Implementing a strategic corporate social responsibility (CSR) plan is a win-win for everyone — the general public, your employees, your stakeholders and your company, of course.
I’ve always had a passion for volunteering and helping people in need. So, when I co-founded Highnoon, it was extremely important to ensure our agency did the same. We’ve already launched a few company-wide efforts to make a difference within our community—but stay tuned. Some big news regarding our very own nonprofit is right around the corner.
Here are some reasons why I believe every company should have a thoughtful CSR strategy in place:
CSR and the Community
At the root of it all, CSR exists to create positive change in the world. Although this will eventually benefit the company, the true purpose is supporting the causes you care about.
First, you will need to identify authentic, meaningful goals that make the most sense for your business.
To do this, consider both the need and impact of your efforts. For example, you may want to help solve hunger in your city, but there are likely already dozens of other charities addressing this issue. Instead, opt for a more underserved cause like children’s literacy or caring for the elderly. No two communities are the same, so learn the problems specific to your neighborhood that require action. That way, you can be confident you’re truly making a difference.
CSR and Stakeholders
Your values need to resonate with clients, vendors, suppliers, industry officials, board members, and other important figures to maintain successful long-term relationships in the marketing world and beyond. For these stakeholders, the overall intent of your company could be the deciding factor in whether they choose to work with you. Regardless which industry you work in, image is everything — and your CSR plan will shape how your entire network sees you.
Once your company’s intentions are known and trusted throughout your community, like-minded stakeholders will begin to seek you out, improving your reputation along with it.
CSR and Your Employees
If you want your employees to stick around for the long haul, you’ll have to provide them with meaningful motivation. An employee is also a type of stakeholder in your company — just one with a different set of needs and wants. Employees want to form connections with their colleagues and make a difference in their community and their company. If you meet these needs, turnover rates will decrease, and productivity will soar.
It’s proven that 75 percent of the millennial workforce prefers reputable employers to a higher salary. Encouragement, inspiration and enrichment opportunities like volunteerism are the keys to creating such loyalty.
To get started, create an interest survey to gauge your employees’ interests in a way that aligns with your company values. With a generally right-brained company like the one I co-own, we aim to put our employees’ natural talents to good use. For example, Highnoon is currently organizing a book drive. We’ve been utilizing each department’s creative skills — from web development and design to public relations and social media — to push the campaign message out into the community.
CSR and Your Company
In my experience, a business with strong morals, altruistic values and a passion for serving others will always find greater success than one built on selfish principles. Profitability is not the main goal of having a strategic CSR plan, but it is a nice perk. Your organization will ultimately be healthier and more sustainable if you first invest in giving back.
I’m a firm believer that by doing good in your community, you’ll do well in business. Not only will you feel fulfilled by serving the causes you care about, but you will also create happy employees, loyal stakeholders and, in turn, more revenue for your company.
Want to implement a strategic CSR plan within your company but not sure where to start? Hire me to speak at your next event!