Corporate Social Responsibility has a much bigger impact on your bottom line than most people expect. This is primarily due to the fact that it is indirect and difficult to measure. When coupled with the concept of “Shared Value”, i.e. the generation of economic value in a way that also produces value for society by addressing its challenges, has the power to connect corporate success with social progress. The benefits created are profound, encompassing corporate health, employee well-being, community well-being, business sustainability and ultimately business success. Helping the community to thrive and prosper has a flow on effect of creating a positive image within the community of your organisation as it changes the market place perception from being that of a simple “customer – supplier” dynamic, to being an integral part of the fabric of society, supporting the community and creating a better environment for all to prosper. With the advent of Social Media and a globally socially connected world, business today is but one tweet, one share or one status update away from meteoric success or catastrophic failure!
The benefits for the Corporate Community of a positive Corporate Social Responsibility profile and participation in Shared Value initiatives are both profound and transformational, providing:
Improved Marketplace Health & Sustainability
The healthier the community in which your customers are based, the healthier and more sustainable the business environment. A healthy community is one that prospers. A prospering community is good for your organisation and business growth. Imagine. What would be the impact on your organisation if the health of the community in which your business functions was to improve dramatically? What about if your organisation was seen to be a major participant in creation of sustainable and positive community well-being?
Positive Market Place Perception - A Path to Business Growth & Competitive Advantage
To be seen by the community as an organisation that cares about and supports the community, creating shared value generates a positive market place perception. It is human nature to form communities and to support those communities. When individuals or organisations support the community, the community responds by supporting them in return. Likewise, as your organisation’s participation within the community grows, so too does the positive disposition of the community towards your organisation. The more your organisation supports the community, the more likely the community is to support you. This creates positive business momentum within the community towards your business. It makes perfect sense that any community would actively support, as well as promote and encourage the support, of any business that will support that community. Imagine the impact on your business if the community were to actively promote and support your business!
A Means to Attract & Retain the Best & Brightest Talent
In recent market surveys, employees rate purpose as being a primary consideration in job satisfaction and positive well-being. Although role clarity plays an important part in job purpose, a sense of “doing the right thing” by the community helps to create positive employee well-being and an overall human sense of purpose. It has been found that employees will accept a lower salary to work for an organisation that has a positive Corporate Social Responsibility profile. In particular this applies to some of Gen X, most of the Millennials / Gen Y. i.e. Tomorrow’s executive management team and most of the current and emerging workforce. Imagine – What would be the impact on your business if your organisation could attract and retain the best and brightest employees?
What if you could make a very simple change that would reduce operational cost, generate active support from the community, create a healthier business environment, generate positive public relations outcomes, reduce staff turnover costs and attract and retain the best and brightest talent? Imagine what this would mean for your business! This change is very simple and it saves money. For more information, please contact us today.
innovate360 has created an entirely new approach to recruitment to enable your organisation to participate in shared value creation, providing an opportunity to integrate your business into the fabric of the community, paving the way towards sustainable future business success. innovate360 works with your leadership team, alongside community based leaders, to enhance your Corporate Social Responsibility profile and create Shared Value. In doing so, innovate360 delivers a significant reduction in recruitment costs, whilst enabling your organisation to prosper and thrive as it hires the best and brightest talent available.
For more information on enhancing your Corporate Social Responsibility profile, participation in Shared Value creation and to transform your recruitment activities into a driving force for future business success, please contact innovate360 today.