SIDF tends to create a alcove for itself through its extensive work in the corporate social responsibility arena. It has been helping corporations as well as civil society organization (CSOs) engage in value based CSR initiatives by aligning the objectives of corporations with their social objectives.
It is heartening to observe a growing corporate awareness towards insertion and contribution to development through intervention in a wide range of areas impacting societal and economic development. In implementing the CSR activities the Corporate often take the help of voluntary organizations as these organizations are direct representatives of the communities they serve.
Moreover, the voluntary sectors need the support of adequate and constant flow of resources for their interventions, to be implemented on a sustainable basis. The effort has been made to build up and to strengthen the partnership between the Corporate and the voluntary organizations so that they can merge together in bringing the inclusive growth for the country.
CSR Impact Assessment
It’s very important to monitor and assess the impact of the CSR initiatives to make it sustainable. A transparent Monitoring Committee can be formed for any CSR initiative being taken that ensures that implementation of the project is flawless and if there is any flaw, it is reported instantly. Routine reviews are undertaken by the CSR Monitoring Committee. It also collates feedback from the community and pay surprise Visits to ensure that the Implementation is sound and is going in the right direction.
CSR Impact Assessment is one of the most crucial aspects of any Project being implemented. It should be planned thoroughly and carried out robustly. All the Stakeholders must also be consulted to take their feedback. All the Departments involved in the initiative must be coordinated with and should be documented impeccably so that the Implementation Team is aware if what they are doing is suitable for the user or not. The assessment must be concurrent so that the required changes can be brought in periodically.
Companies should look into conducting 3rd party CSR Impact Assessment and evaluation of their CSR initiatives focussing on impact creation through Companies’ initiatives. This is not the same as audit, where only it is checked that the money has been spent rightfully. In fact, being an Independent body, being unbiased, it keeps a check not only on the Company’s expenditure but also the Implementation Team for their Actions on ground to provide them with the Impact Report and appropriate feedback to improvise.
Focus has to be Impact Creation as that is going to make a Difference. In fact, Companies should be evaluated and ranked on the basis of the Impact they create rather than the size of funds they are investing into CSR.