Study from Civic Alliance: Companies Active in Getting Out the Vote Outperform the Market
LOS ANGELES--(BUSINESS WIRE)--Feb 8, 2022--
Today the Civic Alliance, a nonpartisan coalition of businesses founded by CAA Foundation and Democracy Works, in partnership with Meteorite, released new data that shows publicly-traded companies that were active in civic engagement in the 2020 elections and the crucial moments afterward significantly outperformed the market. Civic Alliance’s analysis found these companies were more profitable, grew faster, and were perceived as more valuable to investors than the overall S&P 500.
The findings are part of the newly released Corporate Civic Playbook, a first-of-its-kind resource that makes a timely, nonpartisan business case for companies to encourage civic participation at the start of a major election year. The playbook provides a comprehensive set of best practices and examples from leading brands that the business community can use to engage their employees and consumers in civic engagement, alongside clear tools to help companies become active players in strengthening democracy.
The Corporate Civic Playbook also includes the results of a survey of Civic Alliance member companies, detailing how they execute their civic engagement efforts. Highlights include:
- 94% of member companies provided employees time off to vote in 2020, and nearly all of those companies plan to do so again in 2022
- 92% of companies say their civic engagement is motivated by their corporate mission and values
- 65% of companies say their employees expect them to be active in civic engagement
“The 2020 election’s achievement of historic high voter turnout in the midst of a pandemic came about with the help of many of America’s most successful corporations recognizing the importance, and value, of participation in our civic life. As more companies look to engage, tools like the Corporate Civic Playbook provide a straightforward, non-partisan blueprint on how to involve employees, communities and customers in the crucial activities of voter engagement and ensuring every American has the ability to participate in our democracy,” said Ben Ginsberg, Co-Chair of the Election Official Legal Defense Network and known political and elections expert.
The Civic Alliance, whose 1,250 member companies include Microsoft, the NBA, Starbucks, and The Estée Lauder Companies, was created in 2020 to provide guidance and strategy to companies looking to strengthen our democracy in nonpartisan ways. Following an election that saw unprecedented corporate civic engagement – and record voter turnout – the Civic Alliance created the Corporate Civic Playbook to offer concrete tips for corporate civic engagement and proof of how it can enhance a company’s culture, business strategy, and bottom line.
Using case studies collected from brands including Levi Strauss & Co., MTV, Old Navy, Salesforce, Snap Inc., and Under Armour, the Corporate Civic Playbook provides in-depth analysis on what leading companies are doing to support democracy, why nonpartisan civic engagement is good for business, and how to engage in straightforward ways that resonate with employees, customers, and investors.
“Profit and purpose go hand-in-hand, and every business can be a platform for change,” said Marc Benioff, Chair and Co-CEO, Salesforce. “Salesforce is proud to be part of the Civic Alliance and contribute to this important Playbook, which will inspire more companies to help strengthen our democracy and create a fair, equal, and sustainable future for everyone.”
“At the Civic Alliance, the notion that an engaged democracy is good for business, and an engaged business community is good for democracy is fundamental to our work. The Corporate Civic Playbook proves that not only is this true, but that Civic Alliance members are leading the way,” said Natalie Tran, Executive Director of the CAA Foundation and Co-Founder of the Civic Alliance.
“Our hope is that more companies and business leaders will join in this work to engage in nonpartisan civic action that is authentic to them, and ultimately help to strengthen our democracy,” said Anjelica Smith, Program Director at Democracy Works and Partner of the Civic Alliance.
Companies can join Civic Alliance for free and create their own action plan using the Civic Playbook at https://www.civicalliance.com/.
ABOUT CIVIC ALLIANCE
The Civic Alliance is America’s premier nonpartisan coalition of businesses united by a commitment to our democracy, which we believe depends upon active participation in safe, accessible, and trusted elections. Founded by Democracy Works and the CAA Foundation, the Civic Alliance supports its member companies as they inspire their employees and consumers to engage in civic life and their communities.
To learn more about Civic Alliance and review a complete list of its member companies, visit: https://www.civicalliance.com.
About The Co-Founding Organizations:
ABOUT CAA FOUNDATION
The CAA Foundation was founded in 1995, born out of the agency’s desire to give back to communities and harness the power and reach of the entertainment industry to create positive social change by forging strategic partnerships, encouraging volunteerism, granting financial contributions, stimulating public awareness, and providing in-kind donations. The CAA Foundation has become a leader in the entertainment community on education, the environment, and health and social issues.
To learn more about CAA Foundation, visit: https://www.caa.com/foundation
ABOUT DEMOCRACY WORKS
Democracy Works is a nonpartisan nonprofit that builds technology to simplify and modernize the voting process. Through TurboVote, an online tool that helps voters register and request absentee ballots, the organization sends election reminders to over ten million voters. Democracy Works also helps millions of Americans find their election information through the Voting Information Project, helps track millions of ballots via Ballot Scout, adding confidence and transparency to the vote-by-mail process, and empowers voters to determine when and where they’ll vote through its tool How to Vote, a comprehensive, state-specific resource for voters nationwide. Through partnerships with corporations, colleges, and nonprofits, Democracy Works expands the reach of its tools and technology, and makes it easier for voters to get to the polls and participate in our democracy.
To learn more about Democracy Works, visit: https://www.democracy.works/
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SOURCE: Civic Alliance
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PUB: 02/08/2022 06:00 AM/DISC: 02/08/2022 06:02 AM