Corporate social responsibility (CSR) is a critical aspect of doing business in India. But did you know that non-compliance with CSR regulations can result in significant penalties?
In recent years, India has enforced strict regulations that require companies to allocate a portion of their profits towards CSR initiatives. Failure to do so not only results in financial penalties but can also tarnish a company’s reputation and stakeholder trust.
At Right Dots, we understand the fine points of CSR in India, and we’re here to help you navigate these regulations. We specialize in creating tailored CSR programs that not only ensure compliance but also make a meaningful impact on society and the environment.
Don’t wait until penalties become a burden. Reach out to us today, and let’s work together to plan CSR programs that align with your business goals while contributing positively to the community. Your commitment to CSR can be a force for good, and we’re here to guide you every step of the way.
Dive into CSR strategy on our website at rightdots.org, or take the first step in your CSR journey by reaching out to us today!
Igniting CSR Impact – Let’s Paint the World Brighter!
Hey champions of change! At Right Dots, we’re all about making waves in the world of Corporate Social Responsibility (CSR). Today, let’s dive into the electrifying world of CSR Impact Assessment – where numbers meet the magic of positive transformation!
CSR isn’t a checkbox; it’s a universe of possibilities. Imagine a superhero, but for the business world – that’s CSR Impact Assessment! It’s not just about ticking boxes; it’s about measuring the thunderous impact your organization can create on this beautiful planet and its wonderful people!
Significance of CSR Impact Assessment
1. Transparency: It’s the spotlight on your CSR efforts, keeping stakeholders and the public informed.
2. Continuous Improvement: A compass for refining strategies and maximizing positive impact.
3. Strategic Alignment: Ensures your CSR initiatives align with your core values and business objectives.
4. Competitive Advantage: Sets you apart, attracting conscious investors and enhancing brand reputation.
CSR Impact Assessment – illuminating, refining, and propelling your CSR journey. Join the Revolution!
At Right Dots , we understand that one size doesn’t fit all. We tailor our CSR Impact Assessment methodologies to suit your company’s objectives, industry, and values. Our goal is to unlock the full potential of your CSR initiatives, transforming them into powerful agents of change.
In the pursuit of promoting healthcare inclusivity and accessibility, Right Dots, a prominent CSR consultancy, is excited to unveil a groundbreaking institution situated within the prestigious campus of the Indian Institute of Technology (IIT) Chennai—the National Center for Assistive Health (NCAH).
Championed by Ms. Vidhya Bhojan, Right Dots envisions a world where the fusion of technology and healthcare elevates lives. This vision was deeply reinforced during Ms. Vidhya Bhojan’s recent visit to NCAH at Indian Institute of Technology, Madras. The objective of this article is to illuminate the existence of this remarkable facility and extend an invitation to all individuals eager to comprehend and contribute to assistive health technologies.
The Mission of NCAH-Pioneering Healthcare Revolution:
The National Center for Assistive Health (NCAH) at IIT Chennai was established with a fundamental mission—to revolutionize healthcare for individuals with disabilities. This center adopts a multidisciplinary approach, incorporating research, development, and application of assistive technologies. These technologies encompass mobility aids, communication devices, sensory augmentation tools, and personalized healthcare solutions.
NCAH’s dedication to inclusive healthcare is a beacon of hope, nurturing collaboration and driving cutting-edge technologies to improve lives of individuals with disabilities.
NCAH- Fostering Progress and Compassion:
Equipped with state-of-the-art laboratories, a pool of brilliant minds, and a vibrant ecosystem conducive to research and development, NCAH stands as a testament to India’s dedication to embracing technological advancements for societal improvement. Beyond merely fostering technological progress, NCAH cultivates a culture of empathy and understanding, thus paving the way for a more inclusive and compassionate society.
The National Center for Assistive Health (NCAH) serves not only as a hub for technology-driven innovations but also as a platform for advocating the rights of individuals with disabilities. By blending technology and compassion, NCAH propels a transformative movement toward a more accessible world.
