CORPORATE SOCIAL RESPONSIBILITY WILL ONLY GROW IN IMPORTANCE
Written by Claire Thayers
False claims by VW, unethical banks, politicians lies…. so how does that relate to Corporate Social Responsibility - the new buzzwords in the world of business. Claire Thayers explains the meaning behind the words
The days of businesses being driven simply by the bottom line have gone, as we have all seen by the recent news, major brands misleading consumers, tax avoidance - businesses simply thinking about money, and not being ethical.
The world is a smaller place now, with social media – good news travels fast, but bad news travels even faster, and brands can be here today and gone tomorrow as people stop supporting brands that they can no longer trust.
Big businesses have been aware of social responsibility, but SME’s have been slow to see the benefits, but with the Public Services (Social Values) Act 2012, the tide is turning, and increasingly companies will have to have a CSR (corporate social responsibility) policy in place, in order to tender for work!
But this is not a box ticking exercise – CSR should be built in and not a bolt on, everyone has to believe in the values and the beliefs of the people in the business, and of the brand, and driven by everyone.
The upside is that by investing a little time, the rewards are tremendous! Taking time to support local schools, volunteering in the community, free advice to charities, not only improves staff morale, builds teams but the PR and social media opportunities are amazing, and when driven by the community far more powerful and cost effective than any advert – which can cost thousands!
One law firm in London has found that supporting disadvantaged students and sponsoring them through university has resulted in 22 loyal, dedicated, hardworking lawyers who are committed to their firm, and passionate that the businesses is successful so that others may benefit as they have. May sound expensive but with the firm worked out the cost of head hunters, it has saved the partners a fortune, and are proud to have a sustainable business model as they continue to bring in apprentices, who are more loyal as a result
Win… win for all!
CSR is here to stay – with the challenging times ahead of us, especially with the recent lies associated with the EU referendum, possible recession, climate change, sustainability is key, so it is time for us all to pull together, to support each other – the ethical businesses will survive, but those with lesser values, are high risk!
Technology has changed our world and transparency is key – but if it wins you business why wouldn’t you embrace this new way of working?
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