Most socially-conscious businesses will already have a Corporate Social Responsibility (CSR) program in place. At the same time, the natural aim of most businesses, whether large or small, is to pursue growth.
When these two aims – greater profits and greater good – clash, and decisions have to be made about where to allocate the company’s resources, a common temptation is to let the CSR program stagnate while more time and money is dedicated to profit. After all, you can just work on it after you scale up your business, right?
It’s possible to do it that way, but smart companies will know that expanding their CSR program at the same time actually helps their business grow more quickly and sustainably. Doing good for environmental and social causes, and having a rock-solid CSR and employee-giving program from day one, smooths out and enhances the growth process by:
Benefits of CSR for Business Growth
1. Enhancing Company Values
Having a robust CSR program in place with shared values offers a reference marker, a concrete set of goals to achieve, that help guide your growth.
2. Attracting and Retaining Employees
CSR programs promote employee engagement and reward them for giving, boosting happiness and morale. They also attract candidates who share your set of company values and will be more likely to stay with you for the long haul.
3. Building Customer Trust and Loyalty
The new generation of customers is more engaged than ever before with the problems our world is facing, and they’re ready to do whatever it takes to help fix them. These are the customers that will help drive your company into the future, and if you don’t have an up-to-date CSR program, how will they know that your company is on the same page as them?
4. Contributing to a Healthier Economy
The major goal of a CSR program is, of course, to improve both local and global communities. A healthy planet, with a thriving economy, strong social equality, and a happy population will provide your business with many more lucrative opportunities.
The Right Way to Grow Your CSR Program
Another reason for growing your CSR program alongside your profits is a purely practical one: it avoids inefficiency and wasted resources. Instead of trying to play catch-up after you’ve expanded the business, and trying to adapt an outdated CSR program to a suddenly larger company, it’s much less work if you pay attention to it as the business grows.
Steps to Expand Your CSR Program Effectively
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Solidify Your Mission Statement Align your mission statement with your company’s strengths, capabilities, and target market. Refer to it frequently and let it guide your growth and contributions to the community.
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Stick to Your Mission Statement While it’s important to be flexible as social movements change, completely rewriting your message as you grow will quickly pull a CSR program into different directions and fragment it.
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Invest in CSR as You Invest in Growth Dedicate resources to your CSR program, HR department, giving programs, and social innovation projects. A greater (yet sustainable) investment will pay off with greater dividends in the long run.
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Monitor Key Metrics Track the progress of your CSR program by monitoring metrics, preparing reports for key stakeholders, and adjusting strategies to maximize societal benefits.
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Engage with the Community Research what matters most to your community and customers, and actively listen to their needs. Engaging with both current and future customers ensures your program remains relevant and impactful.
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Involve the Whole Company By involving employees and stakeholders in the decision-making process as your CSR program grows, you’ll boost their engagement and morale, which will contribute more willingly to the success of both your program and your company.
How Copalana Supports CSR Growth
Any business with its eye on the future needs robust CSR tools that can grow alongside it. If you’re looking to scale up and give more, Copalana is the perfect partner.
Any business with its eye on the future needs robust CSR tools that can grow alongside it. If you’re looking to scale up and give more, Copalana is the perfect partner. Find out how the ecosystem works here.
