The Civic 50 will help translate good intentions into sound business practices for years to come.
By Jackie Norris, Executive Director, and Leah Stoltz, Civic 50 Fellow, Points of Light Corporate Institute
This is the final part of a seven-part blog series exploring the practices of winning companies in The Civic 50, an initiative by Points of Light and Bloomberg. The Civic 50 honors the 50 most community-minded companies in the nation each year as determined by an annual survey. The latest Civic 50 survey opened Tuesday, June 3, 2014, to all companies with revenue of $1 billion and over.
Today, we explore the new requirements for The Civic 50 survey and how companies will be scored.
We’re searching for America’s most community-minded companies of 2014 – could your company be one of them?
On Tuesday, June 3rd, Points of Light and Bloomberg LP released the third annual Civic 50 survey. The survey is now available to a broader corporate audience – all companies with revenue of $1 billion or more are invited to participate.
Launched in 2012, The Civic 50 honors the 50 most community-minded companies in the nation each year.
Over the past several weeks we’ve gained insight from several of the 2013 Civic 50 winners on how to make corporate civic engagement an integral part of their corporate cultures.
We saw how Morgan Stanley’s organizational commitment to communities impacted 61 different nonprofits with volunteer hours and donations. Apollo Education Group inspired us with their strategic investment of human capital to help underserved young adults through career exploration and fun, real-world experiences.
Then there was Aetna whose culture imbues civic engagement from the top down with volunteer programs impacting nonprofits their employees truly care about. FedEx discussed how it is about logistics, proving corporations can be a beacon of light during times of need by integrating core assets with volunteers on the ground.
Finally, we discussed how HP’s Living Progress framework exemplifies its long-term commitment to have a positive impact across its communities and to have the data to support that pledge. And, CSRwire followed up with a live Twitter chat with HP's Chris Librie for a more in-depth look at its commitment.
Now, the search for the 2014 Civic 50 is on. These companies will be selected based on four dimensions of their U.S. community engagement program:
- Investment: How extensively and strategically the company applies its resources – principally employee time and talents, cash, in-kind giving and leadership – to community engagement.
- Integration: How a company’s community engagement program supports business interests and integrates into business functions – in other words how it “does well by doing good.”
- Institutionalization: How the company supports community engagement through its institutional policies, systems and incentives.
- Impact: How a company measures the social and business impact and outcomes of its community engagement program.
Enhancements have been made to the 2014 survey based on feedback from prior year participants and from an academic panel of representatives from major universities including:
- Bea Boccalandro, Center for Public and Nonprofit Leadership, Georgetown University;
- Dr. Edward Freeman, Darden School of Business, University of Virginia;
- Dr. Ira Harkavy, The Wharton School, University of Pennsylvania;
- Dr. Pamela Harper, Marist College School of Business;
- Professor Peter Levine, Jonathan Tisch College of Citizenship and Public Service, Tufts University;
- Dr. Kelvyn Moore, Bentley University;
- Dr. Nicholas Pearce, Kellogg School of Management, Northwestern University;
- Dr. John Peloza, Gatton College of Business and Economics, University of Kentucky;
- Dean Alan Solomont, Jonathan Tisch College of Citizenship and Public Service, Tufts University
What's New for 2014
This year’s survey has been designed to be entirely quantitative and multiple-choice, which will standardize the scoring rubric and allow for better analysis opportunities for companies.
To calculate a corporation’s score, points are accrued in the following dimensions: Investment (1,000 points), Integration (1,000 points), Institutionalization (1,000 points) and Impact (1,000 points). Once scored, the top 50 companies will be recognized as The Civic 50 in alphabetical order.
The top five companies will also be ranked with their sector peers based on GICS classification. Once results have been announced, a report will be available for participating companies to see how they scored and ranked in comparison to other companies in their sector and overall in each dimension.
Benchmarking and sharing the best practices of community engagement offers participating companies a roadmap for using their time, skills and other resources to improve the quality of life in the communities where they do business. The Civic 50 will help translate good intentions into sound business practices for years to come.
We're also offering a technical assistance webinar on Wednesday, July 9, 3:00 - 4:00 p.m. ET. Click here to register or watch last week’s webinar. These presentations offer a great opportunity to talk with The Civic 50 team about the survey process.
The survey closes at 11:59 pm ET on August 15, 2014. Rankings will be announced late fall 2014.
Do YOU work for the most community-minded company in America?
For more information and to take the survey, visit Civic50.org. Got some feedback? Connect with us on Twitter @TheCivic50 or email Civic50@pointsoflight.org.