Why Is Implementing A Corporate Social Responsibility Vital For Business?

There are many social justice organizations out there that show corporate social responsibility in a plethora of ways. Employee volunteering, donations to charity, ethical labor practices, environmentally conscious production processes are some of the CSR practices that can make your business look good in the market.

Is CSR merely a gimmick designed to fillip a company’s brand or public image? Is it a practical method for companies to integrate social and environmental issues into their business models? All the answers to your questions lie in the post. Read on to find out more.

As evinced by the stats, CSR is gaining popularity with each passing second.

1. More than half of millennials tend to defend a socially and ethically conscious company if people ill-mouth it.

2. 40% of consumers seek purposeful brands and trust in brands to act in society’s best interests.

3. 71% of Millenials hope companies will take the lead on social issues they find important.

Significance of implementing a corporate social responsibility program

If you wish to maintain your reputation as a nonprofit social justice organization, you need to invest your time, money, and efforts in implementing a CSR strategy. Here are a few benefits that can compel you further.

1. Enhance employee satisfaction

People prefer working for companies with strong core values, facilitating positive change in the world around them, and encouraging employees to impact their environment. They tend to become more engaged in their work when they feel valued by their employers.

2. Boost customer loyalty

The customers of today’s era are smart and aware. They want to buy from socially responsible brands. As the stats say, 56% of consumers are more likely to buy from a brand that is known for its social value. And 53% of customers identify a brand’s commitment to community involvement.

3. Improve your public image

Sure, this should not be the driving motivation behind your CSR program, but it would not hurt to have a decent reputation in the market. It would be disingenuous to ignore the benefits CSR can have on your company’s image.

If you wish to invest in a CSR strategy, GozAround can offer you all the assistance. We are an online platform that allows individuals, businesses, and nonprofits to find, measure, and share social impact activities. Get in touch with us to know more.