Corporate social responsibility may sound like just another LinkedIn buzzword, but this concept is essential to existing in today’s business landscape. Consumers continue to expect companies to go beyond just doing business and give back to their communities. Corporate social responsibility, or CSR, is all about the responsibility companies have to engage in philanthropic, charitable or activist activities. But, what does that mean and how can you implement CSR policies in your organization?
Over the past couple of decades, it’s become clear that consumers expect companies to go beyond business – they are in a unique position to use their capital, power and privilege to make a tangible difference in their communities and in the world as a whole. According to a 2019 study conducted by Aflac, 70% of Americans believe that it’s “somewhat” or “very important” for companies to contribute to making the world better.
It’s no longer acceptable in the eyes of most consumers to not take steps to promote, advance and support causes that improve society and help those in need of it. Prioritizing corporate social responsibility is not only the right thing to do – it’s also a prudent business decision. An organization’s CSR activities influence many customers’ decisions to support a company or not.
Embracing corporate social responsibility looks different at every company and there’s no one right way to approach it. As you consider next steps and what prioritizing giving back looks like for your business, here are some things to keep in mind:
Many organizations have already been embracing corporate social responsibility initiatives for years and can serve as great examples of how your business can do the same.
Famously, shoe company Toms rose to prominence for its buy a shoe, give a shoe program where they donated one pair of shoes to a child in need every time someone bought a pair. In 2021, they made the switch to a different charitable model where they donate one-third of their profits to a variety of charities.
Bath and body brand Lush is another example of an organization that focuses on making a difference. They raise funds and awareness about issues that relate to their industry, like fighting against animal testing, as well as issues that likely affect their employees and customers, like supporting marriage equality. Lush also works with their staff to regularly volunteer in their local communities.
OpenText, the B2B information management platform, also places giving back at the forefront of their corporate strategy. They focus on a combination of major gifts, like a 2020 $1-million donation to food banks across 21 countries, and participating in local service projects, like litter pick-up days. The organization has also created specialized positions that focus on determining the most effective ways they can give back and support both their employees and communities.
Giving back to our community is ingrained in the CONNECTIVE ethos. In fact, it’s one of our core values. Every quarter, our team donates our time and money to a different organization that helps out in the community – whether that’s here in our neighborhood, or in the global community. In the past, we have wrapped presents with The Birthday Party Project for children experiencing homelessness, crafted dog toys for the Dallas SPCA and donated to the International Rescue Committee and the American Civil Liberties Union, among others. We are privileged to be in this position to give back, and we are committed to continuing to make a difference with incredible organizations that do the groundwork to make this world better.
