All Briefs

Total corporate giving has increased more than 15 percent over three years to a record $23.8 billion, as companies have become more generous. The growing economy and favorable tax cuts have left some companies with healthy cash reserves and many have promised to direct a portion to their communities.

For companies embarking on the practice of sustainability reporting it can be challenging to discern between the various reporting frameworks and guidelines. To ease this process, The Conference Board developed a table comparing some of the leading sustainability reporting frameworks.

Inflationary pressures will rise in the coming year even though we project the US economy to slow down in 2019. Rumors that the Philips Curve (low unemployment rate = faster inflation) is dead have been greatly exaggerated. A continuing tightening of the labor market and further demographic slowdown will result in higher producer prices and wages. The likelihood for above two percent inflation rate is higher in 2019 than at any other time in the past 25 years.

Until there is a strong line of sight between internal communication and business results, internal communication will continue to be seen primarily as a support function, not a management function. The internal and external communication functions may be converging, but both disciplines appear to remain distinct for now. However, tighter alignment between internal and external functions will improve reputation and brand.

Eighty-two percent of board members, business owners, and corporate executives say it's necessary for companies to advocate for or take a stand on environmental, social, and governance (ESG) issues, as employees and customers increasingly demand that companies become more vocal. A majority also believe that advocacy by CEOs will increase in the next 18 months, following in the footsteps of recognizable leaders whose brands have inspired blue chip companies to use their voices.

Too many events and experiential marketing campaigns are conducted without measurement designed into them and funded from the beginning, leading to misunderstanding of results. Budget for measurement doesn't have to be expensive, but it does need to be included, because leadership will also want to know the cost effectiveness of your results.

Data privacy regulations challenge the growth of virtual volunteer technologies, but companies that can navigate these challenges stand to improve employee engagement opportunities. At the World Volunteer Conference and Global Corporate Volunteer Council in Germany, companies discovered how technology can help them respond to the demands of their employees for meaningful volunteer engagements.

The recommendations in the NACD’s Blue Ribbon Commission report on board oversight of disruptive risks are relevant and should be considered a “must-read.” Unfortunately, what it doesn’t say as bluntly and strongly as it needs to say it is that the information many boards receive today from senior management isn’t what’s required to meet these new expectations.

For most businesses in China, including foreign firms, directly addressing the United Nations Sustainable Development Goals (SDGs) is unchartered territory. Many companies are still in the early stages of their sustainability journey in China, and existing programs often lack strategic intent or deep commitment. We see a tremendous opportunity for foreign firms to exploit areas of Chinese policy and SDG alignment to raise the impact and relevance of their sustainability programs in China.