Fidelity Investments
Social Investment Strategy
When Fidelity Investments opened its first facility
in India, an IT development center in Bangalore, the company
readily understood its social responsibility to the underprivileged
population. It also realized that its long-term growth plans
in this highly competitive tech region depended on securing
top technical talent, whose loyalty would turn in part on
the company’s image as a contributor to their society.
With no previous experience in social investments in the country,
Fidelity turned to Jonathan Levine for initial groundwork
on the highly fragmented social sector in India, including
counsel on strategies for effectively leveraging
funding in support of its workforce development plans and
recommendations on prospective partner organizations.
From interviews with dozens of India-based social-sector
professionals and U.S.-based corporate philanthropy executives
working in India, and a survey of primary research studies
in the field, Jon’s analysis included the following
components:
- the historical context of philanthropy
in India;
- a dissection of the giving channels, structural tensions
and organizational challenges in the social
sector;
- benchmarking data on competitors’ programs
and spending levels in the Bangalore region, including
profiles on the social-investment activities of 14 companies;
- a breakdown of leading social needs and their relative
attention from corporate philanthropy;
- a briefing on cultural, political, legal and tax
issues;
- an overview of Indian employee involvement and volunteerism;
- and screened recommendations for prospective
partners, including intermediaries as well as direct
development NGOs, and local consulting and service organizations.
Based on the research, Jon’s recommendations covered
criteria for screening appropriate partners, established a
competitive target spending range, provided advice on various
aspects of program implementation, and identified
elements of local reputation-building beyond
philanthropic contribution necessary to meet its business
objectives in workforce development.
|
