By the time Stangis joined the company in 2008, it had already begun its rise in the CSR firmament. A global manufacturer with net sales of $7.5 billion in fiscal 2009 and 20,000 employees, Campbell has a presence in 120 countries with such brands as V8, Pepperidge Farm, Goldfish crackers, and Prego and Pace sauces. sauces. Last year, it ranked second among American companies perceived by the U.S. public as the most socially responsible, according to the Corporate Social Responsibility Index of the Boston College Center for Corporate Citizenship and the Reputation Institute.
standards, most CFOs and investors do not find these metrics and indices to be particularly convincing or useful.
on “employee engagement,” reasoning that employees who are truly excited about their company will be more enthusiastic about volunteering for projects that improve their communities. “Our goal is 100% employee engagement,” said Stangis. To measure that, the Gallup Organization has surveyed Campbell employees every year since 2001.
and demonstrate their increased level of engagement,” said Stangis. “But more importantly, we can rigorously and quantitatively measure the improvement in reading literacy of the kids who come through the program. … You can’t expect your colleagues to become CSR experts,” he noted during his presentation. “A large part of my responsibility is translating, so they don’t have to become experts.”
of social and business forces directly affects the bottom line. He pointed to the company’s efforts to “continuously improve the health and wellness profile of our products” by reducing, as one example, the sodium levels in its soups. Despite “the tough economy in 2009, we grew our sales across several product lines by 10%, while delivering better food to consumers and better choices for their health.”
Reprinted from ASSET 2.0, the Investment Recovery Business Journal, Vol. 2, 2010