To say that a corporation taking the initiative to become socially responsible is a “good idea” would be a solid understatement. Sure, giving back gives all of us a warm and fuzzy feeling all over, but what’s in it for the giver? True giving is generally done with the attitude (or at least should be) of not expecting anything in return. However, a company that gives back will reap many benefits in return.
What’s one major benefit in corporations engaging in social responsibility? Increased employee engagement. If a company is perceived by its employees to be socially responsible, the workers are more satisfied with where they work and ultimately become more committed to achieving success within the industry. What does it mean for these corporations? It means potential increased sales and profits as a result from having a more motivated workforce. This article describes changes in operating income for companies as a result of participation (or lack thereof) in corporate social responsibility. The results show that companies engaged in social responsibility saw an average of 19% increases in their operating budgets while companies that did not take an active “giving back” role saw an average of 33% losses in their operating budgets year to year.
If employees are more engaged as a result of social responsibility and that helps your company while you help others at the same time, what is there to think about?