As many as 70 per cent of companies expressed an intention to increase their CSR spending in education and skilling in the next fiscal, a survey by TeamLease EdTech revealed. The survey conducted with over 100 companies from across India said the majority of these companies want to allocate funds towards imparting vocational skills to address the rising unemployability.
The survey indicates that companies are keen to dedicate funds towards imparting employability skills to school or college dropouts (22.8 per cent), women (20.4 per cent), and people with disabilities (18 per cent).
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The survey ‘Aligning education and skilling in the CSR agenda’ analyzed how India is spending their CSR funds within the education/skilling cohort, key challenges in the process and the future aspirations of organizations while aligning their CSR agenda.
As per the report, 95.83 per cent of companies direct their CSR funds towards education, vocational skilling, livelihood improvement, followed by 50 per cent for health, eradicating hunger, poverty and malnutrition, safe drinking water, and sanitation. Close to 45.83 per cent funds are also dedicated to initiatives that promote gender equality, women empowerment, old age homes, and reducing inequalities.
Organisations who divulge their funds into multiple arenas also dedicate a portion towards education. As many as 46 per cent of the respondents stated that they deploy more than 50 per cent of their funds towards skilling and education, the survey stated.
While the intention and efforts are quite strong, companies are confronted with many challenges, especially while implementing their CSR programmes including infrastructure, accessibility, and deployment.
Elaborating on this, Neeti Sharma, Co-Founder, and President, TeamLease EdTech, said, “Accessibility, infrastructure, deployment continues to be a concern for companies. 70 per cent companies mentioned that connecting the right candidates to the right opportunities is their major perplexity. Additionally, 42 per cent attributed to lack of infrastructure as a cause for distress. Even the pandemic hindered organic implementation of the CSR programs, especially reverse migration.”
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CSR programmes towards skilling and education are expected to continue in 2022. 85 per cent of companies have already revamped their CSR initiatives, aligned to COVID impact. Moreover, 80 per cent of companies have taken up special initiatives already to monitor and measure impact closely and 40 per cent are even spending more to analyse impact better.
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