CSR managers are accountable for determining and formulating strategies which strengthen a company’s CSR aims. They carry out research, come up with ideas, develop policies, create comprehensive plans and build relationships, says Dr Sanjiv Marwah
Corporate social responsibility (CSR) which is also known as corporate scruples, corporate citizenship, social functioning, or sustainable responsible business across the sphere, is a form of corporate self-regulation incorporated into a business model. Simply put, CSR is about incorporating, economic, environmental and social aims with a company’s operations and development. Many consider CSR as philanthropy, but that is an incomplete definition. An organisation can accomplish sustainable growth, if CSR becomes a fundamental part of its business process.
Business worldwide, have recognised, that it is essential to imbibe in their core strategic vision, the concept of not just financial returns and have added the important ingredient — social returns. Incorporating social returns is increasingly becoming the most sought after strategy, for sustaining competitive advantage. Organisations increasingly realise the importance of sustainability in their business operations and also in their long term strategies. Therefore they are hiring CSR professionals to approach business problems and seek solutions that draw from different disciplines within the organisation itself.
Scope
The Companies Act, 2013 makes it compulsory for Indian companies to deliberately spend two per cent of their profits on CSR activities. This has given a new boost to the field of CSR professionals. The new law mandates corporation with net worth of Rs 500 crore or more, or income of Rs 1,000 crore plus or net profit of Rs 5 crore or more during any financial year to establish a CSR committee of the board consisting of three or more directors, of what at least one directors shall be an independent director.
JOB PROSPECTS
Within business and Government, new employment opportunities for the professionals who are taught to translate corporate strategies into their CSR activities chances will be sought after. They can be a CSR / sustainability coordinators, directors and managers. Today these activities, in India are managed by different qualified managers, inexperienced in this field and are not specialists. There is a clear requirement for professionals who appreciate the dynamics of Government functioning, flagship curricula, economy models and social condition. Accepting Government functioning is particularly significant.
Companies need to work with the Government in many key areas linking health and education, even if they want to, they can’t just go to a slum and start some initiative. Mandatory CSR is likely to enhance the demand for professionals in this field by as much as 50 per cent in the upcoming years and the industry is likely to see at least 50,000 more job opportunities in the CSR sector.
Skills required
This is hard to elucidate due to the various roles and range of disciplines involved. Though the major skills necessary for successful CSR professional are:
Job Description
CSR managers are accountable for determining and formulating the strategies which strengthen a company’s CSR aims. They carry out research, come up with thoughts, develop policies, create comprehensive plans, build relationships with partner organisations and then apply and synchronise a range of actions and initiatives, which are intended to have a positive contact on the surroundings and local communities. A CSR manager’s profession also tends to engage prospects of marketing and promotion. Indeed, if one come into this line of work, they will perform as an internal and external spokesperson for your company’s CSR policies and projects. People are also accountable for arousing awareness of the company’s promise to CSR and generating publicity around their organisation’s humane endeavors. CSR managers are also liable for enrolling, handling and training junior staff members.
Eligibility
To enter into this profession, you will require an undergraduate degree in any discipline. However, studying an applicable subject, such as sociology, economics, international development, international studies, human rights, modern languages, marketing, PR, business studies, may boost your prospects of securing an entry-level position. Different types of course available at masters level and as part of MBA courses. The specialised courses like Master of Social Works (MSW) MBA in rural development and PG diploma in Rural development provided by different Institute and universities and may be right choice for career in CSR.
Salary and other perks
Starting salaries depend on principal qualifications, skills and experience. Entry-level corporate social responsibility officers tend to earn between Rs 5 lakh per annum, while a mid level professionals with a few years’ of experience can earn around Rs 15 lakh per annum. Senior CSR managers can earn annual salaries of anywhere between Rs 40 to Rs 60 lakh. It can go up to Rs 1 crore for CEOs. CSR teams tend to be quite small, so if you work hard and have plenty of aspiration, you can advance quite quickly.
The writer is director of Era Business School