Joining Hands for a Brighter Future:
For those passionate about advancing assistive health, we invite you to tap into the expertise at the National Center for Assistive Health. Collaborate with organizations like Right Dots and leverage NCAH’s resources to shape a future with equitable access to healthcare, technology, and growth opportunities for all.
Let us unite and strive to create a world where the potential of every individual is unlocked and celebrated through the power of assistive health technologies. Together, we can make this vision a reality.
Unveiling the Facts🤝 Let’s dive into some enlightening facts about Corporate Social Responsibility (CSR) and its pivotal role in shaping a better world:
💡 What is CSR? CSR, or Corporate Social Responsibility, encapsulates a diverse array of actions that businesses can take to contribute to societal well-being. It’s about going beyond profits and making a difference in the lives of people and the planet.
💡 The Three Pillars of CSR The foundation of CSR rests upon three essential pillars: economic, social, and environmental responsibilities. These pillars guide businesses in aligning their strategies with broader societal needs.
💡 Meeting the Modern Demand As the world evolves, so do the expectations from businesses. Consumers and investors alike are calling for responsible corporate conduct. CSR isn’t just an option anymore – it’s a necessity to build trust and credibility.
💡 Engaging in CSR brings forth a multitude of advantages for businesses:
1. Enhanced Employee Engagement: Fostering a sense of purpose among employees and boosting workplace satisfaction. 2. Improved Financial Performance: CSR isn’t just a moral choice – it’s a wise financial investment. 3. Stronger Brand Reputation: Positive impact resonates, creating a brand that stands for something meaningful. 4. Increased Customer Loyalty: Conscious consumers rally behind businesses that make a difference.
Join us at Right Dots as we continue to weave these CSR principles into our core, fostering a future where businesses and society thrive in harmony. Together, let’s make every dot count for a brighter tomorrow 🌍
👉🏻Understanding how to calculate your CSR mandate is crucial for businesses to align their efforts with regulatory requirements and company values. Let’s explore the steps to navigate this journey:
1.Know Your Applicability: Determine if your company falls under the CSR mandate. Section 135 of the Companies Act, 2013, mandates CSR for certain companies meeting specific financial criteria.
2.Calculate Your CSR Budget: Allocate a minimum of 2% of your average net profits made during the preceding three financial years for CSR activities. This 2% law sets a benchmark for businesses to invest in social and environmental causes aligning with their values.
3.Define Your CSR Objectives: Identify the social and environmental issues that resonate with your company’s mission and values. Set specific and measurable CSR objectives to guide your initiatives effectively.
4.Conduct a Materiality Assessment: Conduct a materiality assessment to identify the most significant issues where your CSR efforts can create a lasting impact.
5.Allocate Resources Wisely: Allocate resources wisely to different initiatives, considering potential impact and alignment with your CSR objectives.
6.Set Clear KPIs: Set clear Key Performance Indicators (KPIs) to measure the success of your CSR initiatives and track progress effectively.
7.Engage and Collaborate: Engage employees, customers, suppliers, and local communities to actively participate in your CSR journey. Collaboration enhances the social value of your initiatives.
8.Monitor, Report, and Communicate: Regularly monitor your CSR activities, measure them against established KPIs, and communicate transparently to showcase progress.
9.Embrace Continuous Improvement: Continuously assess and improve your CSR initiatives to maximize their impact and create meaningful change.
📚 Making an Impact through CSR By adhering to the 2% law, companies can drive positive change in education, healthcare, environmental sustainability, poverty alleviation, and more.
🤝 Partnering with Right Dots For guidance on effective CSR strategies, Right Dots can support you. Let’s come together and embrace the power of CSR to shape a better future for everyone.
