People are now asking more and more questions about how companies make their products and want to know where the materials come from. Potential customers are now more likely to choose a supplier that has embraced corporate social responsibility.
Academic studies have shown that a company that operates directly with social responsibility is likely to have better business results than those that do not.
“A 1997 DePaul University study found that companies with a defined corporate commitment to ethical principles perform better financially (based on annual sales/revenue) than companies that do not.”
Corporate Social Responsibility is still voluntary, but as more people are becoming aware, they are interested in buying products and supplies only from companies that actively practice CSR.
The unfortunate thing is that a large percentage of companies believe that integrating their business with CSR in mind would be too costly. However, this is a misconception.
Being aware of how we are affecting the environment, such as using too much water, leaving lights on, leaving windows open, not recycling or using non-recycled materials, actually costs companies more than if they had to practice corporate social responsibility.
CSR is not a legal requirement; however, it has its benefits.
Taking company-level responsibility for the environment shows credibility and can help a company’s reputation and build trust with its customers. Although this should not be the main reason for social responsibility, these are the benefits that are being proposed to companies that are not yet environmentally friendly.
To give an example of how CSR can affect a company, if a large company looks for a company that sells stationery to be its only supplier, but is only interested in recycled products, immediately, all those who do not offer recycled products have been lost. a great potential customer.
CSR gives a positive image to potential customers considering business relationships. Social responsibility shows that you are aware of changes in the environment and that you are taking positive steps to help the economy.
CSR is not only something that companies should consider for their customers, but also for their employees. Human rights and CRS go hand in hand.
All employees have the right to work in a safe and friendly environment. Managers and directors must take responsibility for ensuring the safety of their employees. People have no desire to work in an environment that creates risks.
A recent study by the Cherenson Group showed that 78% of employees would rather work for a reputable and ethical company than receive a higher salary.
Creating a safe work environment engages employees and increases productivity, as taking responsibility for the environment builds credibility and trust among staff.
Introducing Corporate Social Responsibility in your business life helps your business, productivity and image, as well as leaving behind your competitors who currently do not practice CSR.