Transforming lives with HOPE

by Santanu Ghoshal

With healthcare, occupational skills for employability, preservation of national heritage art & culture and empowerment of society at the core of all their work, the Schaeffler Group is committed to bringing about a positive change in the society while ensuring profits for all their shareholders.

Highlights:

  • Sustainability offers businesses a chance to build resilience and withstand volatile economic pressure.
  • It is important for sustainability and Corporate Social Responsibility (CSR) function to graduate from a ‘support function’ level, and become mainstream.
  • A Triple Bottom Line approach can help businesses manage the social, environmental and financial aspects of a business in a way that it creates better value.

In today’s competitive and uncertain world, when there is immense pressure on businesses to save costs and make their operations more efficient and agile, sustainability is the only potent tool available to them to build resilience and withstand volatile economic pressures.

According to a report published by United Nations Global Compact & Accenture Strategy,

94 per cent of CEOs say sustainability issues are important to the future success of their business.

Imbibing sustainability into the ethos of an organisation

With an astute focus on long-term growth, it is important to imbibe sustainability into the way we do business. To be future-proof, it is important for sustainability and Corporate Social Responsibility (CSR) function to graduate from a ‘support function’ level, and become mainstream. Culture is the backbone of every organisation. Without the right leadership, it is difficult to drive any kind of change within the organisation. For the right culture to flourish in an organisation, business leaders need to step up and embed sustainability into their daily routine and decisions. If there is any better or smarter way to run any operations, without much bleeding of our natural resources, the business leaders must explore and adopt the same. It is a leader’s futuristic vision that often defines an organisation’s success. Therefore, they must be careful enough to set the right example for others to emulate.

People, planet and profit: Adopting a holistic approach

The question that is looming large for modern businesses is – what is it that we can do to create long term business value for all the stakeholders. How can we achieve the perfect balance between our duties and responsibilities towards our people and planet, without impacting our profits?

Well, the solution lies in adopting a Triple Bottom Line approach to manage the social, environmental and financial aspects of a business in a way that it creates better value.

At Schaeffler, we understand that apart from profits, a successful business must focus on creating greater value for its stakeholders. Sustainability is thus a prerequisite for the company’s long-term success. Schaeffler has incorporated a comprehensive strategy in line with the UN Sustainability Development Goals to create better shareholder value. The organisation is committed to translating economic success into responsible prosperity for all stakeholders – business partners, employees and the society.

Project HOPE

With aspects like – Healthcare, Occupational Skills for Employability, Preservation of National Heritage Art & Culture and Empowerment of Society, as the cornerstones of its CSR strategy ‘HOPE’, the Schaeffler Group is committed to conducting responsible operations and positively touching the lives of the surrounding communities. Responsibility of a better tomorrow flows through HOPE.

HOPE is the philosophy of the organisation. It is a reflection of our will to bring the necessary change into our society so that each one of us leads a respectable life by looking after their professional and personal well-being. With the motto of “May everyone be happy” at its core, HOPE is Schaeffler India’s umbrella initiative encompassing the values, vision and mission of the organisation that is aimed at meaningful impact on the communities in which we operate. As responsible corporate citizens, we do work in our local societies for education and science, health and social issues, and sports and culture to ensure sustainable future growth.

At the organisational level, HOPE is the anchor through which we are continuously striving to build a work culture ready for tomorrow. Leadership at Schaeffler is based on transparency, trust, and teamwork. Our managers assume responsibility for decisions while also encouraging others to make decisions of their own. In our company, we follow the six leadership essentials that provide the framework for leaders across levels to nurture the right culture within the organisation:

  • Connect for success
  • Empower your team
  • Care for people
  • Manage for results
  • Drive the change
  • Take on responsibilit

The way forward

With the intent of fostering a culture of collaboration and co-creation, Schaeffler India is committed to empowering the lives of its people and surrounding communities. Through positive impact on the ecological, social and economic environment, the company is committed to achieving not just business excellence but also strengthen the overall shareholder value by ensuring business longevity.

Santanu Ghoshal is the Vice President of Human Resources at Schaeffler India.

About the Author: Santanu Ghoshal