With research increasing on the power of corporate social responsibility (CSR), companies are more aware of the impact their actions have on society. According to research conducted by Double the Donation, 93% of the world’s largest 250 companies publish annual reports on their CSR efforts. Advocacy campaigns, philanthropy and implementing social or environmental initiatives are just a few of the things companies can do to elevate their business, resulting in increased brand recognition. CSR is vital for a company’s public image because it could be one of the first things a consumer sees or hears about your organization. Would you rather your company be known for its efforts to be socially responsible or for a lack thereof? There are many benefits of corporate social responsibility that are sure to strengthen your business. We’ve made a list of the top ways CSR can help you, and in turn, help others.
Creating Consumer Connections
Connecting with your consumers is one of the most important things a business can do, and the long-term benefits of focusing on this aspect of CSR are worth the effort. Your company will play a big role in increasing the awareness about important issues. A study done by Cone Communications last year found that 87% of Americans said they would buy a product from a company that advocated for an issue that was important to them. The numbers for millennials and generation Z, a key demographic for companies today because of their growing spending power, skewed higher than the national average in regard to being aware of CSR practices. Communicating about where your business stands on a certain issue will show your consumers and the general public that you care, further developing the connection they have with your business.
Encouraging Employee Engagement
Your employees are your greatest asset, and companies that focus on CSR transform their workplaces. It’s no secret that an employee’s environment can have an effect on their work, they want to feel that you care about more than the bottom line. Lewis Institue for Social Innovation’s research on sustainability initiatives showed that companies who have employees engage in CSR programs could see a 50% reduction in turnover. When you convey a dedication to social responsibility, your employees are more likely to feel connected to the company’s mission as well as other employees. This creates a positive work environment that fuels productivity and output, and your business will flourish as a result of this shift in corporate culture.
Reaching consumers and engaging employees is integral to the success of your business, but one of the biggest benefits of corporate social responsibility is the impact it has on nonprofit organizations. Organizations that support important causes can experience an influx of attention through CSR efforts led by big businesses. Donation-matching is one way to support nonprofits. The Big Give discovered that 84% of survey participants were more likely to donate if their company had a matching program. This helps nonprofits reach their goals and yours at the same time. Supporting nonprofits encourages consumer and employee engagement, as does the knowledge that your company stands for more than the great products or services offered.
Implementing CSR strategies is a great way to show the world that you care. Appleton Creative is an award-winning, full-service public relations agency located in Orlando, Florida. Appleton works with local, national and international clients to engage, inform and persuade target audiences of all types and sizes. Through strategic planning, media advisories, press releases, events and reputation management, Appleton can publicize and manage your company’s products, events and achievements. Your PR goals are worth a conversation: contact us at 407-246-0092 or firstname.lastname@example.org.