As the world and workplaces continue to evolve, more companies are prioritizing corporate social responsibility (CSR). Developing a CSR plan does not need to be overly intensive or complicated, and the right plan will help to create additional environmental and social value. Why should your company create a CSR plan?
What Can CSR Look Like?
Corporate social responsibility can take a wide variety of forms depending on your company, your community and the industry that you operate in. Some examples of CSR include:
- Donating money, products or services to a nonprofit
- Taking steps to reduce your carbon footprint
- Captaining a recycling initiative in your business park
- Paying for employees to complete college and utilizing ethical labor practices
- Volunteering for a local organization
- Creating a corporate gift matching plan
Consumers Care
Did you know that 55% of customers are willing to pay a premium for products from socially responsible companies? Additionally, 78% of consumers want companies to address relevant social justice issues, and over 85% would purchase a product partially because that company advocated for an issue that they cared about. A lack of corporate social responsibility can also do real damage to your reputation. Over ¾ of consumers indicated in a study that they would refuse to purchase a company’s products or services after learning it supported an issue contrary to their beliefs or failed to take action.
It Improves Your Image
Even if you choose to do no in-house marketing related to your CSR plan, becoming a presence in your community will naturally lead to a boost in your reputation. Businesses that demonstrate their commitment to social causes will always be perceived as more philanthropic than those who do not. Just like you feel good patronizing your favorite businesses due to their initiatives to give back, your target audience will feel good giving you business knowing that you care about the community.
Increase Employee Engagement
Employees enjoy working for businesses that have a great reputation and are committed to making a better tomorrow. When you show that you care about what your employees care about through initiatives like matching gifts or volunteer grants for organizations your employees support, it improves engagement and retention.
Include Us in Your CSR Plan
Business Volunteers Maryland is a nonprofit dedicated to strengthening the community by creating strategic connections between businesses, nonprofits and individuals. We help companies like yours to establish and expand community impact efforts while achieving your business goals. To learn more about our services and start working on your CSR plan today, contact us by calling (410) 366-6030.