[Workplace Culture, Growth, Leadership]
module_1684077620100152
resource-center/what-makes-csr-companies-attractive
module_1684077620100152
resource-center/what-makes-csr-companies-attractive
module_1684077620100152
resource-center/what-makes-csr-companies-attractive

Having a well-designed CSR program can have positive effects on companies, employees, and consumers alike. For instance, companies can enhance their operational efficiency by reducing packaging or using less energy, thereby cutting costs while contributing to protecting the environment.

In addition, CSR can create a competitive advantage in the market, as many consumers prefer to support companies known for their ethical and social responsibility. According to a 2023 consumer survey by Apiday, 75% expressed a likelihood to begin patronizing a business that endorses a cause they believe in, while 71% desired that companies adopt positions on social issues.

Screenshot 2023-05-03 165639Sources:

https://www.businesswire.com/news/home/20191002005697/en/Consumers-Expect-the-Brands-they-Support-to-be-Socially-Responsible

https://www.aflac.com/docs/about-aflac/csr-survey-as-sets/2019-aflac-csr-infographic-and-survey.pdf

Practical Ways CSR Companies Attract Customers

Now that we know what makes a company socially responsible–let us explore the practical ways these companies attract and retain customers.

Screenshot 2023-05-03 165835

  • Establishing Brand Purpose: Companies should have a clear and compelling brand purpose that aligns with the values and aspirations of their customers. Such a purpose should be authentic and communicated clearly through all marketing channels.
  • Sustainability: Socially responsible companies attract and retain customers by emphasizing their commitment to sustainability. This can be done through eco-friendly product lines, reducing waste and energy consumption, sourcing materials from sustainable sources, and implementing sustainable practices throughout the supply chain.  By doing so, companies can appeal to consumers who value environmental sustainability and attract employees who are passionate about making a positive impact on the world.
  • Customer Engagement: Engage with customers directly through social media or other platforms. By sharing updates on their initiatives and impact, companies can build relationships with customers and create a sense of investment in the company's mission. In addition, they can conduct cause-related marketing and customer education.
  • Transparency: A socially responsible company is transparent about its business practices and their impact on society, the environment, and the economy. Such transparency builds customer trust and demonstrates the company's commitment to good governance. One example is to publish quarterly CSR updates and share them via social media, emails, and articles.

Practical Ways CSR Companies Attract Employees

Employee Testimonials and Social Media
CSR companies showcase their commitment to social and environmental issues through employee testimonials and social media channels. This can help provide a more authentic and personal perspective on the company's CSR efforts and culture, which can be attractive to job seekers.

Professional Development and Career Growth
Companies that prioritize Corporate Social Responsibility (CSR) provide career advancement programs and professional development opportunities that align with their CSR initiatives. This can allow job seekers to make a positive impact while progressing in their careers.

Screenshot 2023-05-03 170021Competitive Compensation and Benefits
Socially responsible companies offer attractive compensation and benefits packages that appeal to the most qualified individuals and demonstrate their commitment to their employees' well-being. These packages contain health and wellness initiatives, flexible work schedules, and professional growth and advancement opportunities.

Work-Life Balance
Aside from offering competitive compensation to employees, offering a high-priority work-life balance is a priority for most job-seekers. CSRs provide policies and programs that promote the well-being of employees in their personal and professional lives. It may involve provisions for parental leave, employee assistance programs, and more.