Corporate Social Responsibility is a business model which has been put into place that allows the company to be accountable for their actions. The actions which can affect itself, investors and the public. By incorporating this within an organisation it allows for consciousness of the impact that they are having on society; economically, socially and environmentally.
Practising CSR within an organisation is valuable because it allows for stronger bonds to be fostered between employees and employers. It boosts morale, productivity and connectivity.
There are clear benefits of corporate social responsibility, some include:
- Increased organisational behaviours and improved employee relationships
When employees think their employers are doing what is in their interest they are more likely to do the right thing for the organisation. When organisations integrate this practice the employees are more likely to participate in co-operative work engagements with their team. For example, going out of their way for their colleague in order to help them. It promotes better quality performance and closer relationships between employees.
- Allowing employees to have their own identity with the organisation
When employees feel as though their company is socially responsible for them, they start personally connecting with the business. They form their own work identification and as a result they are much more satisfied with themselves. The employer will also be able to gain many benefits from this also, one being a higher level of productivity.
- Improved workplace commitment
Employees feeling good about their organisation has shown the increase of commitment and also that they want to stay with their current employer. Employee commitment includes many positive attributes- Including how much value an employee puts on the organisation, how much personal sacrifices they make for the betterment of the business and they see their success and future bound to the company. This not only increases commitment but employee loyalty and satisfaction.
- Building an amazing business profile
Showing that your business is prepared to give back to the community will encourage brand relationships to form. Contributing to your employees and your company makes for a successful and favourable environment to work. When you allow others to understand and develop something which they are passionate about they will inevitably put in a lot more commitment. Allow for the workplace to have more extra- curricular activities together, it improves teamwork and makes both employer and employees much more content with each other.
More often than not we have to give back to our employees, employers and community in order for a smooth process of running an organisation. Within any business you require commitment, loyalty and personal effort but to do this you have to value those around you. A business is its people.