The holiday season is known as the time for giving, but smart, charitably minded businesses make it a habit of giving back all year long. Corporate social responsibility refers to a business’ contributions toward an ethical cause that aligns with its goals. This commitment to donating time, money and effort not only makes a positive impact in the world, but can benefit your business in many ways as well.
Connect with Customers
A shared cause can be an important rallying point between customers and a business. Feeling as though you stand for the same things is important for a customer to feel connected to your company. In an industry where loyalty is hard-earned, your business’ contributions to the community go a long way. When a customer can more strongly identify with your brand’s mission, it’s easier to gain their trust.
Attract New Employees
Having a clear objective with regard to corporate social responsibility is useful in attracting employees whose mindsets align with that of your business. Many people are interested in making an impact in their workplace, so a company that demonstrates social responsibility is very appealing to those jobseekers. A good culture fit is just as important to most employees as a role that suits their qualifications. Being straightforward and open about your company’s values sets both employer and employee up for success.
Motivate Team Members
Corporate social responsibility applies in an ethical capacity as well as in a more philanthropic one. Making it clear to your employees that you’re invested in their career and personal growth can play a huge part in increasing employee engagement and job satisfaction. Fulfilled employees are happier, more productive and more loyal. Some ways to engage employees are to provide them with clear career development paths, give recognition for workplace achievements, offer cross-training opportunities and even set up volunteer time.
The more you make corporate social responsibility a priority, the more involved both customers and employees will become. A commitment to corporate social responsibility creates a positive brand identity that will go a long way toward setting your business up for sustained growth and long-term success.