WHY ALL COMPANIES SHOULD BE COMMITTED TO CSR06.06.2018
Think having a corporate social responsibility (CSR) strategy is just a branding exercise? Think again! As the demand for top talent continues, having an effective CSR strategy is becoming even more important. Whether litter picking in your local park or supporting skill shortages, there are many ways companies can get involved and give back to society. We’ve outlined some of the key benefits CSR can bring to a company, employees and the wider community.
Help attract new talent
According to the millennial research report millennials continue to be increasingly engaged in causes that address or attempt to solve social issues. This shows when looking for new opportunities it’s not just financial rewards millennials are interested in. Millennials (those born between 1981 and 1996) are the largest candidate pool for many companies. Therefore, implementing a well-structured CSR strategy can help attract more candidates and help employers stand out within a competitive market.
Benefit future pipeline
Particularly in technology, future skill shortages is a hot topic. Companies can implement CSR activities to directly influence and change this problem and improve the future pipeline. For example, companies could visit schools and help students understand what a career in technology is really like or set up after school sessions where students can learn to code. These are both great ways to engage with future talent and give employees a chance to share their skills with the wider community.
Improve employee wellbeing
Research shows working outside can help reduce stress levels and improve productivity, therefore, implementing a CSR strategy which allows staff to do this could improve employee wellbeing. For example, helping your local council improve community parks is a great way for employees to give back to society whilst working outside. This would encompass a wide range of activities including planting flowers, clearing rubbish, painting walls, etc. Therefore, giving employees options as to how they would like to get involved.
Increase employee engagement
Taking part in CSR activities is a great way for employees to meet and work with colleagues outside of their normal day to day role. This can lead to increased moral and help with engagement across the whole business. Improved teamwork can also help with staff retention. Getting employees to have a say in what CSR activities the company should support is a great way to increase engagement and help employees feel valued.
As the demand for top talent continues, having a structured CSR strategy embedded in your company ethos will be extremely beneficial. It’s important CSR is not just a ‘tick in box’ exercise but is something that’s bought into by directors and C-suite managers. Buy-in from the whole company and senior teams leading by example is the best way to ensure it’s successful. Companies must understand it’s not just a financial package candidates are looking for when exploring new opportunities particularly passive candidates (and millennials) who are not solely focused on money.
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