Using Corporate Social Responsibility to Build your Business
Engaging in corporate social responsibility is not only a way to do some good in the world, but it can also help build your business, because people want to know that your company is having a positive impact.
It’s no longer enough to be just another powerful corporate entity or successful local business. Money making machines, no matter how big or small, where employees are like cogs in a wheel are prevalent, to be sure, but things are changing. Consumers, young and old, want to know what your company is doing to give back to the people in their communities and around the world.
In 2019, the trend towards corporate social responsibility is greater than it has ever been. Businesses are making pointed efforts to help others and it is making them stand out. Zappos is donating shoes to those in need. Bombas makes comfortable socks and for every pair purchased they donate a pair to homeless shelters. IBM has a series of programs to further tech education for students and they also have training programs for returning veterans.
Csrwire.com did some interesting research among Millennials in support of corporate social responsibility. They found that 80% of people in the study said they are more likely to choose a company to do business with that supports a cause they also care about.
Think about it this way: regardless of what generation is making a purchasing decision, most people are willing to pay a little more to do business with a company which makes a significant contribution to society.
Corporate social responsibility can take many forms like donations to charities both local and abroad, a dedication to clean energy, volunteering time to nonprofits, sponsorship of different initiatives or events. The possibilities are endless. Companies who engage in activities like these and let it be known are often able to create positive public perception and use it as a way to encourage even more people to choose them to do business with.
Here are some ways your business can do some good and build corporate responsibility street cred along the way.
Some companies are now encouraging their employees to volunteer with local charities and non-profits to spend time helping out with initiatives that matter to them. It could be pitching in at a food bank, cleaning up the river, or assisting at a shelter. It can be done by individuals or as a company group. There are some businesses that are making volunteering such a priority that they are allowing employees x amount of hours per month to volunteer during work without losing pay!
Sponsorship of fundraising events or other local activities is a great way for businesses to exercise corporate social responsibility. Whether you are donating money to help put on an event that supports medical research or getting together a team of your people to help staff a youth development gathering, you can do a lot of good.
Partner with a Charity
A great way to be a positive impact on the world is to choose a charity for your business to team up with. It can be a local organization that works with the homeless or a group across the globe that helps bring clean water to places in need. No matter which charity you choose, you can help support them in many ways. There's the obvious financial aspect, but there is also a lot a business can do to bring attention to a charity and encourage others to support them as well.
Dedication to an Initiative
If you're a business that is purely out to make a profit, then there's plenty of frowned upon ways to do so. However, today's connected world has made it easier than every to turn a healthy profit while also dedicating your business to different types of positive initiatives. There is clean energy, equal pay, eco-friendly materials, continued education, reduce plastic usage or waste, work from home programs, etc. There is plenty to choose from here.
More and more, we are seeing corporate social responsibility woven into the fabric of businesses all over the world. No matter what your cause is, it's important to get involved. You can have a massively positive impact all while endearing people to your brand and growing your company.