4 reasons your social impact programme needs education

Education is often mistakenly overlooked by businesses wishing to invest in social impact. For individuals, education is an important gateway to economic opportunity and better health; for businesses, it is key to a strong economy and a skilled workforce.

Here are four reasons why education should be a strategic part of your company’s CSR or social purpose programmes:

1. Consumers prioritise education

Our own research shows that 80% of British consumers prefer brands that are fast to act on social inequalities. Over 82% prioritise corporate investment in education, followed by mental health and sustainability — issues that can also be addressed through education.

The EVERFI from Blackbaud survey has also found that 87% of people believe businesses should support the development of wider skills that young people will need for the challenges life and work will throw at them.

2. Education can address skills shortages

UK businesses across industries are struggling with a shortage of skills in areas such as STEM and data science. By working with schools to deliver skills education to young people, business can make a difference in students’ lives and reap a more skilled workforce in the near future.

3. Education means better lives

Access to high-quality education tends to predict better outcomes later in life:

• A degree means, on average, double the salary by age 40 in the UK¹.
• People with higher levels of education live longer and healthier lives².
• A one-grade improvement in overall GCSE is associated with an increase of £8,500 in lifetime earnings³.

4. Schools are facing challenges

Many UK schools are dealing with budget deficit, with funding particularly insufficient for students with special educational needs and disabilities. Deficits are translating into fewer staff, less support for students, fewer curriculum-enriching activities, and larger class sizes. They need help, and businesses are well-positioned to provide it.

 

Organisations can support the younger generations by helping schools deliver high-quality education on curriculum topics and essential life skills. These are often accessible only to affluent pupils, who can pay for activities outside the classroom.

By partnering with EVERFI from Blackbaud, your organisation can provide students with evidence-based online courses at no cost to them or to their schools. We can help you reach students across the UK and deliver expertly designed content, sponsored by your brand. We can also facilitate school volunteering events for your employees, so they can share their expertise and career advice with young people.

We believe high-quality, engaging education should not be the exclusive preserve of people with money. Can your organisation do more for young people?

Sources:

1. ^{The IFS Deaton Review. (August 2022). Lack of progress on closing educational inequalities disadvantaging millions throughout life.}
2. ^{Raghupathi, V., and Raghupathi, W. (2020). The influence of education on health.}
3. ^{Department for Education. (June 2021). GCSE attainment and lifetime earnings.}