How Your Small Business Can Benefit from a CSR Initiative

 

With the workforce becoming more and more competitive, enterprises that are looking to attract and retain the best talents must invest in effective strategies that prospective employees find appealing, while also providing an engaging and fulfilling work environment.

Practicing CSR (Corporate Social Responsibility) is a tried-and-tested strategy for enhancing employee engagement. Sadly, in the corporate world, there’s a common misconception that CSR is an extremely expensive practice that only large corporations can invest in. 

Well, that’s not true at all. It’s not only perfectly possible for SMEs to integrate CSR into their business strategy, but it can actually benefit them in a number of areas. Here are three of them.

Higher Sales, Enhanced Valuation, and Improved Public Image

The buying public today is mostly millennials, who prefer to spend their money on brands and companies with a social conscience. 

A recent study from the Weber Shandwick/KRC Research revealed that around 50% of consumers buy from brands that care about their well-being (43%) and make them feel happy and good (46%). 

Considering these compelling statistics, the need for brands and businesses to stand for buyer ideals has never been so critical.

Therefore, SMB owners that serve a local community should think about integrating CSR into their business strategy as well—regardless of the size of their enterprise.

Increased Employee Satisfaction

A common way company’ integrate CSR into their strategy is by providing employees with paid time away from work to volunteer at non-profit organizations in the community. 

This type of initiative not only shows that your brand is committed to making a positive difference to the community, but it also shows your employees that they’re valued.

Moreover, skill-based volunteerism provides your staff with the opportunity to hone their leadership and professional skills, while providing a much-needed helping hand to the community.

Helps Create a Pipeline For New Customers

Community engagement is another way in which SMBs can practice corporate social responsibility. This can be done by building relationships with local non-profit organizations and community leaders.

 This not only puts your brand in a position to make a positive impact on the community, but also enhances your brand’s image, ultimately creating a pipeline of new customers.

Give Back To The Community By Donating

Founded by Dr. Robert Fomer in 2011, Youth With A Future is an organization that aims to mobilize the youth with initiatives based on the eight core values of essential Christian Leadership. 

The non-profit routinely offers training opportunities, internships, and workshops to develop various life skills.

If you own an SMB are looking to make a positive impact on your community through a CSR initiative, consider making a donation to our youth leadership growth and development programs. Get in touch with them to learn more.