National Meet on CSR & HR

CSR spending of top 500 companies in the country is likely to surpass Rs 50,000 crore by March 2019: say experts at a 'National Meet on CSR and HR' held in Panjim, Goa

Panjim, Goa, February 26, 2019: Corporate Social Responsibility (CSR), a broad term used to describe a company's efforts to improve society in some way has come a long way since it mandated by Union Government by way of amending Companies Act in the year 2014.

According to experts who assembled at Hotel Taj Vivanta for one full day National Meet on CSR and HR organised by New Delhi based NGO, Greentech Foundation, the CSR spending is going to record a all time high.

According to them, CSR spending of top 500 companies in the country is likely to touch and even cross Rs 50,000 crore by March 2019.

Even the CSR compliance is also expected to improve significantly. The compliance is likely to go up anywhere in the range of 97 to 98 percent in the next one year or so, they shared.

Corporate Social Responsibility Act came into effect in April 2014. According to this, companies with a net worth of Rs 500 crore or more are mandated to give two percent of their net profits to charity.

CSR is not only just vital for the environment, society, and the world at large, but for company’s reputation as well commented RK Dubey, former Chairman of Canara Bank. CSR and HR are intertwined and go gother, he added.

People must share wealth with people who need it he said and added the examples of Bill Gates, Azim Premji, how they have been putting use of their personal wealth for the common good.

Don’t just do what you are told to do. Sometimes you have to do what needs to be done said Mahawar former Director of ONGC.

"Business has a responsibility beyond its basic responsibility to its shareholders; a responsibility to society from which it reaps profits" observed Kamleshwar Sharan, President and CEO of Greentech Foundation why has organised the meet.

"It is not good enough to do what is mandated by the law. It is corporates' responsibility to do good to the society”, Kamleshwar Sharan said in how welcome remarks.

"CSR boosts employee engagement, promotes individual philanthropy and ensures positive workplace environment and Improves company’s image" said the Chief Guest K.U Thankachen, Director of Rashtriya Chemicals and Fertilizers Ltd, a Govt of India

Many representatives of Public Sector Undertakings, Corporate Houses, CSR Experts, Professionals shared their Best Corporate Social Responsibility Examples. Some of these include: ICICI Foundation; Balasore Alloys; Mazagaon Dock Shipbuilding, NTPC, L&T, HPCL, Odisha Power Generation Corp, Amulya Mica and others.

TATA Rules the Heart of People commented a participant. If you donate a bottle of blood, not only you are given off for that day but you can also avail an extra leave within 7 days of donating the blood. This is a fringe benefit Tata offers to employees who volunteer, added another.

This is a growing trend now. It is called VTO-Volunteer Time Off added another participant Sneha.

Studies show giving employees volunteer opportunities as part of their jobs builds loyalty to company, added Vishaal.

TCC, gives employees two paid days or 16 hours off per year to volunteer in a community effort of their own choosing shared Kamaleshwar Sharan.

"It is important to follow your employee’s interests. Let employees lead the cause" said SD Maske, Executive Director, ONGC Ltd.

Photo finish CSR activities must be shunned. You are doing that because Govt mandated you to do it. Instead you do CSR activities passionately said SD Maske.

He gave examples of small time individuals at Marine Drive, Mumbai and elsewhere are doing Individual Social Responsibility, by parting 50 percent of their earnings, not because they are forced but because, they genuinely feel for it.

Selfless CSR is asli CSR informed SD Maske.

A panel discussion was held on “CSR a tool for HR Development & Conflict Resolution”, moderated by Mr. RK Dubey. Sanjiv M Trivedi from L & T; Vaishali from Godfrey Phillips; SD Maske from ONGC were the panelists.