A new year, a new decade. In 2020, involved consumers are focused on reaching their personal, health, and professional goals. Similarly, while they do so, more and more of them are aligning with companies or brands that prioritize corporate social responsibility (CSR).
Nearly 90 percent of
Americans will purchase from a company because it advocated for an issue they
care about, according to a study. In addition, 76 percent will refuse to buy a
company’s products or services if they learn the company supported an issue
contrary to their beliefs.
As your business does
some first-of-the-year reflecting, it’s important to ensure that its brand
model reflects issues important to you and your audience. Company goals must
consider more than economic metrics, they must also benefit stakeholders and
the public.
Here are five ways to
do so.
Volunteer
Companies are seeing
benefits in offering volunteer days to their employees. This not only builds
camaraderie within the company, it also spreads your company’s visibility among
the supporters of the charity. TransUnion, for example, provides employees with
a Volunteer Time Off day each year and matches donations up to $2,000 each for
a cause close to their associates.
Invest in Social and Environmental Initiatives
Companies can support
local and national organizations by donating directly or holding events in
honor of a cause. You can also use your voice to help educate your audience on
the issue and ways they can help. Some organizations encourage employees to
donate a portion of their paycheck to particular causes in education, income,
and health.
Practice Ethical Labor
The job market change
constantly. Potential job applicants and current employees are looking for
companies that practice what they preach in and out of the office. To ensure
that your company attracts the best talent and maintains high morale, find
opportunities to improve brand confidence. Offer competitive perks, provide a
comfortable workspace, and look for ways to engage employees. Netflix provides employees
with 52 weeks of paid parental leave. In addition, team members are able to
take advantage of this perk at any point during their new child’s life.
Promote Philanthropy
Establish an in-house
mission to create change. Form a social responsibility team and encourage it to
lead your company in giving back to the community. For instance, Patagonia
works in multiple ways to inspire its team members to give back. In addition,
it partners with companies to bolster economic and environmental change.
Be Environmentally Conscious
Increasingly consumers
are looking for ways to lessen their environmental impact. In many cases, they
are supporting brands and businesses that are doing the same. With 30+ years of
working to reduce its environmental impact on the planet, Johnson & Johnson
looks to produce 35 percent of its energy from renewable sources through the
purchase of private energy suppliers and other initiatives.
Carbon Footprint Tips
Businesses can make
seamless changes within their structures to reduce their carbon footprint. A
slew of companies are doing so. The airlines and Microsoft, for example. Ways
your business can make a difference include: increasing recycling, decreasing
energy and water use, enhancing waste management practices by going paperless,
composting, eliminating bottled water, reducing plastic, and embracing
eco-friendly travel policies. These policies include flying nonstop to reduce
emissions, taking public transportation, carpooling, offering benefits for
hybrid cars and staying at green hotels.
Innovative Financial Advisors Pvt. Ltd. (Fiinovation) is a global consulting firm
operating in multiple disciplines of the social development sector with
emphasis on Corporate Social Responsibility (CSR) and Sustainability.
Fiinovation offers end to end CSR consulting services and simplified solutions
that has helped various corporations channelize their resources for
the upliftment of community on societal, economic and ecological aspects
in accordance to their CSR charter. Since 2008, Fiinovation has grown phenomenally and has
made a benchmark in the sector through its service quality. It has been
able to bridge the gap between businesses and communities through
value-based CSR programmes in association with credible civil society
organizations on pan India basis in the field of health, environment,
education, and livelihood
Fiinovation CEO : Dr Soumitro
Chakraborty, Chief Executive Officer of Innovative Financial
Advisors Pvt. Ltd. (Fiinovation), was conferred with ‘CEO of the
year’ award at the 8th World CSR Congress held in Mumbai on
February 18.
The
World CSR Congress this year focused on the integration of
Sustainable Development Goals (SDGs) in corporate strategies, innovation, and
strategic alliances. The award recognizes fiinovation
projects
exemplary work in the social development sector and noteworthy CSR and
sustainability programmes.
Fiinovation Delhi NGO
address - 24/30, Ground Floor, Okhla Industrial Estate Phase 3 Rd, New Delhi,
Delhi 110020
