WHAT IS CORPORATE SOCIAL RESPONSIBILITY?
Corporate social responsibility (CSR) refers to business practices involving initiatives that benefit society. A business’s CSR can encompass a wide variety of tactics, from giving away a portion of a company’s proceeds to charity, to implementing “greener” business operations.
There are a few broad categories of social responsibility that many of today’s businesses are practicing:
1) Environmental efforts: One primary focus of corporate social responsibility is the environment. Businesses regardless of size have a large carbon footprint. Any steps they can take to reduce those footprints are considered both good for the company and society as a whole.
2) Philanthropy: Businesses also practice social responsibility by donating to national and local charities. Businesses have a lot of resources that can benefit charities and local community programmes.
3) Ethical labor practices: By treating employees fairly and ethically, companies can also demonstrate their corporate social responsibility. This is especially true of businesses that operate in international locations with employment laws that differ from those in the UK.
4) Volunteering: Attending volunteer events says a lot about a company’s sincerity. By doing good deeds without expecting anything in return, companies are able to express their concern for specific issues and support for certain organisations.
Does the company you work for have a Corporate Social Responsibility (CSR) Policy, which defines areas of concern and initiatives to improve relations with the people and environments affected by business operations. CSR policies often dictate a system for monitoring responsible performance.
If the answer is yes then why not use any designated days and/or resources to helping your children’s school. There are lots of different ways you can get involved and you will be being paid to do so.
Get in touch with your employers to see if they have a CSR Policy in place and if so ask how you can benefit from it. If they don’t then encourage them to create and implement one.
If you have some days and/or resources and you’d like to get involved then please contact Jo Byrne on 07814 578718 or email us.
Consumers increasingly don’t accept unethical business practices or organisations who act irresponsibly. Advances in social media (giving everyone a voice) mean that negative or destructive practices quickly fuel conversations online. Organisations are accountable for their actions like never before.
The Business Benefits of CSR
CSR should not be viewed as a drain on resources, because carefully implemented CSR policies can help your oragnisation:
Win new business
Increase customer retention
Develop and enhance relationships with customers, suppliers and networks
Attract, retain and maintain a happy workforce and be an Employer of Choice
Save money on energy and operating costs and manage risk
Differentiate yourself from your competitors
Generate innovation and learning and enhance your influence
Improve your business reputation and standing
Provide access to investment and funding opportunities
Generate positive publicity and media opportunities due to media interest in ethical business activities
As an employer there are lots of different ways you can implement elements of your CSR Policy that would benefit Leonard Stanley Primary School:
• Match funding
• In-kind support – time, resources, assets
“Contrary to common misconception, CSR is so much more than cheque giving. Our programme is about local engagement, relationship building and sustainable business activities. The cost of our programme is negligible compared to the business benefits we have experienced in the last six months. I would urge others to gain competitive advantage and look at their CSR now rather than later.”
Mike Freely, Managing Director Octink
Almost half of workers in the UK said they were more likely to stay with an employer that allows its workforce to donate time or raise money for charities during working hours.
More than one 10 employees said they would take a “significant” pay cut to work for a company that encouraged charity activities among staff, the survey of 1,007 employees found.
Malcolm Scovil, chief executive of employee engagement consultancy LeapCR, which conducted the survey, said: “The reality is that the UK workforce passionately cares about corporate social responsibility (CSR) and expects their employer to share that commitment.
“If employers fail to meet these expectations, either through a lack of CSR initiatives or a failure to communicate what they are doing to their staff, then they will find themselves struggling to remain competitive.”
The research also suggested that allowing staff time off to get involved in local projects would increase productivity. Mr Scovil claimed that just a 1pc increase in productivity in the services industry would result in UK GDP growing by £17bn.
If you would like your company and/or it’s employees to get involved then please contact Jo Byrne on 07814 578718 or email us.