Blog

8 Reasons Why Corporate Social Responsibility Matters More Than Ever

Corporate Social Responsibility, Employee Engagement, Workplace Generosity

The next time you sit down to talk about how you’re going to grow your business, you have to put a discussion about corporate social responsibility (CSR) on the agenda.

Yes, we said that you have to talk about CSR. That’s how strongly we feel about this.

We understand if you’re not sold yet. Given that this wasn’t historically what we consider to be a necessary part of a successful business strategy, it makes sense that you’d have questions like these: Why does our team have to talk about it? Why is it an important part of our company’s growth strategy? Can’t we treat it as a nice-to-have discussion to save for a future date?

You tell us. Research shows:

Retention: More than 56% of employees stayed with their current employer because of support for community engagement
Recruitment: Over 97% of prospective employees said that support for community engagement would encourage them to move to a new organization
Engagement: Of the 51 percent of companies that measured the connection, 96 percent of them found that employees who volunteer are more engaged than peers who don’t volunteer.
Business Growth: 64% of CEOs believe that CSR is core to their business strategy.

Maybe you’re sold but you don’t think you have the resources (money, time, employee bandwidth, tools, etc.) you need to create a successful program. You do, trust us. You can make an impact at any size.

In this post, we’ll give you a few reasons why we think investing in your CSR efforts is more important than ever before. We’ll also explain how Uncommon Giving can help your business create a program that requires little administrative oversight and is actually fun and easy to use.

Keep reading to learn more.

What is corporate social responsibility?

Before we dive in, let’s make sure we’re on the same page about what CSR is.

Corporate social responsibility describes how businesses like yours can make a positive impact on society and the environment. Also known as corporate citizenship or corporate social impact, it involves voluntarily taking responsibility for how your company impacts your community and the world. Once you’re aware of your impact, you then take tangible steps to address it.

This can take many forms. Some companies reduce their carbon footprint, support local communities, or adopt more ethical business practices. Other companies donate a portion of their profits to nonprofits. Many companies now provide employees with volunteer time off in order to amplify their team’s generosity.

No matter how you use it to make an impact, the ultimate goal of a CSR program is to help you create a sustainable business that positively impacts both your company and the world.

8 reasons why corporate social responsibility matters more than ever

Here are just a few reasons to invest in CSR initiatives if you haven’t already:

It addresses an important and urgent need. Businesses have a significant impact on society and the environment. By taking responsibility for that impact, you can help address important issues and provide support that will help create a more just world where everyone can thrive.

It increases your impact. When you facilitate employee giving and volunteering opportunities and put a system in place to manage your program, you’ll be set up to do more good than ever before. With a better system or software at your fingertips (more on that at the end of this post), you have a way to measure impact and communicate transparently with employees and outside stakeholders.

It improves your reputation. Companies with strong CSR practices tend to have a better reputation and a more positive relationship with their community. This can lead to better financial outcomes. Why? Your efforts may provide your company with a competitive edge when it comes to selling your product or service.

It reduces risks. The positive press or word of mouth you generate from your CSR efforts can help your company reduce potential risks (legal, reputational, etc.).

It strengthens your company culture. Creating a program around generosity helps strengthen your relationship with employees and facilitates social connection for your team members. You can use the program to invite more employee input and increase their involvement in the company, which shows them that you care about them beyond how they impact your company’s bottom line. This is especially important for things like recruitment and retention as research shows that 71% of employees surveyed say it’s imperative or very important to work where culture is supportive of giving and volunteering.

It attracts strong candidates and retains your top employees. Investing in a CSR program helps attract and retain top talent. This is because people want to have an impact. They also want their current or future employer to be able to prove that they’re making the impact they say they are. The right CSR platform will help you generate the reports you need.

It highlights your values. Your values should be more than just words on your website. Part of improving your company culture is to show how you “walk out” your values. By implementing them and involving employees in that implementation, you’re walking them out and bringing them to life.

It improves your bottom line. In addition to the increase in revenue you may see from your positive reputation, you’ll likely also see an increase in employee productivity.

Now that you know why you should invest in CSR as a concept, take a look at why we believe you should invest in a corporate giving solution like Uncommon Giving.

How can Uncommon Giving help us with our CSR efforts?

The best software is the kind that you look forward to using. That’s the Uncommon Giving platform. It’s fun, intuitive, and helps you achieve your goals.

It also saves you and your team valuable time so you can focus more on your mission than on administrative work. If you step away from your desk, you’ll have access to the information you need through our mobile app.

Why do other companies use Uncommon Giving’s platform?

Our clients sign up for Uncommon Giving because they don’t have to pay any setup fees, they can onboard quickly (sometimes in one day!), and they were attracted to the idea of receiving two automated disbursements per month.

Other reasons they chose Uncommon Giving:

Simple and fun to use
A giving wallet for each employee
Instant access to nonprofits
Modern cloud technology
Easy process automation
Low overhead disbursements
Measurable social impact

Also good to know: To help nonprofits attract donors, Uncommon Giving makes it easier for those donors to reach nonprofits and manage their charitable donations. If you work for a nonprofit, you can learn more about how we work together here.

In conclusion

Corporate social responsibility is a crucial concept that businesses of all sizes and in all industries should embrace. By taking responsibility for your impact on society and the environment, your company can help create a more just and sustainable world and receive a return on investment that will help your business grow.

To learn more about CSR programs, download our free eBook: Making an Impact: Effective Giving and Volunteering Strategies for Companies of All Sizes.