Corporate Social Responsibility
Developing your Corporate Social Responsibility
We are passionate about the ability business has to make a positive impact in their local community. By working in partnership with businesses, we assist in building links with charities and community groups, involving employees and clients, and ensuring practical, tangible benefits for the business.
Corporate Social Responsibility is no longer viewed as a niche activity, knowledge of corporate responsibility issues within companies has become a key competency for managers across business and industry. Clearly, there is a strong moral case for businesses to try to have a beneficial impact on society, but the business case is hard to ignore.
For more about this contact: rebecca@access-funding.co.uk
Impact on Business – Employees
By having support to implement high impact community involvement, one of the first benefits is the effect on the workforce. Skills sharing is often a key element of employee involvement, and it is always a two way process. We can ensure the employees gain skills and experience that will directly benefit the business. For example we can build key competencies and development areas into employee involvement. 92% of employees say that they would prefer to work for a company with an employee volunteering project than one that doesn’t. CSV Make a Difference Day and Barclays Report in July 2006 showed 42% of companies who allow their staff time off work to volunteer say it helps reduce staff sick days. Employees feeling a greater connection to the company with shared values, increased motivation and productivity. Team building with a community group can lead to higher levels of engagement by the employees as they see their involvement having a real impact, and we can ensure that all the team building objectives are hit. Base 50,000 employees in 2007 found that 86% of employees who agree strongly that their company is active in the local community, feel a strong sense of belonging to their company.
Impact on Business – Company
In the 2007 McKinsey report, 95% of CEOs surveyed said that society now has higher expectations of business taking on public responsibilities than it did five years ago.
From Investing in Responsible Business: The 2003 Survey of European Fund Managers, Financial Analysts and Investor Relations Officer, for 79% of fund managers and analysts surveyed in 2003, the management of social and environmental risks has a positive impact on a company’s market value in the long term.
A direct benefit to your business is in terms of the new ideas and innovation that a close connection with the community can engender. Businesses don't operate in isolation from the rest of society and a stronger link between the two facilitates a better understanding of the market, of who the customers are and how best to service their needs.
Impact on Business – Clients
A strong element with clients is reputation and branding. In an increasingly commoditized marketplace, companies want their products and services to stand out from the crowd. Over 85 per cent of consumers have a more positive image of companies that are seen to be pursuing more responsible business practices and over half of European consumers say they are prepared to pay more for environmentally responsible products. It is a figure which is borne out by the rapid growth in the market for fair trade products. A quarter of the poll in the 2005 MORI study reported that they had advised another person for/against a company because of their corporate responsibility policies. The CSR element can be a key differentiator. Businesses want to work with other businesses that reflect their own values and attitudes - and those of their customers. The British Chamber of Commerce in 2005 found that despite the poor image and bad press of big business in recent times, polls suggest that people retain a belief in the ability of business to provide a positive contribution to society.
In the report The Public's Views of Corporate Responsibility by Mori in 2005, a third of people in the UK say companies' responsibility is very important to their purchasing decisions. A quarter of the public has participated in cause marketing – buying a product because of an established link to a charitable organisation. Around one in five has chosen a product because of a company’s ethical reputation and conversely a similar proportion has boycotted a company’s product on ethical grounds.
CSR and viability in terms of long-term profitability are in fact two sides of the same coin. CSR and viability result in a virtuous cycle in the sense that they are mutually reinforcing - the more financially successful a business is the better the ability to undertake CSR, and the higher level of CSR in turn leads to increased support and patronage from stakeholders with better consequent long run performance.
Unique, Independent Information and Practical Advice
We can help you integrate effective corporate responsibility into your business. Our consulting support helps you to invest in your own community through developing:
- Corporate social responsibility policy
- Employee involvement
- Sharing expertise, time and skills
- Financial donations
- Payroll giving
- Gifts in kind
- Effective partnerships
- Linking brands to causes
- Team building volunteering
- Accurate measuring of your impact
For more information, please contact us at: rebecca@access-funding.co.uk