Corporate Social Responsibility (CSR) is more than just a buzz word in business blogs and corporate boardrooms. CSR goes beyond compliance with laws and legislation. It inspires companies to hold themselves accountable for their actions.
What does it Mean to be a Socially Responsible Company?
Corporate social responsibility is when a company operates ethically and sustainably to manage its environmental and social impacts. This process means careful reflection on Human Rights, the community, environment, and the society in which the organization operates.
Social responsibility is an ethical framework for organizations to build their vision and mission statement. This framework suggests that an organization must act for the benefit of society. Socially responsible companies do not focus solely on making a profit, they focus on activities that benefit society.
Why is it Important to be Socially Responsible?
The 2017 Cone Communications/Ebiquity Global CSR study found that 87% of customers will purchase a product because a company advocates for an issue they support. It also found that 76% of customers will refuse to purchase products or services from a company that supports an issue opposing their views. The statistics tell us that consumers are increasingly aware of the importance of social responsibility and are actively seeking to do business with companies that operate ethically, sustainably, and with integrity.
Having a company-wide ethical code of conduct will help protect your company and your brand from damage. By becoming a company known for its charity, sustainability, and eco-friendliness, your company will increase your positive brand awareness and public image.
Installing high-efficiency toilets and light bulbs, simple yet sustainable practices, will save your company in overhead costs. Embracing CSR also helps you to stand out from your competitors; you are helping to build a reputation as a company that cares about more than just profits, one who is willing to go the extra mile for their customers, partners and employees.
Why Does your Employee want to Work for a Socially Responsible Company?
Employees want to work for a company that has a good public image. Top candidates will often research the company where they are applying. They are more likely to apply and interview with a company whose beliefs mirror their own.
Once hired, employees that are aware and proud of their company’s CSR policies are more likely to be engaged in their jobs and stay with their company longer than those who are not. By promoting things like volunteering, you show potential applicants and current employees that you encourage personal and professional growth. A CSR policy will help you to attract and retain top talent.
Corporate social responsibility is becoming more widespread in our daily lives. Companies who invest in a strong CSR plan will not only be supporting the environment; they will also improve the company’s reputation, lower costs and retain top talent. Create a mission that will help your company to be more responsible, charitable, accountable, and environmentally friendly.
Do you want to partner with a company that understands the importance of giving back? How about pairing with a company who understands that transparency and accountability need to be the standard operating procedure? Check out how Bill Gosling Outsourcing can support your business.