Responsibility | The Role of CSR in a Successful People Strategy

Corporate Social Responsibility (CSR) has evolved over recent years.  From a start-point of reducing environmental impact and costs it now represents a more expansive view of business being a force for good and making a positive contribution to local communities and the wider world.

As a result, CSR is increasingly being incorporated into business plans and built into organisations’ purpose. In well-established businesses it is being used to refresh strategy and as a tool for differentiation. For challenger brands CSR offers a foundation upon which products and messaging are built.

While some companies worry that CSR could threaten financial performance, a growing body of evidence suggests it actually provides numerous benefits and goes hand-in-hand with sustained growth and profitability. When you look at the areas that are touched by CSR – workplace, community, environment, marketplace – it is easy to see why this is the case. Some obvious examples of commercial benefit include savings through smarter energy use and waste reduction, but more unexpected results include the positive effect on employee productivity and talent retention.

Companies that embrace CSR often develop a highly engaged culture, providing meaning and purpose for employees and greater job satisfaction. Employees that are fully involved in and supportive of a company’s CSR strategy often experience a greater sense of pride in the business they work for, are more likely to engage in co-operative behaviours and feel more inspired to develop new and better ways of working. CSR often fosters a greater commitment to the organisation and a willingness to go the extra mile.