While corporate social responsibility (or CSR) has been in vogue for a while, there’s no denying that it quickly increasing in importance to a point that hasn’t been experienced before. Companies and corporations are now expected to give back to both their local community as well as the world and face societal pressure and stigma if they don’t deliver. Below are 6 major changes that have happened recently in the ways companies engage in CSR:
- Getting involved leads to full engagement: Companies are getting their employees to fully engage by building up a culture of philanthropic volunteering, leading to deeper partnerships with nonprofits and a stronger company culture that leads to more employee engagement as a whole.
- It must be authentic: This may be surprising (though it shouldn’t be), but employees can tell when management isn’t being authentic in what they’re pursuing. Since CSR has become a keystone of both employee engagement and retention, the need for it to be authentic and deliver real results is incredibly important. If it seems faked or unhelpful, people won’t spend the time and effort on it.
- Leadership has to be involved: This sort of ties in with the need for authenticity. If upper management and leadership don’t join in on the efforts of lower-tiered employees, resentment will build and there will be an obvious lack of authenticity and follow-through.
- Millennials are here and influencing: Millennials have incredibly high expectations of their employers, especially when it comes to philanthropy. With millennials being such a large part of the workforce and valuing authenticity, the need for quality CSR has never been higher.
- Engagement is for all: Large companies aren’t the only ones expected to have some sort of outreach or engagement program. Smaller and mid-sized companies are also now facing expectations in terms of engaging in corporate philanthropy and CSR.
- Corporate goals, employee interests, and nonprofit needs are intertwined: Companies with high levels of engagement have found that aligning the goals of all three aspect of CSR goes far towards helping them retain employees and make a meaningful impact in the world.
These are just six of the changes that are happening in the exciting world of corporate social responsibility and corporate philanthropy. Read here for more information.