Several years ago, I worked for a very diverse firm with employees from different parts of the world. This resembled the poster child of a diverse work environment but there was no inclusion. Employees never felt belonged and and management never cared because they were the least inclusive.
Nothing much has changed over the course of the last two decades. A McKinsey study “Diversity wins: How inclusion matters” states that while overall sentiment on diversity was 52 percent positive and 32 percent negative, sentiment on inclusion was lower with 61 percent negative and just 29 percent positive.
The study looked at data from 15 countries and more than 1,000 large companies and found that the business case for diversity remains strong but companies lag behind in inclusion.
Unless a culture shift happens, we will all be paying lip service to DEI and changing nothing.
India topped the list of countries where most corporate giving went from international businesses in 2012, according to a recent report by the Committee Encouraging Corporate Philanthropy (CECP). Among 60 large multinational companies that gave a total of $6.8 billion, nearly 70 percent earmarked a share of their corporate giving to India.
The study, authored by CECP’s Carmen Perez found that most large businesses chose to invest their funds in geographical neighbors and emerging markets. The study tracked giving according to three categories, namely direct cash, foundation cash and in-kind contributions. Total giving per company ranged from $450,000 to about $1.5 billion. The median total giving was $29.25 million.
Below are key points from the study that show trends in global corporate giving :
- Global corporate giving remains unevenly distributed. Some companies elected to give large contributions to a select few countries while the others received much less.
- A company’s strategic business needs dictate corporate giving, especially among multinationals investing in emerging markets.
- Corporate interests govern giving and funds typically flow into neighboring countries or to emerging markets.
- Emerging markets namely India, Brazil, China, Colombia, Indonesia, Malaysia and Mexico received larger charitable contributions in 2012, driven largely by robust economic growth.
- Businesses gave less in countries like Turkey and Venezuela citing instability and political turmoil.