Thursday November 12, 2015
Caroline White, UX Designer for Purple Cubed, discusses how CSR boosts the ‘triple bottom line’ - people, planet, profit.
Everyone seems to be at it these days. From McDonald’s sponsored initiatives like Capital Clean-up, to CSR meet up groups, to organisations like Thrive who use gardening to change lives – corporate volunteering and CSR has never been so big. I even have a friend who works for Elsevier who offer employees two paid days per year to volunteer for charity.
In our last blog on CSR we pointed out the following benefits:
- Promotes inclusivity and variation in the workplace
- Gives employees ad-hoc development and allows them to learn new skills
- Gives people a sense of belonging and greater good and a deeper affiliation for the organisation
These are great and have proven to send employee engagement levels soaring, though how does this affect the bottom line?
According to Forbes ‘your willingness to buy, recommend, work for, and invest in a company is driven 60% by your perceptions of the company—or its reputation, and only 40% by your perceptions of the products or services it sells’. The Reputation Institute report yearly on US companies with the best CSR and it is no coincidence that the top three for 2015 are industry leaders - Amazon, Lego and Levi Strauss. People trust that these companies will look after them and also the environment within which they operate, encouraging investment. As an example, Reuters report that Amazon has recorded record sales this year with total net sales rising 23.2% to $25.36 billion. Some of their projects include making sure products have less packaging and that it is all 100% recyclable, to supporting other organisations with cash and product donations.
CSR is a no brainer. Who can argue with something that hits the triple bottom line, increases employee engagement, boosts profits and actually does some good for the world too? What CSR initiatives are there in your company?