Why Is Corporate Social Responsibility Essential To Your Workplace
In recent years, companies and individuals have held companies accountable and to higher standards regarding their contributions to the world around them. No longer are the days when a company can mindlessly maximize profits without accounting for its impact on local and global communities.
This is where Corporate Social Responsibility (CSR) comes into play. CSR is the belief that a business has a responsibility to the society that exists around it and reaps benefits from. A simple tagline for CSR can be “profit, people, planet”. CSR is essentially the belief that a company cannot operate in a vacuum and there is a ripple effect to the actions of a company; people no longer are willing for that ripple effect to be negative.
CSR is typically broken down into four different categories: environmental responsibility, ethical responsibility, philanthropic responsibility, and economic responsibility. Depending on the company, they may be more inclined to pursue different categories with different degrees of intensity. For example, an oil company may feel more inclined to create initiatives that support environmental responsibility to offset its negative environmental impact.
Not only is CSR great for communities, but studies show that a company with CSR initiatives also has happier and more driven employees. CSR has been proven to improve employee retention rates, boost morale, build loyalty, and increase creativity and motivation. Employees are more likely to enjoy the company they work for and be proud of their contributions when the company cares about the world around them.
What Can CSR Look Like For A Company
While there has been a shift toward CSR initiatives in recent years, companies often need to outsource the execution of their initiatives. That’s where Idea Fountain comes in. We look at a company’s goals and create events that are in line with its objectives.
Let’s say a company is mostly concerned with environmental responsibility and increasing team building throughout different departments. Idea Fountain would then come up with an engaging event that encourages employees to take notice of their environmental impact and build the tools to live a more sustainable life. We might plan a community garden day for the company where they are contributing to the local community and developing skills to bring home or to the office.
The sky is the limit when it comes to CSR programs. At Idea Fountain, approximately 75% of our events are CSR initiatives and we are proud to be part of the change towards conscious consumption and workplace culture. CSR initiatives are powerful mechanisms for change, locally and globally.