Five Benefits Of Having A CSR Strategy

Back in 2010, Forbes posted an article which stated that over 30% of employees would consider leaving their job if their company gave little or no money to charity and as many as 65% would consider leaving if their company harmed the environment. Eight years later and those statistics have risen dramatically with over 90% of millennials believing that working for a responsible company is so important that it has become one of the criteria they consider when applying for jobs. With millennials predicted to make up 35% of the global workforce by 2020 (source), these are statistics we simply can’t ignore.

One way you can cater for the increasing desire to work for a responsible company is introducing a CSR strategy into your business. CSR (corporate social responsibility) is an initiative which companies undertake in order to increase awareness of the impact they have on the community, stakeholders and environment whether it’s social, economic or environmental. The importance of enacting a CSR strategy is growing even stronger with increasing demands from employees, customers and the government but there are so many other reasons why your company should have one, here are just five.

Boosts employee engagement

As you can see from the statistics previously mentioned, people like working for a company which is responsible and as a result, they will feel proud to work for you and more engaged with the business. As we have said before on our blog, high employee engagement levels can lower staff turnover and absences, improve productivity and increase profitability. An engaged workforce can also help you to attract future employees as well as retain your current staff.