Partner Article

Corporate social responsibility and thinking long-term goals

It is important for every business to see the return on investment of their actions, especially when clients are demanding result and stakeholders are often breathing down managers’ necks. But it usually takes time for results to become apparent. This is much the same when we consider Corporate Social Responsibility (CSR), a term that encompasses relationships with employees, clients, suppliers and the wider community. To make sure CSR activities can be given the best chance of success, it is important that you do not look for short-term gains but prioritise the long-term benefits.

How can this be achieved?

First of all, you must analyse the unique needs of your business and identify areas where you can improve the impact you are having on staff, customers, the environment and the wider community. From this point, you must then make sure people from all levels of your business believe in the process and understand that it is important to future growth. To make this happen, you need to make sure stakeholders, managers and lower level staff appreciate that…

You can’t expect results overnight

Corporate social responsibility has different meanings for different organisations, but on the whole it covers community and public relations, environmental sustainability, human resource management and corporate philanthropy. It is about ensuring that you are profitable in a sustainable and responsible way. To expect results overnight based on activities within these areas will simply be selling your business short and make it a waste of time. It should be seen as an ever-evolving, ongoing method of shaping your company’s journey as it continues to develop, one that cannot be defined by a single or short-term goal.

It’s a business tool for future development

A major part of CSR is improving relations with people inside and outside of your organisation, including those involved in the supply chain. Seeing it as a form of long-term investment will ultimately reward your company with an effective business development tool, which enables you to better manage reputation and create positive relationships. However, this requires that you go beyond meeting the minimum requirements, in order to show existing and potential customers and partners that you are committed to sustainable, responsible practices and prepared for future growth.

Recruitment and retention

Recruiting the right staff for your business can be a tricky task. Sure, there are many people out there looking for jobs, but are they the right ones for your organisation? Furthermore, the retention of staff can also be a difficult task. Investing in your employees through corporate responsibility policies, including the promotion of health and wellbeing, staff consultation and investing in skills development, will provide long-term benefits in terms of their performance and act as a positive form of public relations for the job market, partners and customers.

Goals are not set in stone

You only need to look at how work has changed over the past decade and modern approaches such as flexible working, to see that long-term goals should be regularly assessed. It is important that you are aware of the changing needs of your clients, employees and suppliers, or you may end up being left behind. Think long-term goals, yes, but review them as part of the continuing growth and expansion of your business.

This is a guest article by Joel Cook from EDP where you can learn more about corporate social responsibility for your business.

This was posted in Bdaily's Members' News section by Joel Cook .