8 Benefits of Corporate Social Responsibilityadmin
8 Benefits of Corporate Social Responsibility
your South African Company Can’t Do Without!
The goal of CSR is to ensure that communities affected by a company’s operations will enjoy socio-economic benefits. It seeks to ensure that individuals, communities, and society at large will benefit. The economic landscape of South Africa will change for the better.
But, the benefits of CSR don’t stop there. Your company benefits from CSR too. Here’s how:
1) Your organisation adding value to society
This is arguably the greatest benefit. Many now recognise that government alone cannot turn the tide of poverty and sub-standard living conditions across South Africa. Through effective CSR programmes, your organisation can make a difference. This is more than enough of a motivation to get involved.
2) Increased motivation and productivity of workers
If your company demonstrates an ethos of uplifting the poor and upskilling its own workers, those workers will be far more motivated than they would be if they thought you didn’t care about them or the plight of the masses. Increased motivation means increased productivity. Some CSR-driven projects offer training incentives, further motivating hard work and productivity.
3) Attracting and keeping high-quality staff
The cream of the crop of South African corporates is implementing CSR initiatives. Strong, effective CSR programmes help your corporate image. The result is greater interest from potential high-calibre employees. There is also a lower turnover rate of key employees.
4) Developing your employees
This benefit is two-fold. First, CSR-driven training programmes within the company will upskill your employees. As their competence grows, they add increased value to the company in their existing posts, and also when promoted. Second, employees can volunteer and assist in running CSR programmes. These employees broaden their horizons and enjoy the experience of having helped those less fortunate. Many find renewed passion in their work through partnering with CSR.
5) Building trust with new and existing clients
CSR programmes give your company the advantage of a good reputation among consumers and the media. If your corporate image is positive, then your clients will have increased trust for your products and services. In this way, CSR draws new prospective clients to your business. They will see it as superior to the competitor who does not have any CSR policies in place.
6) Building trust with the surrounding communities
In the geographic location(s) where your company operates, the perception of your company is key. The communities there may see your organisation as a positive influencer, and respond with support and co-operation. Or, they could see it as cold, heartless and selfish, and respond with indifference at best, and hostility at worst. CSR initiatives are a wonderful way to build good working relationships in these communities.
7) Increasing the success of your company
The success of your South African company is intrinsically linked with the success of the country as a whole. Companies can now effect real positive change in the communities of South Africa. These companies are setting themselves up for success in the arenas of both sales, and investment.
Also, CSR means you are not limiting your success to rands and cents. Your success will include measurable improvements in the lives of everyone who has benefited from your CSR projects.
8) Achieving B-BBEE points
Lastly, there are the incentives and benefits of an improved B-BBEE scorecard.
Contact Umsizi today to see how we can help you add tremendous CSR benefits to your organisation.