Social impact awards go both ways: they reward those who do good and encourage others to do the same. By recognizing social and environmental leadership and innovation, these award-giving organizations do their part to build the fair, diverse and conscientious marketplace of the future.
There are many benefits to receiving a social or environmental impact award. In addition to the recognition gained from winning an award, doors are opened for exclusive networking opportunities (i.e. with past and fellow winners and award sponsors), you are more likely to win future awards, and your organization receives a reputation. Which will help it attract new customers. Some even come with nice cash prizes.
To qualify for an award for corporate social and environmental change, you’ll need to understand the nature of these awards—not to mention how to run your organization.
Social and Environmental Impact Award: Understanding Identity
While each award is unique, the areas of interest follow specific themes that change based on global concerns and climate. Overall, they recognize social and environmental leadership, impact and innovation.
Corporate awards often focus on the leaders of organizations who use their influence and connections to create unique partnerships and models for success. They are change makers who inspire others to do good.
Other awards give priority to companies that develop new, innovative products or business models that will solve a specific social or environmental need. A good example is the Boston College Corporate Citizenship Innovation Awards, which recognize companies for environmental innovation and innovative program design.
Others still emphasize social justice and community development. The two often go together, and corporate award winners show how creating fair opportunities to address inequalities makes a tangible impact in society – usually in an exemplary, scalable way.
Only certain Social Impact Awards will apply to your business. If your organization doesn’t focus on sustainability, climate change, or conservation, it doesn’t make sense for you to receive an environmental finance award.
However, it is becoming more common to see award-giving organizations integrating social and environmental criteria into award programs, so business owners should follow suit.
The Schwab Foundation for Social Entrepreneurship is a great example of this. While they have different award categories, they all seek consideration of the environmental impact of their activities in nominated organizations, governance that embraces diversity and inclusivity, and creativity in leveraging technology to maximize impact.
Building Social Responsibility Into Your Business Strategy
And so the nature of your organization, from its policies to how it conducts business, will always be considered when you’re in the running for a corporate responsibility award.
For example, to receive the Award for Environmental Impact or any other cutting edge impact award, you must have environmentally friendly business practices. You will want to work with other organizations and vendors that show the same commitment to the environment that you do. Simply put, don’t just do asanas. Apply your values ​​in everything you do.
You must also demonstrate a commitment to the well-being of your employees. Build diversity and inclusion into your policies and procedures. Participate in a healthy amount of employee recognition and consider your employees’ values ​​when building corporate responsibility programs and encouraging employee engagement – ​​for example, by matching charities and giving employees plenty of opportunities to volunteer in the community. By giving opportunity
A socially responsible body finds itself at the intersection of the above core values. Consider incorporating innovation, equity, impact and sustainability into your practices.
Consider thinking about influence campaigns that you can organize within your organization. Trophies and awards that recognize employees for volunteering hours, innovative ideas that reflect your organization’s social values, or that help implement programs will drive home the impact.
Navigating the Award Application and Selection Process
Finally, don’t forget all the paperwork and planning that goes into applying for an award.
Only certain awards are open to certain types of businesses. Some are for nonprofits only, some are for profit, and some are certified social enterprises. And some, like the Schwab Foundation for Social Entrepreneurship, recognize enterprises of all shapes and sizes. Don’t ignore eligibility and don’t waste time on an application that may not even be considered.
Be aware of enrollment deadlines and requirements. Many awards, including the Schwab Foundation Social Innovation Award, require you to be nominated by someone other than yourself. Give yourself enough time to reach out to vendors, community stakeholders and others who will consider nominating you for an award.
Try again whether you are selected or not. Maintain a socially responsible business culture by seeking feedback, making improvements and striving for continuous improvement.