Passionate about leading-edge CSR advancements, Right Dots empowers positive impact through innovative strategies🌍
The latest trends in CSR are focused on Increased Transparency, Integrating Volunteering, Global Companies Acting Locally, and Embracing Diversity and Inclusion. Let us glance briefly,
🤝 Increased Transparency: We believe that transparency is the foundation of trust and accountability. Through our expert guidance, we help companies embrace transparency in their CSR initiatives, fostering meaningful connections with stakeholders.
🙌 Integrating Volunteering: Engaging employees in meaningful volunteer activities not only strengthens the workforce but also contributes to the betterment of communities. Right Dots provides innovative strategies to seamlessly integrate volunteering programs into your CSR framework.
🌍 Global Companies Acting Locally: We understand the significance of localizing CSR efforts while operating in a globalized world. Our tailored solutions enable multinational corporations to make a real difference at the local level, ensuring sustainable development.
🌈 Diversity and Inclusion: Embracing diversity and fostering an inclusive environment are paramount to a company’s success. We empowers organizations to implement diversity and inclusion initiatives that promote equality and unleash the potential of every individual.
Join us on our journey towards a brighter, more sustainable future. Together, let’s make a positive impact, one step at a time.
Great resignation impact being felt in India as attrition rate remains elevated at 20% in 2022 – Business insider
India has been giving double-digit salary hikes since the pandemic, as demand for skilled workers increased. Despite the hikes, the attrition rate still stands at 20.3%. In its latest Salary Increase Survey in India, data across 1,300 companies from more than 40 industries in the country was analyzed. The attrition rate in India is steadily rising, going up more than 7% within the last two years. The attrition rate is expected to remain in double-digits in 2023 as well.
To retain talent, experts suggest organizations hire for skills, allow flexible working and gig jobs and focus on revamping employee value proposition (EVP). And the larger workforce in this era is Generation Z. Generation Z is a designation for those born between 1996 and somewhere around 2012. This generation has been exposed to many issues at an early age, including terrorism, school violence and global conflict. From my perspective, all of this has taught them to be able to adapt more easily to situations, be more resilient and have more of an interest in social change.
According to research released by the British Heart Foundation, Gen Z is more likely to have volunteered than any other age group. Although members of Generation Z are careful with money, they are enthusiastic givers who are involved in social causes.
During the pandemic, 66% of Gen Z donated money to charity, family, or friends, far outpacing donations made by both Gen X and Boomers. – Galaxydigital.com
With this generation being highly social conscious, engaging them in social impact project through volunteering makes a huge impact. An article from Harward Business review that touched on the benefits of employee volunteering says,
“The benefits of well-designed corporate volunteer programs have been clearly established: They boost productivity, increase employee engagement, and improve hiring and retention, to name just a few. But too often, firms’ programs fall short.”
With Dec 5th being observed as International Volunteer Day, an international observance mandated by the UN General Assembly in 1985, how have you been invested in Employee volunteering and reaped its benefits to the organization? Here is our IMPACT Framework that helps to establish and implement a successful employee volunteering program for your organization.
IMPCAT Framework for Employee volunteering
Identify the interests of the employees / needs of the community
Map the volunteers against the identified needs
Pivot the actions around the needs and interests and spread out
Action on the ground
Communicate the impact internally and externally
Thank volunteers and partners on a regular frequency
The IMPACT Framework is a tested model that has been proving success for years now. The CSR leads/ Policy makers in the eco system should start looking at integrating employee volunteering into core CSR rather than an adhoc activity. Employee volunteering establishes a great bond between the employee and organization leading to stickiness to the organization. This invariably adds to the business benefit of the organization.
With great attrition being live and anticipated to be increasing in the upcoming year, leverage employee volunteering as a program to make the social impact leading to business impact.
As a closing note, employee volunteering is not only for corporates who meet CSR criteria, its for everyone to do and the benefits are deep, irrespective of your organizations size and scale. We have an Employee Volunteering score card designed to know your employee volunteering maturity of the organization, drop a note to contactus@rightdots.org ,We will be happy to work with you to enable and successfully integrate employee volunteering for your organization.
