Overview
New York City’s strong recovery from the financial crisis has benefited many New Yorkers. The city’s poverty rate has fallen back below pre-crisis levels, median income is rising, employment is at a historic high. Nonetheless, a close look at the data reveals a troubling trend: in New York City, people’s economic opportunities continue to be strongly influenced by their race, gender and parents’ income.
Members of the Partnership for New York City are already devoting significant resources to addressing this issue, showing their dedication to strengthening the local community and to ensuring that business success benefits society. Employees are also placing increasing value on businesses’ commitments to society: 76% of millennials report considering a company’s social and environmental contributions when deciding where to work.
This document, produced with the help of Oliver Wyman, identifies areas where Partnership members can work together to expand educational and economic opportunities for all New York City residents.
$430M
was invested into CSR in New York City by 99 members in 2017.
82%
of companies express an interest in collaborating with other members to achieve CSR goals.
Report Highlights
Companies express significant interest in collaborating to improve their CSR programs. The Partnership will support cross-industry CSR initiatives in the following areas to improve access to opportunity in New York City, leveraging its unique position as a liaison between members and government.
Foundational Skills
Equipping every New York City student with the foundational skills needed to succeed later in life.
Workforce Readiness
Diversifying the talent pool and helping nontraditional candidates be prepared for jobs in today’s economy.
Entrepreneurship
Fostering innovation through entrepreneurship among underrepresented groups.
Key Takeaways
The Partnership will amplify members’ CSR efforts to:
Identify
Identify member CSR initiatives relating to the Partnership’s focus areas of foundational skills, workforce readiness and entrepreneurship.
Highlight
Highlight initiatives in communications with external stakeholders, with a focus on demonstrating the impact of CSR efforts to government officials and identifying opportunities for public-private partnerships.