59% of CEOs report their company is able to accurately quantify the business value of sustainability initiatives
Enhance Your Human Capital Strategy
Refugees bring a variety of skills and experience to the US workforce to address talent gaps in your company’s human capital strategy. In fact, refugees in the U.S. are more likely to have a bachelor’s degree than U.S. citizens themselves.
Training a refugee professional with existing experience can reduce cost, take a fraction of the time, and allow businesses to immediately tap into the skills of a seasoned and experienced hire in comparison to training someone new.
Incorporating refugees into your business’ human capital strategy will increase the diversity of your workforce, and thereby incorporate diverse backgrounds, skills, and ideas into your company’s core business. A 2015 study demonstrated that businesses with the most ethnically leadership are 35% more likely than businesses with less diverse leadership to have financial returns that outpace their industry.
Moreover, corporate commitments to social issues can have a direct benefit employee engagement. 70% of millennials are said to consider a business’ commitment to the community in their decision to work for a given company.
Drive Revenue Growth
Supporting the refugee community is good business. A recent Tent Foundation study on the economic dividends of investment in refugees showed that public investment of €1 in a refugee, will yield a return of nearly €2 in GDP growth within 5 years.
By engaging in innovative, integrated partnerships in new markets, companies gain access to new customers, new products, and added use of existing products that lead the way to profit growth.
In addition to helping companies differentiate themselves in an already crowded marketplace, engaging in partnerships addressing global challenges also inspires innovation within corporations, thereby contributing to longer-term competitive immunity and business sustainability.
Those businesses that have started to view sustainable development as corporate opportunities for new business and sustainability, rather than just social responsibility, have been able to unlock both social and business value from their investments.
Consumers are increasingly informed about the businesses they engage with. A recent study found that today’s consumers expect more from their purchases than just the acquisition of products and services – and that their expectations of businesses are currently not being met.
By supporting the refugee community, companies build brand awareness, strength, and equity, and ultimately, enhance brand value among existing and future customers.
Engagement in social innovation can unlock a source of competitive advantage as consumers seek reputable brands that can develop strong associations to an impactful cause.