The importance of Corporate Social Responsibility in business

Corporate social responsibility, often known as CSR, describes the approach and policies a business adopts to address and improve social, cultural and environmental issues.  It’s a concept which has risen in prominence during recent years – CSR models promote innovation, change and progress, whilst benefiting those who are less privileged and fortunate than ourselves.

From a personnel perspective, corporate social responsibility gives employees opportunities to contribute towards local initiatives or environmental issues, creating a sense of purpose, developing bonds, strengthening relationships and an overall sense of wellbeing.   

The importance of Corporate Social Responsibility 

An effective CSR policy has advantages to businesses, employees and wider society and is vital to success. Organisations which fail to promote CSR run the risk of being considered unethical - their reputation suffers, and their profit levels decrease.  Nowadays consumers prefer to buy from companies that follow ethical practices that mirror their own beliefs and ideals which is why corporate social responsibility makes good business sense.

Today’s millennials are also selecting to work for companies with strong CSR values.  A recent survey undertaken by Deloitte found that over 70 per cent of millennials acknowledged that a company’s CSR policy influenced their decision to work there.  They want to play their part in social and environmental change – they want to make a difference.  In order to attract and retain talent, companies must therefore embrace CSR.

Benefits of successful Corporate Social Responsibility 

So what are the real benefits of CSR and why should businesses like yours take the time to establish CSR initiatives?

  • Reputation – People judge businesses by their public image.  Any business which actively encourages its colleagues to volunteer and support local events will be seen as being committed to helping others.  This goes a long way in helping to build a good reputation and appealing to prospective employees and customers alike. 
  • Brand awareness - Hand in hand with building a good reputation is brand awareness.  Word of mouth travels fast, and as more people become aware of your brand the number of business opportunities available to you increase.
  • Competitive edge – Making a positive effort to engage in CSR initiatives is a great way to stand out from the crowd and gain a competitive edge.
  • Potential cost savings - The war on waste and the detrimental effects of excess packaging is an area where adopting simple changes aligned to the four R’s of sustainability - recycling, reusing, reducing and recovering – are likely to result in significant long-term cost savings.
  • Benefits for employees – Employees like working for ethical businesses.  Enabling them to take part in local initiatives also gives them a greater sense of purpose and satisfaction in knowing their contributions are valued.  Natural team bonding occurs, friendships are enhanced, confidence levels are increased, and employees learn new skills and talents.  

Corporate social responsibility is gaining recognition as a vital element of commercial life as opposed to being merely a passing trend or fad.  Businesses which stay relevant to the demands of their employees, have a passion for increasing the lives of the underprivileged and actively seek to gain credibility as responsible ethical members of the community will ultimately reap the benefits of their CSR policies.

In today’s economic climate, the more relevant and appropriate question would surely be - can your business really afford not to embrace corporate social responsibility?       

What CSR initiatives does Kingdom operate? 

Our commitment to the local community is at the heart of what we do. Not only do we like to recruit local talent, but we’re actively involved with Wigan Athletic and Wigan Youth Zone to give “young people with somewhere to go, something to do and someone to talk to”.

Our colleagues are also encouraged to give something back to the community through charitable giving. Our team participate in everything from eye-watering feats of physical endurance such as Iron Man competitions to donating Saturday afternoons to read to the elderly in care homes. Our CEO Terry ran the Manchester 10k this year with his son, Rob, to raise money for Ovarian Cancer.

The environment is also something that is close to Kingdom’s heart and we’ve joined forces with Clean Up Britain to help promote green messages and actions across the UK.

So how do you build your own plan for CSR?

There are no hard and fast rules for this – but here are four tips to get you started:

  1. Look at what’s close to your heart, whether its charitable giving, the environment or social causes and figure out what you could do in support of these. The chances are you already are doing something that falls under the CSR label, it’s just not been formalised into a CSR programme. 
  2. Ask your team what gets their blood pumping and give them ownership of the programme (perhaps through a social and charities committee) to maximise engagement.  
  3. Develop a 12 month plan of activity and keep it light – nobody likes to be forced into doing anything.  
  4. Just get started – it’ll soon become second nature.  

For more information about Kingdom, our commitment to CSR and the services we offer visit Rate this posting:

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