Leaders who understand the importance of bringing social responsibility into their business strategy know it can create direct benefits such as increased profits, customer loyalty, better brand reputation and new opportunities.
Another advantage that can often be overlooked, however, is the effect that corporate social responsibility (CSR) can have on the attraction and retention of quality employees — something many businesses have great difficulty with.
When great employees consider accepting a new job offer, they look for obvious things like competitive salary and benefits, quality leadership, room for growth of responsibility and fulfilling work.
But something more and more employees are looking for in their work is the opportunity to give back and make a difference in their local, national and even international communities. Ways to engage and bring more sense of purpose to their work and to their lives. This is especially true for Millennials and the enlightened of the generations that preceded them.
Good employees, the kind every company wants to acquire and retain, do their homework. They want to know all about a company they might work for. This includes how the company operates in the world. It is easier than ever to do a quick Google search about a potential employer to see what their CSR reputation is.
Business that are not able to figure out the importance of CSR and how to create shareholder and societal returns simultaneously not only risk having increased regulatory pressures and difficulties accessing capital, but also risk their opportunity to both hire and retain quality employees who are seeking long-term company commitment.
If you want to become a business that has no issues attracting and retaining the best and the brightest, you need to be a company that makes smart, strategic and value-centred social engagement a top priority. Otherwise, you will lose out on a huge competitive advantage.
Our team at CSR Training Institute understands the pressure businesses are under to create positive social change in an authentic way and simultaneously grow the bottom line. We are here to help cut through the confusion to align business, social and environmental performance while keeping value as the top priority.
I would love to speak with you about how a strategic approach to CSR can help your business or organization leverage and deliver more value for shareholders and society. You can send me an email at firstname.lastname@example.org to get started.