identify your company’s purpose, understand your social impact and set appropriate ESG policies contact me to discuss how.