How Can Firms Contribute Towards The Society In Pandemic?
When COVID -19 entered the world, life came crashing down for people. The pandemic bought a drastic change in how we work to how businesses operate.
COVID-19 had a negative impact on local, national and global economies. During the pandemic’s initial days, business organizations took a step back to keep itself away from the havoc created by the virus. But, as businesses role in society increases and stakeholders capitalism becomes mainstream, businesses have to develop a plan to contribute their bit towards society.
Amidst the pandemic, it is interesting to see how reputable companies contribute to CSR (corporate social responsibility) while managing the challenges posed by the pandemic.
It’s during the difficult times; society looks up to reputable organizations to come forward and makes a positive impact. The best CSR company is the one that remains clear in its societal purpose when face with unremitting uncertainty.
Public Perception Of The Brand
CSR and brand play a crucial role during the unprecedented times. Community outreach, honesty and dedication will help companies to keep their brand and reputation authentic during the tough times. Companies can support causes and help NPOS or charities show their engagement and involvement in matters affecting society. From United Airlines CEO and President foregoing their salary to LVHM producing hand sanitizers for free distribution at hospitals, companies can do a lot to help society during the pandemic.
How To Contribute Towards Society When Faced With The Challenge Of Limited Resources?
A Helping Hand When It Comes To Financial Security
With stores and factories shut, firms must take the responsibility to support hourly employees financially. For instance, Luluemon is closing all stores in North America but will continue to pay employees and contribute towards the pay relief fund. Similarly, Microsoft is committed to paying its hourly workers regular pay. Walmart, Apple is updating its sick-leave policies to help and support their most valuable employees.
Mental Health Should Become A Priority.
The pandemic has been tough for everyone, but service workers have faced the biggest brunt. Service workers put their life at risk, and very few receive employer-sponsored health insurance. This is where corporations can make a difference by doing something for service workers. For example, Starbucks announced a catastrophe pay for team members who miss work due to virus exposure.
Make Proper Utilization Of Wastage.
Due to COVID-19, many business organizations faced spoilage due to the overstock of inventory. Instead of wasting items, businesses can provide items to those in need. For instance, restaurant sellers or retailers that are at a higher risk of spoiling can donate food before it becomes useless. Similarly, service firms can use their idle capacity to deliver value to customers. Whatever you do, you should always do something to leverage the contribution.
Now, the question is how you can put this plan into action. There are many platforms like GOZ Around that provide an opportunity to socially responsible companies to contribute their bit towards the society.
