Corporate Social Responsibility (CSR) is no longer just a buzzword or a ‘nice to have’ but an essential part of a business strategy, writes Osborn Communications specialist Clare Knowles.
At Osborn we know that companies who adopt CSR initiatives can reap significant benefits, from improved brand reputation to increased employee satisfaction.
With experience in delivering an award-winning CSR programme as part of the corporate affairs team at a leading food and drink retailer, wholesaler and distributor, I understand that CSR encompasses more than philanthropic efforts and forms the foundations of responsible business.
I was involved in the delivery of a company-wide employee volunteering programme together with the roll out of CSR strategy and initiatives covering employee development, equality & diversity and sustainability.
But what exactly is a CSR strategy, and why should your business consider implementing one?
What is CSR?
CSR is the process of assessing an organisation’s impact on society and evaluating their responsibilities. CSR typically looks at where a business can make a positive impact towards customers, suppliers, employees, communities and employees.
Introducing a robust CSR strategy and policy is much more than a box ticking exercise or a list of statements on a noticeboard. Businesses should look at their values, business mission and core issues to determine which initiatives best align with the business’s goals and culture.
Key benefits:
- Enhance brand reputation and customer loyalty– Customers are becoming increasingly aware of businesses who make a positive social impact and those who establish a CSR strategy are more likely to enhance their reputation and retain loyal customers.
- Attracting and retaining talent– A strong CSR programme can improve job satisfaction and employee engagement, leading to higher retention rates. Companies that invest in social and environmental initiatives create a sense of purpose among their workforce, which in turn boosts productivity and morale.
- Compliance and risk management- Businesses that are proactive in adopting policies to support the environment, customers and colleagues avoid fines and legal issues, but also reduce the risks associated with reputational damage and unethical practices.
- Environmental impact and cost savings- Those who implement initiatives such as reducing energy consumption and minimising waste not only see operational efficiencies but a reduction in costs.
What can you do to get started?
It’s important to make sure that whatever action, initiatives or targets you decide to set, they mean something to your business and align with your culture and values.
- Identify areas where your business can make a social or environmental impact.
Think about key areas you would like to focus on or formalise existing activities. This could include work in the community, activities to support your environmental goals or internal programmes to support your workforce such as learning and development opportunities or working groups that champion equality and diversity.
- Look at what others are doing
If you are unsure where to start it’s worth researching what other businesses are doing- big or small! Take a look at organisations such as Midcounties Coop, Greggs, and EY to see what they are focussing on as well as others in your industry. Most businesses with defined CSR policies will have a section on their company website.
- Speak to membership organisations
There are plenty of businesses out there who specialise in CSR strategy and can help you to shape your policy and goals.
Business in the Community (BITC) is the King’s Responsible Business Network that connects businesses with communities to engage on a number of issues from equality to sustainability, employment and skills and health and wellbeing.
By joining BITC, members unlock advisory support, access to exclusive networking events and the opportunity to tap into BITC’s vast regional network and community partners.
Take a look at the United Nations Sustainable Development Goals. Adopted by the United Nations in 2015 they are a universal call to action to protect the planet, end poverty and ensure all people enjoy peace and prosperity by 2030.
Many organisations use the Sustainable Development Goals as a globally recognised framework for their CSR strategies that goes beyond a philanthropic gesture to making a tangible difference towards a sustainable future.
- Set clear goals
Once you have established which CSR areas you would like to focus on, set some clear, measurable targets. You may start small by simply measuring existing activities such as your energy usage or charitable giving, or you may want to set long term targets that align with your business goals.
- Engage your workforce
Involve employees in CSR initiatives. If you are thinking of establishing a charity of the year or looking for a local school to partner with, ask for their opinion and share ideas to encourage collaboration at all levels.
- Promote your pledges!
Share your CSR policy, targets and initiatives with your stakeholders, make sure you promote them on your company website and regularly share your progress and achievements to wider audiences via social media and news releases.
Regardless of your size, sector, or customer base, a well thought out CSR policy is not only good for society- it’s good for business! By taking small steps, a CSR policy can make a positive impact on your organisation whilst driving sustainable growth.
If you would like support creating a meaningful CSR policy for your business, then please get in touch today!
If you’d like support with building or improving your company’s reputation, we can help. Osborn’s clients benefit from our years of experience generating positive content for different audiences. Drop us a line to book in a chat.