In our days, Corporate Social Responsibility or CSR as its commonly known, is no longer just a feel-good talking point for businesses in the corporate world. Those that are solely focused on their profit margins and market growth than also taking an interest in their social, environmental and economic impact, are falling short of expectations. Employees have long since worked out the difference between social obligation and social responsibility, and the important link between business and society. They now want to work and be part of an organization that gives back to the society its inserted in.
Studies show that doing more than what is necessary as an organization is essential for employee wellbeing too, with 76% of Millennials now considering an organization's social and environmental commitments when deciding where to work, and 88% saying their job is more fulfilling when they are provided opportunities to make a positive impact on social and environmental issues. This is the demand for businesses to be more open about their discretionary activities and maintain acceptable standards of business practice.
In a modern definition, CSR means adopting sustainable business activities that go beyond fulfilling economic functions and legal requirements, and adding environmental, community and social value wherever possible, that’s why CSR is not just about raising money for charities or providing donations but aligning business growth strategies to ethics, in order to establish a sense of community and support what drives change in society.
Employees that work for a CSR organization, tend to be more engaged in their work, have higher productivity and show high levels of satisfaction than the ones that do not.
Many people feeling that their work and personal lives are becoming increasingly blended and posing a threat to the work-life balance, employees are more likely to be more loyal to an organization that helps them contribute to the issues they care about.
That’s why, in addition to providing suitable working conditions, diversity, equity and inclusion policies, mental health support, and addressing complex workplace issues head on, internal CSR activity should also extend to creating meaningful engagement opportunities that line up with the employees’ own social concerns.