Corporate Social Responsibility
Initiatives & Approach
Schaeffler India Limited, as a part of its CSR policy plans to consolidate its activities and focus exclusively on few core areas which will be meaningful for the region and where it can make some real impact.
- Health Care
- Occupational Skill for Employability
- Preservation of National Heritage Art & Culture
- Empowerment of Society
Our Innovative Approach to Development
CSR Policy of Schaeffler India Limited, envisions and directs its greater role transcending its business interest towards sustainable development of the society.
- Income generation and empowerment: Income generation and empowerment is one of the important factors contributing to nation building and hence in order to improve social condition and make them economically independent, several programmes are to be executed. Schaeffler India, CSR team is committed to enhance the social status of its stakeholders in its operational areas. We have been consistently working towards initiating programmes and regular mentoring for their overall socio-economic enhancement.
- Welfare, basic human need and sustainability: The basic features or characteristics of our projects is the focus on human welfare and basic needs. When the projects are handed over to the community after a lot of guidance and training, the project seems to be sustainable and well functioned and people seem to take the responsibility of sustaining the projects.
- Priorities in rural and remote areas for the poor and women: Another distinguishing feature of our project is that we work for the poor people living in remote and rural areas and who are unable to improve their living standards.
- Participatory planning: At Schaeffler India, we use participatory planning by which a community undertakes to reach a given socio-economic goal by consciously diagnosing its problems and charting a course of action to resolve those issues.
At the community level, we are working to develop an approach that aims to democratise planning and decision making. This is required for sustainable community development.
- Mass mobilisation and creating awareness: All plans and programs are based on the involvement of the total mass. This process of involving the masses is effective in getting the results as awareness programs are also launched side by side.
- People as an active and responsible agent of development: The local people get the feeling that they have to be involved in their programmes as they are the ones to get the maximum benefit out of it. Hence, they feel more responsible and act as an active actor of development.
Strategy & Methodology
For Schaeffler India, CSR is not an unreturned investment but rather a triple bottom line investment bringing positive outcomes and benefits to the company, community and the environment by managing CSR activities systematically and strategically.
- Focused CSR choices: Rather than going for activities scattered across the map, that’s not going to stay for long nor maximising the CSR benefits. The company has already identified its focus areas in order to truly co-create the value for the business and the society. Our aim is to find symmetry between the two sides and being open enough to understand issues both from a business and societal perspective.
- Finding the right partner: Partnering is crucial but when both the sides are like minded and see win-win potential, there is greater motivation to realise the substantial benefits.
We at Schaeffler India foster a sense of partnership with like minded stakeholders who undertake CSR activities with a sense of ownership as merely transferring funds or offering funds does not help.
- Implementing CSR with consistency and determination: Through our CSR initiatives, we always try to inculcate positive impact on societal issues in long term and continuous activity and not a quick fix project. Therein our initiatives are long term and procedural in nature with measurable commitments and actions.
- Engaging workforce and lead by example: We believe in engaging the workforce at the top by assigning project leaders for each separate initiative to make a personal commitment realising full potential of the activities undertaken.
- Evolution from corporate philanthropy towards value creation: For us at Schaeffler India, we believe in “Increasing Impact, Enhancing Value”. Corporate philanthropy is not only an expression of corporate values but an important instrument for value creation. We apply the same strategic principles the company uses in value creation, alignment and integration. Good practices of management like planning, return on investment (ROI), systematised approach etc. is incorporated in the CSR activities along with regular monitoring for attainment of project goals.