Annual Civic 50 Honors Companies and Identifies Trends
NEWARK, N.J., June 28, 2016 - Prudential Financial, Inc. today announced it has been recognized as one of the most community-minded companies in the nation as a part of the Civic 50, an initiative of Points of Light that sets the standard for corporate civic engagement and creates a roadmap for companies seeking to best use their time, talent, and resources to improve the quality of life in the communities where they do business. Civic 50 winners were announced today at Points of Light’s Conference on Volunteering and Service in Detroit, Michigan, where leaders in volunteerism and civic engagement are gathering to discuss social innovation, cross-sector collaboration and citizen engagement that can drive change.
“Prudential was created to help ensure that everyone has the opportunity to attain financial security. This sense of purpose has driven our commitment to investing in communities and guides our belief that companies like ours can and should create lasting societal impact,” said Lata Reddy, vice president of corporate social responsibility at Prudential and president of The Prudential Foundation. “Being named one of America’s 50 most community-minded companies is a testament to the dedication of our employees and the spirit of innovation that we bring to help more people achieve their ambitions.”
“Since 2012, we have seen a notable shift in the results from the survey in a direction that speaks to the commitment of American companies to connect values of community service and civic engagement to the culture and operating practices of their business,” said Jennifer Lawson, Executive Director of the Corporate Institute at Points of Light.
This year’s Civic 50 applicants were evaluated and accrued points based on several criteria, including the quantity and impact of financial and human resources applied to civic improvement, whether internal and external resources are activated to maximize community impact, how a company’s community engagement activities support its business interests, how broadly community engagement is supported and institutionalized within a company’s policies, systems and incentives, and how a company measures the social and business value of its community engagement programs.
The Civic 50 survey was developed in partnership with a high-profile working group of researchers and industry thought leaders. Dozens of corporate advisors provided strategic guidance on the program’s objectives, including defining indicators, developing methodology, and identifying partners and participants. As a result of this collaborative process, the initiative reflects leading insight and thinking about how corporations can and should connect with communities in a twenty-first century economy.
The survey was administered by True Impact, a company specializing in helping organizations maximize and measure their social and business value. The survey instrument consists of quantitative and multiple-choice questions that inform the Civic 50 scoring process. The Civic 50 is the only survey and ranking system that exclusively measures corporate involvement in communities.
To learn more about the Civic 50, to see a full list of the winners and to access the full report, The 2016 Civic 50: Turning Good Intentions into Sound Business Practices, which presents the highlights, trends, benchmarking data and best practices from the 2016 Civic 50, please visit www.Civic50.org.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of March 31, 2016, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com.