5 Ways to Incorporate Corporate Social Responsibility (CSR)
For the success of a business, many Entrepreneurs consider becoming more corporate socially responsible when it comes to the way they handle the ins and outs of their respective business. Corporate responsibility is the way a company takes responsibility for its actions and their impact on employees, stakeholders, and communities (BDC, 2021). This is something many entrepreneurs may want to look into because many consumers place a large value on those businesses that are CSR approved. As consumers, we all know that we must support a business that is not only providing great product/service but also making a positive impact on society. For example, the growing consciousness of climate change is empowering consumers to be more mindful and demand more from their favourite brands and companies. (Stankovic, 2019). With that being said, 1 in 3 consumers are aware about what CSR means. (Stankovic, 2019).
In today’s article, we will be discussing the 5 ways companies can be more corporate socially responsible.
1. Create a code of ethics
A business code of ethics is extremely important, it is a document that is created to guide professionals conduct their businesses with more honesty, and integrity (Hayes, 2020). It is a guide that highlights exactly how a business should deal with problems that arise in the company, various ethical principles based on the businesses core values, and the standards to which the business is held. (Hayes, 2020). This gives employees a reason to feel safe working in the company, knowing that any issue that arises within the organization will be handled in a fair and just way.
2. Be more environmentally friendly
This is such an important topic for consumers, and automatically should be for company leaders. There are various ways companies can care more about the environment by recycling their parts more, getting more reusable and sustainable parts from oversees and finding ways to incorporate more plastic into their daily lives. This not only helps the planet, but it also helps the company not waste their money on buying unnecessary, expensive materials from elsewhere in the world.
3. Take workplace health and safety seriously
This is so important for the health and safety of your employees. A good company will always start off with teaching their employees what some of the health and safety rules are, who they can call if they get injured on the job and some of the ways they can be safe. It is the employees right to be able to feel safe on the job, and the more health and safety precautions are taken to ensure the wellbeing of the employees, the better your work environment will look to the general public. The last thing a good company wants is their employees speaking poorly in regard to the inside system of their organization.
4. Protect the environment
Most companies, at the end of the year, reveal a sustainability report to the general public about certain actions they took regarding the environment; this includes what actions they took in that year to better the environment and fight social, economic, and environmental activities. When consumers know that companies are actively trying their best to make the world an overall better place, and one of their main goals is to better the environment, it will automatically make them more attractive to consumers eyes. Every consumer wants to know that they are putting money into a company that has a main focus on environmental change.
5. Participate in Charity events
Everyone appreciates a company that participates in charity events and donates to different organizations. This usually shows consumers that your company cares about the injustices that are going on in the world and that you as a company care enough to donate and make a change. Your company’s charitable donations can help make a difference in schools, shelters, old homes, daycares, parks, building a street, and even providing the homeless with an education. In the end, you are shown as a company leader with good values, your employees will look up to, and your consumers will remain loyal to you.
The final message
As a whole, consumers are more attracted to companies that have a good history and have good morals when it comes to producing their products/services to the world. In the end, when a company has a good track record, they are able to attract people into their business that have the same views as them and obtain true leadership, goal-oriented, innovative behaviour (BDC, 2021). If a company shows that it cares about the world outside of its own small corporate office and is serious about making the world a better place, it is sure to succeed compared to a business that does not develop corporate social responsibility within its company. By implementing the 5 tips suggested above, your own business can be a step closer to successfully achieving CSR.