It is very likely for us to correlate the term CSR only with the established organizations, as big organizations indulge in such socially and environmentally benefitting campaigns. But, isn’t it the other way? That is these organizations have grown big not only because of their innovative deliverables but also because of their socially responsible behavior and therefore, every growing business trying to make it big in the world of business should engage in socially responsible activities and improve their CSR!
What is CSR?
CSR is the set of initiatives undertaken by your company to stand against the current issues or the future issues concerning the safety and growth of the society and the environment. Therefore, improved CSR means, your growing organization also values the society in which it operates along with the money aka profits, therefore turns out be a favorable choice among its customers, naturally!
Why concentrate on improving CSR
Because it is customers’ expectation
As a growing company, you know the importance of satisfying the sensible needs of the customers to survive the competition and earn satisfying profits. If so, you need to start engaging your company in socially responsible activities, as nearly 55% of the modern customers are eager to associate themselves aka consider the products or services of the company acting socially responsible, according to an independent survey result.
Because it creates more talented employees
For the quick growth of your business, along with you, your employees should also be dedicated and skilled, which can happen with your business practicing socially responsible methods. According to the survey conducted by an independent source, nearly 64% of the millennials prefer to choose the company with strong CSR values, while 83% of them believes in staying committed to the organization that is loyal to the society and the environment by contributing suitably to the social and environmental issues.
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This shows, a dedicated workforce for your growing business is only possible with better CSR performance and therefore, start concentrating on it right now to become a strong company in the future.
Because it fetches better financial rewards
For a small business, the importance of the solid financial support is understandable, which can be better achieved with the better CSR. The same has been substantiated by this study of small businesses in Malaysia. According to this, a small business’ responsible practices towards the society, environment, customer, and employees will have a positive impact on its financial performance, needed very much for the business’ further development and reputation!
- Because it boosts the trust factor in your stakeholders
The primary stakeholders of your small business aka the customers and the employees, consider the socially responsible activities and goals of your organization as the parameter to decide your trustworthiness, according to this study. Therefore, make your organization socially and environmentally responsible and grow in strength, revenue, and popularity, manifolds.