How do you research and benchmark your corporate social responsibility?

1 Identify your CSR goals and priorities

The first step is to define what CSR means for your business and what issues and opportunities are most relevant and material to your industry, customers, employees, and partners. You can use frameworks such as the UN Global Compact, the ISO 26000, or the Global Reporting Initiative to guide your CSR strategy and reporting. You can also consult your stakeholders and conduct a materiality analysis to identify their expectations and concerns.

2 Assess your current CSR performance and impact

The next step is to evaluate how well you are meeting your CSR goals and what impact you are having on the social and environmental issues that matter to you and your stakeholders. You can use indicators and metrics such as the B Impact Assessment, the Social Return on Investment, or the Carbon Footprint to quantify and communicate your CSR performance and impact. You can also collect feedback and testimonials from your stakeholders to capture their perceptions and experiences.

3 Compare your CSR performance and impact with others

The third step is to benchmark your CSR performance and impact against your competitors, peers, or best practices in your industry or sector. You can use sources such as the Dow Jones Sustainability Index, the CSRHub, or the CSRwire to access data and information on other businesses' CSR activities and achievements. You can also join networks and associations such as the Business for Social Responsibility, the World Business Council for Sustainable Development, or the Corporate Responsibility Association to learn from and collaborate with other CSR leaders and practitioners.

4 Identify your CSR strengths and weaknesses

The fourth step is to analyze your CSR performance and impact data and information and identify your strengths and weaknesses. You can use tools such as the SWOT analysis, the Gap analysis, or the Balanced Scorecard to assess your internal and external factors that affect your CSR performance and impact. You can also use frameworks such as the SMART criteria, the Theory of Change, or the Logic Model to set realistic and measurable CSR objectives and outcomes.

5 Develop and implement your CSR action plan

The final step is to develop and implement your CSR action plan based on your strengths and weaknesses, your objectives and outcomes, and your stakeholder expectations and concerns. You can use methods such as the PDCA cycle, the Project Management Body of Knowledge, or the Agile approach to plan, execute, monitor, and evaluate your CSR action plan. You can also use channels such as your website, your social media, or your annual report to communicate your CSR action plan and progress to your stakeholders and the public.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?