What is Corporate Social Responsibility?
Corporate social responsibility (CSR) is each company’s commitment to social and environmental issues. Society’s ethical awareness has increased significantly in recent years and people demand and acknowledge responsible practices.
CSR plays an essential role in the long-term development strategy and the overall reputation of a company. Therefore, the organization must be able to recognize and reproduce the values and concerns of its stakeholders. Although corporate social responsibility actions are voluntary and should arise from each company’s goodwill, it is undeniable that they have become a crucial factor to ensure the success of every company.
How does CSR benefit your company?
- CSR improves the image of the company and the bond with their customers and other stakeholders
- Ethical and transparent practices promote credibility in the market and facilitate access to financing
- A good code of ethics and good working conditions attract new talents and ensure employees’ motivation and permanence in the company.
- The implementation of practices and policies focused on sustainability, such as reducing energy consumption or recycling, eventually contribute to reducing the company’s expenses.
- The implementation of a code of ethics and conduct and responsible standards decrease the potential for negative publicity or reputational crises
Why should a company communicate their CSR actions?
In addition to integrating CSR actions into the company’s strategy, it is important to communicate them to catch the public’s attention and generate loyalty among stakeholders. To successfully communicate CSR, the company needs to be clear about what is needed to achieve a better society and how it can contribute, add to and respond to these demands. Once CSR strategies have been implemented, it is important to share them and spread their commitments, since good practices are contagious.
If you need help communicating your sustainable initiatives, we would be more than happy to help.