Corporate social responsibility has been around for decades and has been quite effective in holding companies accountable for their actions. Today, corporate social responsibility is more important than ever before. To be clear, corporate social responsibility includes such actions as product donations, pro-bono work, financial contributions, eco-friendly practices, employee community service days and many other ways businesses can give back to their communities.
Positive press and social media coverage
There are several ways corporate social responsibility coexists effectively and wonderfully with businesses such as providing positive press and reputation building. One example of providing press and reputation building is positive press and social media coverage; especially when it demonstrates good ethics, good environmental steps and positive actions toward human rights.
Corporate social responsibility appeals to consumers
Another reason why corporate responsibility is so important is because of its appeal to consumers. Consumers are constantly patronizing businesses that are supporting values they like and approve of. Research has been done which shows that most consumers are willing to pay a higher price for products that are sold by responsible businesses.
Talented professionals are drawn to corporate social responsibility
In addition, talented professionals are also driven to a business that is committed to improving the world. In the last decade, potential employees are looking more carefully at businesses that match their core values. Corporate responsibility also leads to greater employee satisfaction and retention.
Corporate social responsibility is inspiring!
Most importantly, corporate social responsibility also inspires other businesses to do the same; both locally and on a global scale. Corporate social responsibility provides other businesses to work with other businesses; which often leads to sustainable relationships, while also contributing to the greater good. Mannatech (https://www.facebook.com/MannatechInc/) is a prime example of a company that has successfully incorporated social responsibility with their Mission 5 Million project where they help children in need receive proper nutrition.
To conclude, corporate social responsibility has been around for decades and has been quite effective in holding companies accountable for their actions. Find out from your HR department about the positive effects of corporate social responsibility!