Aetna, CVS Health Earn Place Among 50 Civic-Minded Companies

Hartford-based Aetna and Rhode Island-based CVS Health, with their merger plans currently under review at the state and federal levels, have both been named to The Civic 50 for 2018, reflecting their community-minded programs and policies.  They are among the public and private companies with U.S. operations and revenues of $1 billion or more, selected based on four dimensions of their U.S. community engagement program.  Both companies also reached the list of 50 in 2017. The Civic 50 survey, produced annually since 2011 for Points of Light, has provided “a national standard for superior corporate citizenship and showcased how companies can use their time, skills and other resources to improve the quality of life in the communities where they do business,” according to Points of Light.

The survey analysis is administered for the Points of Light Foundation by True Impact, a company specializing in helping organizations maximize and measure their social and business value, and analyzed by VeraWorks. The survey instrument consists of quantitative and multiple-choice questions that inform the Civic 50 scoring process. It is the only survey and ranking system that exclusively measures corporate involvement in communities.

Among findings highlighted in the latest annual report:

  • Civic 50 companies are evolving from being supporters to engaging as stewards of social causes. Instead of confining themselves to writing checks or piggybacking off of nonprofit work, Civic 50 companies are involving themselves in all aspects of social causes which they champion. In 2018, 70 percent of Civic 50 companies took national leadership positions on four or more public education or policy efforts, an increase from 62 percent in 2017.
  • Civic 50 honorees continue to exemplify one of the core tenets of corporate citizenship: "doing well by doing good". The 2018 honorees demonstrate that integrating community engagement initiatives into business strategy can support business interests. The 2018 honorees are using community engagement to drive key business functions, including employee engagement (86 percent), marketing/PR (78 percent), diversity and inclusion (74 percent), skill development (74 percent) and stakeholder relations (56 percent)
  • Leading innovations for purpose at work, Civic 50 honorees have found community engagement as a meaningful and valuable investment to inspire employee changemakers and create a strong culture of giving back. 68 percent of Civic 50 companies include community engagement as a formal component of employees' performance reviews, an increase from 62 percent in 2017.
  • Civic 50 companies understand the importance of impact: to ensure the sustainability and success of their community engagement initiatives, Civic 50 companies are using measurement practices to not only measure quantifiable outputs, but social outcomes. Civic 50 companies are making sure to measure social outcomes as part of regularly implemented data collection. In 2018, 68 percent of Civic 50 companies collected and analyzed data on organizational grants and 42 percent did so for volunteerism.

Among the other companies included in the Civic 50 are KeyBank, Marriott International, Wells Fargo, UPS, Prudential Financial, and Comcast NBC Universal.

In its Corporate Social Responsibility Report, Aetna noted that as the company “pursues its goal of building healthier communities, we view social responsibility as a critical driver of success and an integral part of how we conduct our business.”

The report notes that “three quarters of Aetna employees are women, a third are people of color, 11 percent self-identify as LGBT and nearly 5 percent self-identify as having a disability.  Additionally, millennials comprise 31 percent of Aetna’s employees, which was a key driver of our new program to provide up to $10,000 to qualified recent college graduates to help them repay education loans.”

CVS Health, in the company’s social responsibility report, shares that their work “is rooted in our company’s values:  innovation, collaboration, caring, integrity and accountability.”  Three pillars – Health in Action, Planet in Balance and Leader in Growth – make up the company’s Prescription for a Better World, which provide the framework for the CVS Health strategy in corporate responsibility.

The four-dimension criteria used in assessing companies include:

  • Investment: How extensively and strategically does the company apply its resources to community engagement in the United States, including employee time and skills, cash, in-kind giving and leadership?
  • IntegrationHow does the company integrate their U.S. community engagement programs into key business functions, including employee engagement, marketing/PR, diversity and inclusion, recruiting, stakeholder relations and skill-development?
  • InstitutionalizationHow does the company support community engagement in the United States through organizational policies, systems and incentives?
  • ImpactHow does the company measure the social and business impact of their U.S. community engagement program?

Points of Light is the world’s largest organization dedicated to volunteer service.  It grew from the vision of 1,000 points of light shared by founder President George H. W. Bush in his 1989 inaugural address. The Points of Light Corporate Institute is a leading resource for community-minded companies looking to build and expand effective employee volunteer programs.