Corporate social responsibility refers to the duty of a company to contribute to the social in which they operate.
There are a huge number of different ways in which a company can fulfil their corporate social responsibilities depending on the goals that they have set.
When done appropriately, planning your corporate social obligations AND fulfilling them can improve your reputation within the community, increase customer loyalty, and attract a high standard of employees and investors.
Fail to take your corporate social responsibility seriously and you will perceived poorly within the local area, leading to a higher risk of security threats and you may lose business.
Common CSR practices
Just some of the ways in which a company can improve their Corporate Social Responsibility include contributing to environmental causes and taking action to reduce their own environmental impact, contributing to charity of other philanthropic causes, improving staff working conditions and increasing pay, and volunteering within the community.
What are the benefits of CSR?
Improves brand image
You cannot overestimate the importance of brand image in the modern business world. Customers, investors, shareholders, staff, and pretty much anyone else for that matter only want to engage with companies that are socially responsible and hold themselves to account for their actions.
Public image is key and CSR is the key to a great public image. Contributing to local causes, helping to raise awareness for local issues, and generally being a good influence within the community are all ways in which a business can improve their CSR and boost their brand.
Reduces the threat of security breaches
A company that is loved, or at least liked, within the local community is less likely to be the victim of targeted attacks of vandalism and theft.
Of course, as with any major company, you will still need to consult with professional security companies in Birmingham to guard against danger, not all threats come from within the local community after all and some people simply don’t care about the good or bad work that a company has done, but there is no need to go attracting trouble.
If you can protect your business and save yourself from a google deal of hassle whilst also improving your reputation and boosting the amount of customers who are choosing your services, what’s not to love?
Attracts new staff
Who wouldn’t want to work for a company that tries to give back and is engaged with the same community they live in.
If you have a poor reputation in the community, attracting staff can be a challenge as people are likely to be unwilling to work for someone who they and everyone they know is not a fan of.
On the flipside, well respected companies are likely to attract a high calibre of applicants for any position that they have and people will be proud to say they work for your business.
They are also likely to be more productive when in work as they genuinely want you to succeed.