Corporate Social Responsibility Is Here To Stay.
Are you familiar with this quote? It is more accurate today than ever. And, the concept is more important in today’s business climate than it has ever been.
We need government and business to work together for the benefit of everyone. It should no longer be just about typical “corporate social responsibility” where the “responsibility” bit is usually the realm of a small team buried in a basement office – now it should be about every single person in a business taking responsibility to make a difference in everything they do, at work and in their personal lives. Richard Branson
Corporate Social Responsibility (CSR), as well as environmental, social and corporate governance (ESG), may have begun in a basement office but has now evolved into a global movement. Companies have generally done very well promoting their philanthropic endeavors or charitable contributions. But it is almost a requirement now for companies – small and large – to commit to authentic responsibility efforts. How can you leverage your company’s CSR and ESG for long-term success?
Promote your company’s commitment to responsibility and lure the quality millennial talent.
The truth is, having a CSR policy can impact more than just your brand image. The workforce is comprised of millennials who are looking to align their talents with organizations which make significant contributions to the world. You can leverage your CSR efforts in recruiting the millennials. Promote your company’s commitment to responsibility and lure the quality millennial talent.
Being transparent about your company’s structure and policies can inspire trust and confidence in your customer base and increase loyalty.
Many do not often correlate social responsibility with direct ROI, but in many facets, it can have an impact. For many industries, implementing socially conscious processes can project long-term ROI. Attracting the right candidates to contribute to your company culture can reduce turnover and provide career-building platforms for the long run. Being transparent about your company’s structure and policies can inspire trust and confidence in your customer base and increase loyalty.
If your communities are healthy, so will be your future workforce.
Community contribution and participation show your organization’s willingness to invest in the markets in which you thrive. Companies are supporting their communities in multiple facets, including education, healthcare, and workforce development. If your communities are healthy, so will be your future workforce. All these commitments can directly affect your business’ ROI in the years to come.
Mr. Branson makes a great point that can be conversation prompting. The big picture here is learning that not only individuals look to make a positive impact, but companies also bear the responsibility of committing to a significant contribution to social responsibility. If we all, government, business and individuals alike, focused more on our social, economic, environment and charitable efforts, imagine how vibrant the world would be. How nice it is to be moving in that direction.