Up until recently, Corporate Social Responsibility was seen by many organisations as something they had to sometimes add on top of their other activities and processes.
Now, more and more organisations are realising that not only can they achieve more good by building more socially and environmentally responsible practices into the way they work, there’s a growing business case for doing so too.
How Corporate Social Responsibility drives business
1) Boost your brand…
There have been some pretty eyebrow-raising Corporate Social Responsibility statistics and surveys published in recent years. These have shown that:
- Over 77% of consumers are more likely to purchase from a company they perceive is trying to make the world a better place.
- Around 25% of consumers (and 22% of investors) say they have a “zero tolerance” policy towards organisations they perceive as having harmful policies
This means that your organisation’s CSR is increasingly a driver of who will and who won’t be motivated to do business with you.
By taking a strong stance – one that makes sense given your business’s niche and is actually a practical part of the way you operate – you boost your brand in a very positive way. This enables you to start generating that all-important consumer trust and loyalty.
2) …And your bottom line
A hold-over from some of the slightly artificial-feeling CSR policies of the past is a sense that implementing ethical business processes is something that is going to cost money.
This perception isn’t exactly wrong. Yet it isn’t the whole picture either.
Because not only are increasing numbers of consumers being driven to use businesses that have shown themselves to be taking a stand on ethical issues, consumers are also signalling their willingness to pay more for goods and services they know to have been delivered responsibly.
CSR can also give you new avenues and channels through which to engage with new audiences. For instance, if you decide to switch to SaaS (Software as a Service) to do away with in-office servers and other energy wastage, you have something to talk about with a whole new potential market.
Huge numbers of people now make minimising their carbon footprint a primary decision point for all businesses they choose to use. Those people are also likely to spread your commitment to this kind of issue by word of mouth to other like-minded consumers, further increasing your potential reach.
3) Attract and retain talent
The other area where proper implementation of CSR policies can positively affect your business is your team. Because today, people in all industries are starting to expect more from their employers.
This means clearly defining your organisation’s purpose and building an ethical approach into everything you do has huge business benefits when it comes to attracting and retaining talent:
- 60% of employees say they would work for a purpose-driven company for less.
- 92% of employees say they would be more likely to recommend their employer when they feel they have a purpose.
- 90% of employees say that they are more “inspired, motivated, and loyal” when they feel their employer has a strong sense of purpose.
Start your CSR journey with B Corp Certification
Implementing a proper CSR strategy can no longer be perceived as a net drain on a business. Quite the opposite.
Operating in an ethical, compassionate way often means a more caring and positive – and thus, more productive – environment for your team. It can also mean a big boost in your brand’s profile, attracting custom from the large numbers of consumers who now let an organisation’s CSR policies dictate when they open their wallet.
One of the smartest ways to signal you meet high standards of accountability and transparency when it comes to issues ranging from employee benefits to supply chain practices is getting your B Corp Certification. Dial A Geek and some of our partners and clients are already on it (and even though we’ve not achieved the certification yet, it’s already improved the way we work).
If you want to improve your company’s impact on the society and environment, as well as signal that Corporate Social Responsibility is important to you too, it’s a very good place to start.
Want to see what smart decisions you can make with your tech to better meet your CSR vision?
Let’s talk. Dial A Geek already helped nearly 1000 businesses in Bristol and the UK get more out of their tech.
Set up a cost and commitment-free consultation with Chief Geek Gildas Jones today and have a chat about your IT’s impact on the environment.