5 ways Corporate Social Responsibility benefits everyone
February 5, 2016
From sustainability efforts to philanthropic commitments, volunteer days and beach clean-ups to helping to ease hunger within the local community, Corporate Social Responsibility (CSR) initiatives play a vital role in many corporations today.
In 2015, Crown celebrated its 50th anniversary with a “Golden Relay” of charitable events across the world. Over 50 offices and 2500 people took part, raising close to US$ 100,000 for local causes. It was an exciting year-long event as each office “handed the baton” to the next office. These events brought our people together, inspiring them and helping them work as teams for the greater good.
Here are five key ways that CSR can have a positive impact on your business:
CSR initiatives can bring people together, motivate them to accept new challenges and provide an opportunity to work as a team. Employee feedback indicates that it also makes them feel good about the company’s values.
Wins (and grows) business
Clients want to work with companies that are focused on doing good in the world through charitable efforts, environmental responsibility and sustainability programs. It builds social good will and inspires other companies, organizations and individuals.
Reduces staff turnover
CSR helps a company attract—and retain—great employees. Employees today want to work in companies that have a social conscience and provide opportunities for individuals to take “volunteer days” to donate time for their favorite causes.
Creates a more productive work environment
Employees see and encourage the best in one another when working on a CSR project. Addressing others’ needs can put the smaller day-to-day job conflicts in perspective. In global companies, CSR connects employees and helps them feel part of one worldwide family.
Companies can save by taking advantage of government-sponsored training programs and incentives. They can reduce overhead costs by investing and benefiting from energy-efficient infrastructure (facilities, vehicles, equipment) and by measuring, monitoring and thereby improving electricity and fuel efficiency.
Corporate social responsibility is not just about doing the right thing; putting CSR at the heart of a company makes it a healthier business, too.