Five Insights from Social Innovation Summit 2022
Few things are more energizing than convening with hundreds of changemakers for a few days of inspiring discussions centered on social impact. That’s exactly what 18 Coffees experienced at Social Innovation Summit’s flagship conference, #SIS22, in Washington, D.C. this June, and it got our wheels turning about the future of innovation, purpose, and change. Now that we’ve had time to reflect, here are the top five trends we noticed during our time at #SIS22:
Purpose is crucial across sectors.
According to research from Carol Cone ON PURPOSE, The Harris Poll, Allison+Partners, and Headstand, 86% of employees believe having "meaning" in their work is more important to them than ever. Additionally, 84% of employees will only work at purpose-driven organizations, and recent data shared by PwC’s People & Organization Joint Global Leader Bhusan Sethi revealed that 65% of employees are having social impact conversations in the workplace. Purpose is no longer reserved for nonprofits — it’s taking center stage in public and private sectors, and organizations that don’t get on board will undoubtedly be left behind.
A heightened focus on ESG.
According to Blackbaud Vice President of Global Social Responsibility Rachel Hutchisson, “I don’t want anyone to say, ‘This isn’t for me. I don’t need to do this.’ Because the social responsibility that [ESG] is representing should be — and needs to be — for all of us.”
Though the “E” element may seem simpler to wrap our collective heads around, the “S” and the “G” likely have closer ties to our day-to-day responsibilities. Gallup CEO Jim Clifton noted during a session titled “Corporate Innovations in ESG” that the “S” in ESG is suddenly more important than anyone expected. A sole focus on sustainability is no longer enough to constitute success; topics like employee engagement; diversity, equity, and inclusion; and data privacy each contribute to overall ESG strategy and performance.
Hybrid work is here to stay…
While discussing employee perspectives on returning to the office, Gallup CEO Jim Clifton revealed that, and U.S. News & World Report Executive Chairman and CEO Eric Gertler had the numbers to back it up. Aaccording to Gallup research, 60% of full-time employees want a hybrid work model, while 10% want a complete return to the office, and 30% don’t ever want to go back again.
As leaders determine the best approach for their organization, Clifton cautioned CEOs not to misread the will of their employees. Hybrid work preferences themselves aren’t actually about the hybrid work schedule — they go back to individual flexibility, control over one’s time, and trust among teams. “The notion of the command control CEO is out the door — you have to think about individuals. As a CEO you have to learn from the past two years because it’s affecting everybody’s behavior.”
…but everyone still craves community and connection.
After two years of virtual conferences, the excitement to gather in person again was palpable. Each speaker was beaming, and the ability to come together in real life was a consistent topic of conversation while networking with fellow attendees.
Conversations around remote work in particular can’t be had without calling out this human need for connection. Remote employees may save on commuting hours but lose out on casual conversations, opportunities to assess body language, and the chance to build rapport with bosses and peers alike. Moving forward, it will be crucial for leaders to find strategic ways to foster connections amongst team members or risk a decrease in employee engagement.
Now is our opportunity to set the foundation for sweeping change.
Change is constant, but as we progress toward a post-COVID world, we have a unique opportunity to reshape the ways we do business to help build a more equitable society. With the cultural reset prompted by the pandemic and racial justice movements, we’ve been forced to ask ourselves questions like the ones posed by AARP’s Senior Vice President of Global Thought Leadership, Jean Accius: “When the United States and the world look five, 10, 15 years from now, what will we have accomplished? What would it look like if everyone had the opportunity to live to their full potential?”
As 18 Coffees co-founder Caleb Gardner explored in his breakout session, “Leading Through Change: Tackling Hard Issues with Pragmatic Optimism,” it’s crucial to focus on the challenges at hand while also keeping long-term visions in mind. Wayfair’s Head of Corporate Social Impact Todd Bowers seems to take a similar approach when it comes to the future. “I’m lucky enough to head up the “S” in the ESG at Wayfair. We have to convince our leadership that doing good is good for business, and being in it for the long haul is just like any business strategy. We need to think two, three, four, five years out.” This balanced focus across present and future time horizons is not only essential for team and organizational success, but it will have a direct effect on overall impact as well.
This year’s Social Innovation Summit left us inspired and full of renewed hope regarding the intersection of business and social impact. As 18 Coffees co-founder Caleb Gardner wrote, “Being surrounded by people who want to fix the world’s problems is a nice antidote to constantly reading about all the ways it is currently broken.” Whether it’s mapping ESG initiatives, determining a return-to-office strategy, or helping organizations innovate, we’re excited to work with purpose-driven clients to drive change. Let’s get started.
