CSR not only benefits communities. It also provides businesses with new and varied opportunities and can often be of mutual benefit for both businesses and the community. By demonstrating a commitment to CSR, companies can source a wide range of government grants and funding. Among millennial consumers, a growing and increasingly important customer demographic, this number rises to 73 per cent.
Millennial consumers exhibit a trend of loyalty to brands that cater to their values and social attitudes. This means that effective CSR practices can help companies make long-term customers of millennial shoppers, through the active demonstration of values held by the broader community. This offers strong evidence that a demonstrated commitment to CSR can make a company more profitable.
Effective CSR practices can also help shape positive consumer perceptions of brands and companies. Sustainability, environmental protection and minimising corporate impact on the environment, are key aspects of modern CSR. At the same time, corporate acceptance of these ideas and values is essential to the long-term future of our planet. The process of developing these goals involved significant corporate engagement, which acknowledged the power of corporations in effecting social change as identified by business experts.
Further evidence of engagement with the corporate sector in the development of this programme, is seen in the fact that more than 30 Australian CEOs signed a statement in support of the SDGs.
For Australian companies seeking to develop effective CSR practices, SDG 12 and 15 are particularly relevant, as environmental degradation and the impacts of climate change are important contemporary issues. Internationally, there are examples of many major companies engaging in effective and productive CSR programmes.
In , it became apparent that a number of Bitterns were using rice fields in the Riverina region of NSW as a substitute habitat, in the face of their traditional habitat being destroyed by the effects of urbanisation. The RGA addressed this matter by facilitating cooperation between its members, applicable government agencies and community groups, to work on understanding Bittern ecology and feeding habits.
The collaboration produced data indicating that Bitterns could continue to adopt the area as their habitat. The Bitterns in Rice project is an example of exemplary CSR practice and serves as proof of the compatibility of rice farming with environmental biodiversity and a healthy environment.
Even though corporate social responsibility is not a mandated practice in the United States, counting all the benefits that will come with it, companies should take it as a necessity and start working today to become socially responsible. By Yujing Lin April 26, It enhances positive relationships As the company builds public trust, it also builds a sense of community among its consumers. Sustainability This is one of the most important long-term benefits for a business.
Encourage professional and personal growth When companies have a culture of corporate social responsibility, they can easily promote volunteerism to their employees and encourage them to donate to nonprofits. See how you can integrate CSR into your corporate strategy. Learn More. Share on facebook.
Share on linkedin. Share on twitter. Share on reddit. Yujing Lin. She is an avid writer and lover of journalism. Get the Latest Energy News! First Name. Last Name. The way a company treats its community says a lot about how a company treats its employees. People that feel respected and supported in their jobs are often more productive and satisfied at work. Giving your employees opportunities to volunteer, especially during working hours, creates a sense of community within your organization, as well as a connection to the surrounding community.
Employees will gain motivation and pride in their work through these personal-development opportunities. Employees that are actively involved in the community are also acting as brand ambassadors.
The more engaged and invested they are in your organization, and the greater community, the more productive they will be. What could be better than happy employees promoting your brand while helping their neighbors? Think about it: Consumers feel good when they buy products and services from companies that are helping their community.
Tweet, post, and share your social programs. Customers are more likely to be loyal to your brand if your corporate values align with their personal ones.
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