As Public Health, Social & Environmental Issues Intensify, CSR Emerges Into a Business Governance and Ethics System That No Company Can Ignore

Corporate Social Responsibility (CSR) is all about the companies playing responsibly and giving back to society. A company’s efforts towards improving society and contributing towards sustainable development is referred to as Corporate Social Responsibility (CSR). It is also called as corporate citizenship or corporate conscience and includes various initiatives run by the businesses towards evaluating and taking responsibility of their impact on several issues varying from environment to human rights. It is a kind of self-regulatory plan with initiatives focused on achieving environmental, social and economic benefits for all the involved stakeholders including investors, consumers, employees and various other groups.

CSR provides businesses with an opportunity to strengthen their relations with various stakeholders at different levels who play an integral role in developing strategies and partnerships of the company. One of the most popular CSR programs followed by companies is the “Matching Gifts”. Nearly 12% of all corporate cash contributions to non-profits are through this program. Companies match their employee donations by a 1:1 or 2:1 or even a 3:1 ratio. Nearly 65% of Fortune 500 companies offer this type of matching gift program. This allows them to raise significant funds for worthy causes. Significant donations can be leveraged through CSR by automating the process of matching gift submissions. CSR databases can simplify the process and enhance the contribution.

The role of corporate social responsibility is expected to get bigger in the coming years as CSR’s importance takes precedence over a majority of other assorted organizational initiatives. As an essential global strategy, CSR can help companies improve their performance and become more agile. The improvements can include differentiating from competitors by developing a unique eco-friendly brand, achieve financial savings, control environmental risks in a better manner, and attract and retain employees and financial partners. Among large companies, only those that truly realized the importance of their relationship with their suppliers, local communities, and employees and accordingly transformed their organization in the best possible manner, are now sufficiently agile to cope with climate change challenges and contribute to social development and wellbeing.

It’s good for HR leaders to keep on top of the latest in philanthropy and corporate social responsibility trends to move with changing times. The millennials and Gen Z often check if a company supports environmental and social issues even before applying for a job. Consumers of products are also interested in knowing how companies support charitable causes. Consumers now expect companies to be vocal about social justice issues and companies which do so have a greater chance to create brand value. CEOs now agree that environmental and societal changes have an impact on companies. CEOs and directors also believe that the aim of companies shouldn’t be only to make money.

Nearly 80% of the companies are taking action to support the United Nations Sustainable Development Goals (UN SDGs) and nearly half of them are tracking the progress. Large companies usually donate to causes such as higher education, economic and community development, health and social services while small companies generally donate to local charities and support local first responders, and youth organizations.

Are you really keeping up with the future of Corporate Social Responsibility (CSR)? Is CSR integrated into your company’s DNA or are you just writing out cheques?

How much do you know about Personalized Philanthropy or Gamified Giving or Carbon-Neutral Everything or Diversity in Action and what's in your employee policies?

Get ready for your company’s boldest CSR move in 2025 and give your product or service a purpose driven branding.

Read all about CSR trends, best practices, and key movers in this ecosystem in our newly updated report on “Corporate Social Responsibility (CSR) & Employee Matching” http://surl.li/palqhx This report provides you with real data and actionable insights vital to getting ahead and staying ahead in this emerging era where CSR is equal to driving change, inspiring action, building a better future and making profits with a purpose.

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