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.
https://www.aflac.com/docs/about-aflac/csr-survey-as-sets/2019-aflac-csr-infographic-and-survey.pdf
Now that we know what makes a company socially responsible–let us explore the practical ways these companies attract and retain customers.
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.
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.