The philosophy around corporate social responsibility stems from a sincere desire for businesses to contribute to the health and well-being of the heartbeat of their operations – the community.
Research projects that at least 75% of all companies in the US have a desire to be leaders in both environmental and social issues, so what’s stopping them? Digging a little deeper, it becomes clearer that some managers feel that their hands are tied when it comes to resources and expertise.
A corporate social responsibility program may seem difficult to implement, and an effective strategy is often set aside due to numerous challenges like not knowing where to begin or even which causes to support. But, it’s not impossible. So, let’s explore some simple and practical reasons to get you started on your journey to productive social responsibility.
Planning and Control
The culture of giving back has taken the world by storm, and joining the revolution is not such a bad thing. Planning is a crucial element of a successful CSR program and involves mobilizing human resources, financial outlays, clear vision and mission definitions, and of course, the impact on your bottom line. You’ve already won half the battle with the availability of human resources at your disposal, and getting staff involved works as a cost-saving and morale-boosting tool.
CSR is not just about giving – it’s your brand reputation that’s on the line. The world has, without a doubt, become more authentic and humane, and putting your best foot forward means meeting current and potential clients on a level that they understand. Businesses with effective CSR programs stand out from the crowd, leading to improved client loyalty and trust.
Consumers are more likely to purchase or deal with brands that they can identify with, especially with brands that align their corporate values with their actions. Surveys have indicated that at least 85% of consumers will instead support businesses based purely on a company’s advocacy to social or environmental matters.
Your organization could be losing business without even being aware of it. However, a good CSR initiative puts you in the winning seat simply because excellent brand management equates to customer loyalty, ultimately increasing your profits. Apart from the potential opportunity of an increase in sales, CSR programs work a charm in driving employee engagement and satisfaction. And a happy workforce translates into increased productivity.
There is no one-size-fits-all model in the CSR arena, and what works for some may not work for others. However, business leaders generally have an excellent understanding of the organization’s vision and mission, and using these as the foundation for your CSR initiative simply builds on what is already there. Your business already is in a niche, but it’s how it fits into that niche that matters.
What role does your organization play in the industry? Does your local community have any specific needs that your industry can fill? How do you tie your core values and beliefs into fulfilling this need? CSR is more than something to fill a gap; it’s your brand’s way of showing that you care.
To get started with your CSR program, meet with a GivePulse Success Manager.