Roman Semiokhin is a serial entrepreneur and philanthropist who has donated a significant amount of his personal wealth to support a range of worthy causes, including offering his support to those affected by wildfires in Cyprus. This article will look at corporate social responsibility (CSR) and why it is crucial for today’s businesses to conduct operations in a responsible, ethical and sustainable way.
Businesses that practice CSR take measurable steps to improve the environment, communities or economy. CSR is essentially a form of self-regulation, reflecting a business’s accountability and its commitment to contributing to the wellbeing of local communities and society at large through various social and environmental measures. The attached infographic contains a selection of eye-opening CSR statistics.
CSR is critical to brand perception, boosting a business’s attractiveness to investors, customers and employees and helping to improve talent retention and overall commercial success. The attached PDF explores the issue of impact investing in more detail, identifying how it enables investors to not only generate attractive financial returns but also impart positive social and environmental change in the world.
With digitisation increasingly making its presence felt across all aspects of modern corporate operations, it is crucial for companies to find the right tools to digitise and innovate their CSR efforts to achieve maximum impact. To this end, CSR software has been touted as a potential game-changer, helping businesses to track, manage and report defined CSR activities and goals. The embedded video takes a closer look at CSR software and its potential to help businesses achieve greater impact in less time, with the additional benefit of lowering costs.
With just 36% of workers reporting that they feel engaged with their workplace according to a recent Gallup report, it has never been more important for businesses to strive to create working environments that foster and support employee engagement. Employee engagement is a win-win for both sides, with a highly engaged workforce enhancing performance for clients, as well as creating better talent retention within the business.
Although grand gestures on a global scale may be very impressive, in reality, it is equally important for businesses to impart positive change at a local level, putting their weight behind worthy causes closer to home that benefit the community in which the business operates.
Implementing strident CSR policies has a multitude of benefits in addition to driving positive societal and environmental change. As well as increasing talent retention and employee morale, it makes businesses more appealing to potential customers, investors and the public at large.