The corporate social responsibility funding in India is poised to grow to Rs 20,000 crore over the next three years. That is the estimate made by a new report that also says CSR funding has been growing at the rate of 9 percent a year.

With the philanthropic ecosystem becoming increasingly active over the last few years, there is a perceptible increase in size and nature of funding support in the sector, finds ‘Social Impact Multipliers Report’, which is billed as “India’s first holistic report that identifies and addresses the unique challenges and gaps in the social sector”.

The inferences have been drawn through a detailed analysis of perspectives from leaders, funders and ‘enabling organizations’ in the social sector, says the Indian School of Development Management (ISDM) which partnered with Sattva Consulting to carry out this rigorous qualitative empirical study to gather a deep understanding of the trends and current experiences of leaders in India’s social purpose organizations to meet the rising talent demand.
 
The report, launched in Mumbai on October 26, brings together insights and provides recommendations for funders, leaders of SPOs and key stakeholders in the social sector space on leadership development and talent management so as to enable social organizations and corporate foundations for larger transformative impact.

With 33 lakh non-profit institutions (NPIs) employing over 1.82 crore people, supported by contributions from funders, enabling organizations, the government, and businesses, India’s development sector is one of the largest and most active social economies in the world. It has a huge potential to become an aspiring and mainstream career option for India’s young leaders and managers.

Key highlights of the report:

• Evidence from 120 leaders and 30 CEOs on how they would look at essential competencies to become development leaders

• The report provides an analysis of competencies, skills, and knowledge areas that leaders deem important and those they actively seek to develop in order to lead effectively for the present and future.

• Hiring talent at senior levels is a constant challenge related to compensation, matching expectations, and access.

• Empowering leaders to take charge of their own development ushers in a sustained learning culture.

• Leadership talent is a fundamental requirement, and a challenge in the sector. Respondents are appreciative of ecosystem initiatives helping to increase the leadership talent pool including fellowships, immersive experiences, and, training and education programmes.

• A key area for leadership development is in being able to attract millennial talent and nurture them to be social impact leaders within organisations.

• Most of the challenges recorded by the study are related to garnering resources.

• Skills and competencies required to engage with the intersectionality.

• Hiring and transitioning organisational talent at senior levels as well as retention of this talent through building an organisation culture of integration and collaboration.