CSR – Is it still important?
Corporate Social Responsibility (CSR) describes the efforts your company makes to positively improve society. It includes all measures taken to meet, exceed or develop all necessary requirements to improve your impact on society.
Companies who recognise the importance of CSR and environmental sustainability and factor these into everyday business decision-making, will in turn, positively impact on employees, suppliers, customers, investors, sub-contractors and the local community.
How to Implement:
CSR is a broad topic and the measures implemented depend on your industry, resources and the company size. These efforts can range from donating money to nonprofits to implementing environmentally-friendly policies in the workplace CSR can be implemented in both small and multi-national companies.
Commit to engaging team members and customers, through their everyday acts, at work, and at home.
Commit to reducing your carbon footprint year on year by minimizing the use of natural resources and reducing waste generated. Strive to reduce and/or limit the production of pollutants to the environment and assess the environmental effects of your company.
Invest in your Community
Aim to use your skills, experience and financial resources to support local and national initiatives which encourages team member’s involvement and positively impacts the communities in which they live and work.
The Supply Chain
Develop relationships with your suppliers to help ensure that supplies of goods and services used in your business are sustainable, local where viable, and that you obtain the best value in terms of cost, quality, service and innovation, which will be passed on to your customers.
Support a nonprofit
This can be a local organization or a multi-national charitable cause.
The Importance of CSR
- Customers are moving towards ‘ethical consumerism’ and basing their purchase on whether a company is ethical or not.
- It ensures respect for human rights – not only in the supply chain but also adherence to labour standards.
- Protection of the local and global environment.
- The backlash against companies from the last financial crash and corporate scandals, which put ethics and corporate behaviour into the spotlight
- CSR practices enhance the reputation of your company.
- Risk Management – maintain safety and quality in all operations.
Advantages of CSR
A culture that recognizes responsibilities to society will benefit from:
Business reputation and brand image
CSR will enhance your reputation with the public and within the business community, increasing your business opportunities.
Productivity and Quality
Improved working conditions, reduced environmental impacts or increased employee involvement in decision making will attract, retain and maintain a happy workforce and become an employer of choice.
Investment and funding prospects:
Investors are attracted to businesses that act responsibly and are ethically-minded.
Energy and operating costs are reduced.
You can differentiate your business from others by publishing your CSR efforts to win new business and increase customer retention.
when customers see companies acting in an honest and transparent manner, they will respond positively.
If you can demonstrate that you have better environmental practices than a competitor, you may stand a better chance of landing a contract.
Still not convinced?
CSR Initiatives need to form a part of a company’s DNA in order to work. At Sprint Digital we are lucky that we have the opportunity to focus on many great initiatives, most recently our charity and awareness campaign for International Women’s Day. Socially responsible companies build a strong brand reputation, increase customer loyalty and attract the best employees. These factors help to achieve increased profitability and long-term financial success. What do you have planned for your CSR Initiatives this year?
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