Why is Corporate Social Responsibility Important?
Corporate Social Responsibility (CSR) has become increasingly valuable to companies as a new workforce. But why is it important?
According to Double the Donation, Corporate Social Responsibility, which includes assisting nonprofits, helps to strengthen a company’s public image, as well as boost employee engagement and satisfaction with the company.
In an article for the New York Times, Salesforce CEO, Marc Benioff, says “business must have a purpose beyond profits, and that such purpose can, over time, benefit both stockholders and stakeholders.” Corporate Social Responsibility is a great way for companies to improve their public image with their stakeholders while benefiting local nonprofit organizations. According to the Hub, CSR proves that your business values the world in which you operate. Furthermore, in a study done by Cone, it was demonstrated that 91% of global consumers expect businesses address issues in their community, and 84% of consumers said they make an effort to use products from companies who have a CSR program.
The CEO of 3M, Mike Roman, discussed his employees work ethic and time commitments and said “I’m proud of the way they balance their time. They choose, often as a top priority, to contribute to the community. I love to see not just the activities, but the impact that we have.” For employees, CSR has become increasingly important when selecting a job, and many people search for companies who have the same mentality of Mike Roman when it comes to their employees. According to Conscious Company, as millennials enter the workforce, they are searching for positions with “high impact” organizations. In a survey done by Net Impact, 72% of students preparing to enter the job force said that they wanted a job that allowed employees to make a difference in the community. By participating in CSR, companies will make themselves more marketable and attractive to this new wave of prospective employees, as well as increasing the happiness and satisfaction of their current employees.
According to Smart Recruiters, companies like IBM, 3M, General Electric, and Salesforce have already adopted strong CSR Initiatives.
At Care For Friends, we have “Corporate Thursdays” where a volunteer group from various companies come in and prepare a hot meal and then serve them to our guests. In addition to the meal-prepping and serving, our volunteers also have the opportunity to sit down with our guests and engage in a game of chess or checkers in our Activity Center. This time with the guests allows volunteers to get to know our guests and learn about their experiences. It also provides the opportunity for the dismantling of the common stereotypes surrounding homelessness as volunteers and guests interact with each other. This service opportunity provides our corporate volunteers a great team building experience and feel as though they are making a difference.
We already have some awesome corporate groups who volunteer their time on Thursdays to help make and serve meals for our guests. Companies like Graymont Medical, Salesforce , and Conagra Brands have donated their time at Care For Friends and made the effort to give back to their community. Through their time spent at CFF, their employees have been able to see the difference they were making while bonding and getting to know their coworkers.
Corporate Social Responsibility is a great way for your company to get involved in organizations around your business and give back to the community. It is also a great way for you to retain and strengthen your company’s workforce while making a difference in the communities your employees live in.
If your company is interested in volunteering with Care For Friends, please reach out to us at (773)-932-1010. We would love to work with you! Check out some of our groups that have already volunteered with us on Instagram!