For many years, the public has become more accustomed to holding companies responsible for their actions that affect the community at large. Corporate social responsibility is more important than ever and takes on various forms, including corporate giving and direct financial contributions to charities and community organizations. These types of corporate efforts not only benefit the community but also provide direct return benefits to the company doing the giving. In this article, entrepreneur, Adam Ferrari, examines ways companies maintain sustainability through social responsibility.
1. Customers Appreciate Corporate Responsibility
Consumers of products and services from almost every industry place a high value on doing business with socially attractive businesses. Most customers state that they will pay more to do business with companies that present a positive social corporate cultural image.
Corporations who understand the social goals that are important to their customers will have a great head-start on determining which sort of social and charitable projects to promote. For example, an organic grocery that partners with charities that source environmentally sustainable food and put strong efforts to combat hunger by giving back to communities in need will naturally align with its customer base on important social issues. Customers will identify with the charitable mission and will become more loyal customers as a result since it speaks to the core values of the consumer.
2. Social Responsibility Builds a Strong Media and Public Image
Local media outlets and industrial organizations are always on the lookout for positive stories about commercial and community relationships. Socially responsible giving and charitable efforts provide meaning and root the value of a company’s mission. While the negative coverage that usually comes with socially irresponsible corporate behavior draws most media attention, simply avoiding negative press is not enough. In order to encourage financial success, a company should actively seek out local organizations that represent causes aligned with the company’s core https://www.values. Working with a local media organization and using social media to further the message and inform others on how they can contribute to the cause will not only encourage better social actions but also share where the company stands on social issues by standing strong for responsibility and good citizenship.
3. Responsibility Improves Employee Recruiting and Retention
Talented employees and managers look for much more than simple financial benefits when considering work opportunities. Most job seekers look to be associated with organizations that match their values and personal image, and building a strong resume includes careful consideration of the reputation of where a person works. Social responsibility also promotes overall employee satisfaction and retention. The costs that are saved by keeping good talent inside an organization make responsible actions all the more rewarding. Employees who appreciate a corporate culture of giving and social responsibility are much more likely to be engaged in the corporate mission and act as strong public ambassadors.
4. Social Responsibility Strengthens Business Relationships
For companies that rely on long-term business, community, and client relationships for success, a strong and positive public reputation can be invaluable. Charitable work often involves cooperation and friendly competition with other businesses and governmental entities. The power of networking that results from relationships that are built-in community-based events leads to opportunities for working with other companies on business projects. Friendly relations with local governmental and regulatory agents are also very important to sustainability.
5. Responsible Behavior Promotes Industry-Wide Sustainability
Every corporation exists to make money and stay in business, and overall industrial sustainability is critical to every company’s survival. Accordingly, broad social responsibility that promotes the health and viability of the industry is vital to an individual corporation in that industry. For example, if a manufacturing firm generates substantial amounts of waste material, they will benefit from efforts to work with non-profits and organizations dedicated to improving waste recycling and disposal. New technologies, even those with upfront investment costs, often are not only beneficial to the community as a whole but also to specific corporate entities who are interested in long-term sustainability.
This content is brought to you by Adam Ferrari.