Heather DeSantis CEO, Publicity For Good
In a time of brand transparency, understanding where a product comes from, how it’s made and what the company believes in, corporate responsibility is an initiative that must be a part of every corporation.
So many studies show that when corporations embrace corporate responsibility, not only does it benefit the bottom line, but it also helps with employee retention. Time and time again has shown and proven that millennials and even new age workers are more concerned about the company they work for and the company’s altruistic systems and that having the company aligned with what the company sells is extremely important to them. More than 80% of millennials in the United States believe a business needs to have a genuine purpose to be successful and nearly 80 percent of them say the values of their employer have to match their own, according to Redefining the C-Suite: Business the Millennial Way.
With millennials becoming an increasingly larger part of the workforce population, it’s imperative that corporations and executives see this and work together as a company towards shared goals that not only impact the bottom line but also company culture.
For executives and CEOs who are numbers driven, consumer statistics support this approach as well. According to a Cone Communications study on Brands and Social Activism, “87% will purchase a product because a company advocated for an issue they cared about.”
Corporate Social Responsibility can be seen in so many different areas. In recent news, with Walmart switching to LED lights in its parking lot, not only is it good for the environment but it will save hundreds of millions in energy costs. Corporate responsibility can be anything related to social, government or environment, but in addition the company needs to live fully in alignment with what the company is selling. For example, if it’s a meat company, they should eat meat. If top leadership doesn’t even like the product, that is not in alignment.
Employee treatment also needs to be a part of the corporate responsibility plan. According to Conscious Company Media, anytime a company has a strong CSR program, there are six benefits.
1. Improved employee relationships.
2. Increased organizational citizenship.
3. Higher retention. Employees feel like they’re part of a mission, which leads to a stronger emotional commitment to the organization.
4. Higher ability to attract top talent due to company culture. 72% of students that were entering the workforce said they were looking for a job where they could make an impact and how that was important for their happiness.
5. Better employee engagement and performance.
6. Employees are more creative.
#GIVINGTUESDAY a trending social media holiday that kicks off after Thanksgiving is an international movement to create an international day of giving. With Giving Tuesday, nonprofits and local organizations are using social media to encourage people to financially give back regardless of the amount.
With so much gift-giving among co-workers, there is a better impact and it’s more meaningful if the employer or business participates in Giving Tuesday, whether internally challenging people to donate $1 to a local charity or organizing a visit to a place in the local community to volunteer or to give back.
Giving Tuesday is a social media frenzy where so many are using the trending hashtag and vying for donations. Now is a great time for organizations to open the conversation about CSR and your workforce.