Integrating responsible business practices into your day-to-day operations has become the new norm. Perhaps it’s a fad or perhaps it’s genuine reform. Your competitors couldn’t afford to ignore it: Can you?
Most large corporations now have a dedicated CSR director, with an entire department dedicated to charitable activities, community work, and sustainability initiatives. Smaller companies are starting to become actively involved in their community; even start-ups and online-only outfits are promoting their CSR activities through their blogs, tweets, and social media updates.
So why is it important to be socially responsible?
Its benefits are manifold: to you, to your customers, to your employees, and to society:
For example, your commitment to sustainability and to the community at large will make your company more attractive to talented job seekers. College graduates are increasingly interested in working with a purpose, having pride in their company, and its civic or global reputation. With the best new talent demanding this — and current staff beginning to ask questions about it — you need to have a strategy in place.
Consumers generally prefer to deal with responsible, ethical companies. If you have invested time and effort in a genuine social cause, you are likely to attract a more loyal customer base. And many large companies are more attracted to suppliers with these types of policies, since it minimizes risk to their own reputation.
Your company stands to gain a competitive advantage by appealing to the increasing number of socially and environmentally oriented investors and shareholders. Put bluntly: Good vibes, good press, good positioning. And damage control is easier when you have a good track record.
And of course, assisting the community and becoming socially aware is beneficial to the people you have helped, not to mention very rewarding for the employees who get to see the faces of the people for whom they are making a difference. An internal email informing employees that you have donated $20,000 to a cancer hospital is nowhere near as effective as when your employees spend a day at the fair with pediatric cancer patients on your dime.
And last but not least, there is some evidence that socially aware companies end up turning a greater profit due to increased visibility, better competitiveness, happier employees, and satisfied investors.
So what are you waiting for?
Start by connecting with your audience. If you’re a lawyer, can you offer your services for free within the community? If you’re a builder, contact Habitat for Humanity. If you sell paint, go to a local school and help them redecorate. Check out your local chamber of commerce for ideas, or browse sites such as charitynavigator.com.
But it has to be authentic. Consumers can tell the difference between a legitimate corporate conscience and a cynical marketing ploy. Plain old philanthropy doesn’t work any more. Think about the guy selling one pair of shoes and giving another pair away. The computers for Africa. The three cups of tea.
And whether or not you profit financially from your new socially responsible status, you will have profited in many other ways. One thing is for sure, no one loses.
