Corporate Social Responsibility, or CSR, is a way for a company, business or freelancer to give something back to the local community, charitable or environmental causes, to society, or to the world at large.
According to Investopedia, “Social responsibility is important to a business because it demonstrates to both consumers and the media that the company takes an interest in wider social issues that have no direct impact on profit margins.”
Yet, studies have found that businesses with CSR programs tend to do better financially over the long haul than those without.
Perhaps karma is a factor. Through the CSR program you are saying to the universe, “I freely give this to you,” and the universe responds in kind.
There are hard truths behind the findings
Doublethedonation.com lists several of them in their post entitled “Why Corporate Social Responsibility is Important.” 2 key takeaways include that CSR improves the public image of the company and boosts employee engagement – critical given we live in a time in which employees and customers are attracted to the “experience” as much as if not more-so than the product or service.
Forbes’ article “Six Reasons Companies Should Embrace CSR,” adds a couple more important factors: brand differentiation and long-term thinking.
Relative to long-term thinking, the article states that, “CSR is an effort to look at the company’s long-term interest and ensuring that the company’s future is… well… sustainable. Hence, that’s why I prefer the term sustainability to CSR. It is a shift from worrying about the next fiscal quarter’s financial results to the impact business decisions today have on financial (and social) results ten years from now.”
Make it Personal
However you define your CSR program, make it personal. What matters to you and your stakeholders? That’s where you should focus.
Plan Canvas’ CSR program incudes support for the following organizations, each with a distinct mission that is personal to us:
Another major piece of our CSR program is an on-going commitment to promoting loving lives focused on significance versus success. Success is about yourself. Significance is about others.