While stories of environmental disaster s, dangerous working conditions, and bad fiscal mismanagement grab the spotlight, companies with a reputation for doing good in the world see a tangible upside of their efforts among customers, employees, and investors.
Corporate Social Responsibility
It may not seem that an organization’s CSR (Corporate Social Responsibility) reputation figures highly into most purchasing decisions. Surprisingly, though, a survey conducted by Reputation Institute and reported on in Forbes.com, shows that, “…willingness to buy, recommend, work for, and invest in a company is driven 60% by [one’s] perceptions of the company—or it’s reputation, and only 40% by … perceptions of the products or services it sells.”
This is great news!
Having CSR well-integrated into your organization’s culture is a proactive step that is a huge WIN on many levels.
1. For your employees
- Not only allowing but actually encouraging employees to volunteer improves staff morale. The benefits of volunteering in terms of individual esteem, empowerment, attitude and even health, are well documented. People who feel good about themselves and their contributions bring those positive vibes to work.
- Volunteering gives staff members a chance to develop new skills. Outside of work, people have opportunities to learn technical or management skills they may not currently be using on the job. Working with a variety of people in different situations also develops strong interpersonal skills.
- Companies who participate in group projects foster teamwork and camaraderie. Volunteering together creates opportunities for staff to assume different roles and work with co-workers from other areas of the company-which broadens participants' perspectives on themselves and others.
2. For the community
- Contributing positively to the local community generates goodwill, enhances relationships with community leaders, and creates positive impressions of your company among potential employees, customers, suppliers, and colleagues
- CSR helps maintain a thriving local economy that in turn supports the companies doing business there.
3. For your investors
- CSR is a legitimate consideration for potential investors. Having a proven track record of success makes your company a more attractive investment.
4. For your business
- In addition to all the benefits mentioned above, businesses with a strong CSR reputation generate good press, which leads to favorable customer awareness, word-of-mouth recommendations, and ultimately higher sales and lower marketing costs.
Bad news is everywhere…So why not generate a bit of good news? You will be rewarded many times over.
Check out this article on Brandix, a company defining local and global CSR in an industry famous for well-deserved negative publicity.