Why It’s a Great Time to Improve Your Corporate Social Responsibility Reputation.
This a guest post by the wonderful Lucy Rose. Thank you Lucy for sharing this.
Around 94% of Gen-Z’ers feel that companies should address critical issues; 78% of people want businesses to address social issues, and over two-thirds of Americans are willing to pay more for sustainable products. These are just a few statistics that indicate the importance of corporate social responsibility (CSR), regardless of the size of a business. If you are a startup or a new company that seeks to make a real impact to your community and reap the benefits of a good corporate reputation, the following tips may be helpful when honing your strategy.
Defining Your Corporate Values
Before selecting a cause to support, it is important to define the values that are the pillar of your business and this can be done by analyzing both your company mission and the needs and wishes of your client base. That is, you may have started up a company to satisfy a need (for instance, financial or legal services) in your local community. This alone, however, will leave you with too wide a scope when it comes to selecting groups to support or incentives to promote. If you have a small business, you have the ideal setting in which to talk to clients and find out about needs in the local community you can help support through action, networking, and fundraising, and/or financial donations.
If you are dedicated to national or international sales, supporting larger goals may be of as much interest as community projects. If so, there are many causes (ranging from health to financial aid) that will resonate with a wide audience. One value customers strongly feel companies should uphold, is that of relying on ethically sourced materials and labor. Industries like fashion have built quite a poor reputation in recent years because many rely, for instance, on child labor. In fact, there is so much that the fashion industry can do for kids. Just a few positive actions they can carry out include sourcing child-free labor, connecting with reputable organizations to help fight child poverty, and hosting educational workshops about the ins and outs of child labor. In reality, any company that builds or manufactures items can source components responsibly and make their policy known to clients, to start a chain of ethical manufacture and purchasing.
Don’t Forget Your Employees
Your internal client is just as important as your external ones. Connecting with the local community may start with supporting causes that are meaningful to your employees. The key lies in connecting your business activity with concerns that resonate among various members of staff. For instance, if a staff member is keen on founding a charity such as a cancer hospice, local hospital or the like, there are many ways you can lend a hand.
In addition to helping organize a fundraising dinner, for instance, you might dedicate part of your activity to the organization concerned. Services can include producing merchandize, providing legal or financial advice, providing goods, and the like. Use your area of expertise to pay it forward since you will have a natural confidence and know-how required to set up an effective project or program. All these actions are wise investments, since CSR can help you avoid revenue losses of around 7%.
Corporate social responsibility is a necessity, not a luxury, in modern day business. Younger generations especially are putting their money where their mouths are, and indicating that they are no longer willing to back companies with a poor social reputation. When choosing causes to back, ensure you choose those that resonate with clients and employees. Try to help in ways your company is confident with, so you can make a bigger impact and even influence customer values in a positive way.
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