Print this page Send this to a friend Previous page

Finance directors playing greater role in corporate responsibility.

Ref. PR-00746

A new report released by specialist finance and accounting recruitment firm Robert Half and the Institute of Chartered Accountants in England and Wales (ICAEW) reveals that senior level finance managers are playing a greater role in their firms' corporate responsibility activities than before.

The report, titled 'Corporate Responsibility and the Modern Business Leader' found that the increase in involvement by senior finance professionals is changing the corporate responsibility landscape.

Phil Sheridan, UK Managing Director of Robert Half, said: 'Corporate responsibility and its impact on business today is very much at the forefront of corporate and government agendas.  The role of the accounting and finance team in this agenda is becoming more significant and indeed beneficial as corporate responsibility becomes a part of day to day business life.'

Senior finance managers who participated in the roundtables were in agreement that, a growing philanthropic mindset amongst business leaders, customers and suppliers is prompting organisations to adopt formal corporate social  responsibility programmes.

Robin Fieth, Executive Director for Finance and Operations at the ICAEW said, 'Companies create value for their owners and are not there to act as charities or quasi-government organisations.  As society increasingly recognises the need for a world that is sustainable, consumers and shareholders will, in my view, attach a premium to those groups with the best corporate responsibility records.'

The report also found that there is a clear link between employee attraction and retention and corporate responsibility:

Employees expect the businesses they work for to adopt a like-minded approach to the environment, community welfare, sustainability, employee diversity and work/life balance.

Younger employees are more concerned with their employer's corporate responsibility activities than ever before.

Phil Sheridan continued: 'Todays employees want to work for socially responsible organisations and will hold their organisations to account if they do not deliver on this.  Companies which implement effective corporate responsibility practices enjoy very real and tangible business benefits in the form of enhanced employee morale, motivation and ultimately retention.'

The environment plays an important role for business leaders wanting to engage in meaningful corporate responsibility policies, according to finance executives. 

According to senior finance managers surveyed, manufacturing, building and utilities companies demonstrated a much more formal corporate responsibility approach around areas of health and safety and environmental issues.  Professional services firms, on the other hand, whilst acknowledging the same areas for concern, were more likely to formulate corporate responsibility policy around employee welfare, work-life balance, charitable contributions, reductions in carbon emissions and recycling.

Executives were of the overwhelming opinion that governments should provide the tools and guidance for corporations and industry to manage their corporate responsibility initiatives effectively, but allow businesses to manage their programmes with little or no interference from government.  The prospect of over legislation in the area was seen as potentially damaging, particularly in relation to small business where the burden of regulation could seriously impede business operations.
 

Contact Us

For further information please contact:

Michelle Whitman
Robert Half International
Tel : 020 7331 2222
Email : michelle.whitman@rhi.net