Corporate Social Responsibility (CSR) is becoming an increasingly common part of modern business.
This concept involves organisations recognising what their impact on society is and taking action to minimise any negative effects that they might be associated with in this area.
However, far from just being a PR exercise to demonstrate the moral compass of your business, an effective CSR strategy can bring multiple benefits to the way a firm operates.
These plus points can include:
- Cost savings
- Improved risk management
- Better employee engagement
- Increased focus on innovation
Of course, the relationship between the company and its customer should certainly not be ignored, and taking an eco-friendly stance can make a significant difference to clients who are environmentally aware and in the process of deciding whether to use your services or that of a rival firm that perhaps doesn’t share the same values.
Often, it is the decision to make a conscious effort to become more responsible for your impact on society that can make the biggest difference.
For example, cost savings can be achieved by assessing whether or not the proportion of waste currently being produced can be recycled or reused instead and taking action to ensure this is achieved.
Researching or brainstorming the different approaches your company can take to adopt CSR can also encourage an ‘innovation culture’, which can help your firm to become more forward-thinking about its processes – potentially making them more efficient and sustainable in the long term.
In fact, getting your workforce involved to determine the best course of action can have a positive impact on their relationship with the business. By asking for their suggestions, you are actively engaging them on a subject that some may be passionate about, while at the same time demonstrating that you value their opinions.
Finally, a more sustainable outlook can improve your risk management, as you will naturally gain a better understanding of the environment around you, and some of the issues that could affect your organisation in the future.
If you are interested in CSR and how you can incorporate it into your company’s culture, why not sign up for one of our training courses on the issue?