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Why invest in a CSR Strategy?

People sitting down and standing up with arms around each other United Way Western Australia

Your Corporate Social Responsibility Strategy offers more than just a chance to build good will. Not only are businesses now expected to play a role in societal and environmental change, a great CSR strategy that is motivated by and linked to your organisation’s purpose can do a lot more than just tick a box for your stakeholders.

Employee Retention – Research all over the country shows that people who volunteer are generally happier and more engaged individuals. Employees who are given the opportunity to make a real difference in their community through workplace volunteering associate those positive experiences with their employers, creating higher satisfaction, motivation and loyalty.

Build Company Culture – A powerful CSR strategy demonstrates and builds your company culture. You’ve got to talk the talk AND walk the walk. Employees who participate in CSR initiatives are actively living and growing your culture and they gain a deeper emotional connection to your organisation’s mission.

Attract Talent – When your values and actions align with those of your ideal customer and employee, you attract a broader range of talent when recruiting. Our society is seeing the affects of an entire generation of people who are seeking meaning from their working lives and who are more likely than ever before to actively interview their potential employers. By demonstrating a high commitment to your organisation’s values, you are ensuring you attract like-minded employees who will give their all.

 

Increased Media Coverage – In a world where society is yearning for a feel-good story and cute cat videos rule the internet, the need to generate positive new stories is just smart business. A strong CSR strategy naturally generates ongoing, positive content that demonstrates your business’s values and purpose. Not only do CSR activities help build organisational culture and provide plenty of material for social media engagement, they also provide opportunities to invite your local media channels to cover the story and interact with your organisation.

Stand Out From The Competition – A strong CSR strategy that involves your employees is by nature visible, tangible and authentic – exactly the elements it takes to stand out from the crowd. Not only do your employees become your best advertisements, your overall perception in the community grows as a trustworthy brand that means what they say and then actually does it!

Customer Loyalty – These days customers are increasingly willing to pay more for products from socially responsible businesses. A strong CSR strategy demonstrates your commitment to your values and builds customer trust and connection. It gives them a tangible reason to choose your products and services over a competitor because the choice make them feel good.

Government Relations – Businesses that are transparent and active in their CSR activities typically have an easier experience when dealing with government. The better and more stable your public perception, the less risk the government has when doing business with you, having the potential to make your negotiations a lot easier.

So with a list of benefits like this, what is your Corporate Social Responsibility Strategy going to look like?

United Way WA specialises in helping organisations create and manage a great CSR strategy. To find out more about what we can do for your business, contact us today.

 

ARTICLE PUBLISHED 04/04/19 BY RIKKI STEWART

Rikki is a fundraising, marketing and community engagement guru and current member of the United Way WA team.

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