Business benefits of corporate social responsibility
Corporate social responsibility (CSR) has been used by many companies to be able to gain advantages for the company involved in CSR. CSR should be practiced by any business entity regardless of size or sector.
Companies involved in CSR have witnessed advantages and benefits.
- What is CSR? Corporate social responsibility (CSR) is a business model that helps a company be socially accountable to itself, its stakeholders, and the public.
- Better brand recognition– When you do good to the community that you serve, you have a chance to build a good reputation with your audience as a responsible business which will result in a better brand reputation which will result in increased sales.
- CSR presents press opportunities – When companies engage in CSR activities they attract Media coverage, Media coverage provides free advertising to your intended audience
- Earn Public Trust- When companies and corporations establish CSR work in communities that earn them profits, customers will not have a perception that you are there just for money, but you care too. This in turn brings out the trust and public proof of socially responsible brand.
- Improved Customer Loyalty- If you show that you care for the communities around you, customers will be willing to come back to your business. It has been studied that 70% of customers become loyal to companies that are more active in CSR efforts.
- Competitive Advantage – are you giving, grateful, and socially conscious business? If the answer is yes, this means that you have set your business apart from your competitors who could be in it for the money. The secret is to earn more community trust, then the results will position your company as a preferred option in the saturated market. Try and become the better option.
- Employee Retention Rates – It is evident that 95% of employees who work in a CSR-driven organization find fulfillment in their workplace. The rate of quitting becomes low and they are more loyal to their employer
- CSR Accreditation: Center for Social Responsibility and accountability (CESRA) provides global CSR accreditation services that recognize and validate the accredited organization’s socially responsible activities. CESRA provides a powerful way for accredited organizations to communicate their positive action to all the stakeholders. Your listing on this website is proof of accreditation. With Benefits that go beyond the company’s expectations.
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