According to the latest Nielsen global survey on CSR for 2014, companies focused on CSR also benefit from their initiatives.
55% customers prefer buying from companies committed to positive social and environmental impact.
67% employees prefer to work for socially responsible companies.
49% customers volunteer and/or donate to organizations engaged in social and environmental programs.
CSR is good for business and reduces cost of employee acquisition and retention.
How can we make CSR initiatives effective?
1. Have a long-term view on a social cause.
2. Stay focused. Take on 1 or 2 causes at a time, and do them right.
3. Set improvement parameters for the cause with clear goals and deadlines, shared with a central governing body (each country should have its own).
4. Take on a cause that’s within the region of your access. If you’re a business in the US with no linkages in Africa, don’t try to tackle a cause in Ethiopia. You’re most likely going to mess it up, besides wasting resources, which can be put to better use.
5. Leverage your resources and competencies. For example, a company making edible oil teaches women from uneducated backgrounds to make chocolates and other sweetmeats as a means of self-employment. It provides them with free oil for their business.
6. Have a dedicated CSR team to bring the desired commitment and focus on it. Don’t share the accountability between managers with revenue generating responsibilities. CSR will take a backseat.
7. Don’t outsource it. CSR initiatives should be conceived within the company or you wont feel the passion of doing it.
8. CSR is not a PR crutch. Don’t showcase it. Instead, divert those resources to enhancing the initiative.
CSR is not just the first step towards philanthropy; it is a follow through to the last mile. With CSR we add another endeavour to leave a legacy of a much better world for coming generations.
ref link:eight CSR trends to watch out for in 2015
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