Corporate Social Responsibility holds a lot of meaning in an organization, from planned programs which are in line with the Corporate CSR policy & processes to being an entity that takes employee participation seriously. Since CSR is so diverse and can be of aid for the ones who ‘really’ need the help, organizations must understand the real process involved in infusing a healthy CSR-based vision into the company’s ethos.
Considering the importance of good corporate social responsibility, in today’s climate, many businesses are making CSR their primary business strategy. Not only does it help the downtrodden, but the organization itself. Here’s how this will make it work.
THE STEPS
- Introduce the concept
- Create a plan that is based on your company’s core competencies
Supporting a cause that corresponds with a company’s skills, research, and understanding in a certain area will be helpful for community partners as well as a win for the company in terms of additional customer visibility and revenue streams.
- Identify the benefits
It’s important to devote a significant amount of time to researching and identifying the advantages of CSR. Once you’ve figured out how CSR can benefit you; you can use that information to guide your business case.
- Understand the issues that concern your clients
Consumers are more likely to buy a product when the company supports a social or environmental concern that they care about. They could appreciate socially responsible businesses, thus leading to brand loyalty, donations to charities supported by the business, and purchases of products with a social benefit.
- Set goals
These goals will demonstrate that your approach is having a beneficial influence on your company and that your CSR program is on track. The goals can be more KPI-orientated, like employee levels of engagement, lower customer churn, or online brand sentiment.
- Obtaining project approval
Make a business case for implementing a CSR strategy and highlight all of the potential benefits that a unique CSR project might bring to your company.
- Perform your initial research and plan
This step entails investigating social and environmental activities that you believe will complement your company’s mission and vision, as well as those that respond to employee values.
- Create a CSR program that your employees will also be proud of
Employees that are involved are more likely to stay with a company for a longer period of time, lowering attrition costs. They see their workplace as a place where they can make a good difference in social and environmental challenges. These programs might range from paid volunteer time off to company-wide service days to skill-based virtual volunteering possibilities.
- Communicate your CSR campaign
You only have one chance to launch it as effectively as possible, so now is the time to make the most of it. Your CSR launch needs to be communicated clearly to the right stakeholders, which include employees, shareholders or investors, external stakeholders, partners, local communities, the press, customers, and lastly, your fans and followers.
- Ensure the success of your program
For the final process, the company needs to maintain the CSR campaign or campaigns. It is also important to collaborate with your implementing partner on the project. Your management expertise and domain knowledge will go a long way in ensuring its success while adding to the capability of the implementing partner. Collecting qualitative input in addition to quantitative feedback is also a good decision to maintain the program.
- Prepare yourself to react quickly to current events and social movements
Your CSR work must be adaptable to be sustainable. Modifying budgets, diverting time expenditures, and rapidly selecting trusted nonprofit partners to launch new initiatives.
Sources:
- https://alayagood.com/guide/corporate-social-responsibility/strategy/
- https://www.globalgiving.org/learn/steps-to-sustainable-csr/