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During the Covid-19 virus, many businesses took a hard look at how they do business and realized they needed to do more to attract and retain top talent, Forbes reports.
According to a report from the nonprofit Impact Investment Exchange, companies like Ford, Bank of America, and Infosys made changes to their cultures, hiring more women, offering more vacation time, and more.
But it wasn't just about changing the way they do business.
"The act of measuring their impact has to go beyond 'check boxes,' and the top-down ESG approach," IIX's founder,Durreen Shahnaz, says.
"They also need to embrace impact toolkits that measure the impact of their business across the wide spectrum of stakeholders from the bottom up."
For example, IIX has developed toolkits for companies to use to measure the impact their businesses are having on the communities in which they do business.
In the wake of the Covid-19 virus, companies need to " pivot their businesses so they're able to adapt and thrive in the new norm," Shahnaz says.
"The key for businesses to adapt to the new norm is to create a deep positive impact both inside and outside the company."
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Foundation: Susan Thompson Buffett Foundation, Gates Foundation
"For too long, a lack of money has forced organizations fighting for women's rights into a defensive posture while the enemies of progress play offense," writes Melinda French Gates in a New York...more
Foundation: Heinz Endowments, Richard King Mellon Foundation
Imagine a world where every child has access to high-quality, affordable education. That's the vision of a group called Remake Learning, which this month hosted the firstForge Futures summit in...more
Big Brothers Big Sisters of Central Ohio is using nearly $1 million in grants from Battelle to create after-school and summer programs focused on science, technology, engineering, and math for...more
If you're an engineer looking to make your mark in the tech world, Forbes has just the list for you. The magazine interviewed 11 engineering leaders, including James Dyson of vacuum company...more
Art, science, technology, conservation, and design are coming together in a new lab at MIT to address climate change in the Mediterranean region, the Boston Globe reports. Called the MIT-LUMA...more
The World Bank is calling for urgent action to help small island developing states (SIDS) deal with the effects of climate change as leaders from the nations meet in Antigua this week. The bank's...more
Fast fashion is here to stay, at least according to a new report from the European Commission, which notes that by 2050, the fashion industry is expected to be responsible for more than one-third of...more
The global impact investing market was valued at $478.15 billion in 2023, and is expected to reach $550.52 billion by 2024, at a compound annual growth rate (CAGR) of 15.1%, according to a new...more
A startup in the Czech Republic is hoping to change the way people think about energy. Delta Green, formerly known as Nano Green, says it has received $2.2 million in funding to expand into...more
Richard II is coming to the Asheville, NC, stage this summer. The Montford Park Players will perform the English king's rivalry with his successor, Henry IV, in the 2024 season, titled Muse of...more
Nonprofit Management News from...
Logan Healthcare Foundation
Ontario Trillium Foundation
Greater Manhattan Community Foundation
Gates Foundation
Stocker Foundation
North Texas Community Foundation
Tulsa Community Foundation
Cattaraugus Region Community Foundation
MacArthur Foundation
Community Foundation of Sarasota County
Gulf Coast Community Foundation
Social Entrepreneurship
Spotlight
Philanthropy as Key Enabler to Work on ‘Wicked Problems’
Australia’s Melbourne City Mission Chief Executive Officer Ric Holland writes how philanthropy can act as an enabler on many levels.
