21.09.2020

Businesses that leverage corporate social responsibility tend to be more successful

Looking for a way to increase your bottom line without working harder or hiring more staff? Leveraging corporate-social-responsibility si a powerful way to elevate your brand and attract new leads.

Many businesses are stuck in the old ways of managing their assets, their production lines, and their general resource consumption.

Switching over to renewable energy isn’t practical for every industry, both from a logistical perspective and in terms of budget.

The pressure consumers are placing on businesses and suppliers to become eco-friendly is growing. Entrepreneurs and CEOs have their days packed to the brim with keeping organisations functioning, the idea of implementing new corporate social responsibility protocols might feel entirely overwhelming.

Corporate social responsibility (CSR) becomes the big dream that is gathering dust. However, when you view it as a lucrative investment that will future-proof an organisation, you can see the value in dedicating some funding into this.

There’s a competitive advantage in understanding the newer socially conscious consumer.

Keeping your brand relevant requires you to stay up to date on the values and ethics of your consumers. What matters to them, and how can you align with their views? Statistics indicate that sustainable brands are the most likely to thrive as we move into the future.

The newest salary-earning consumers are Gen Z, following on from millennials. Millennial consumers are known for their radicalism and their desire for social justice. 

Gen Z appears to follow this trend with even more tenacity and radicalism:

42% of the Boomer generation expressed their willingness to pay more for sustainable goods and services. That percentage climbed steeply to 68% among the millennial consumers and again, to 73% with the emergence of Gen Z.

There’s a rising demand for sustainable goods and services. People are willing to pay more to support brands that showcase their CSR. Taking the fastest production route and hiring a larger workforce at lower pay is now detrimental to a brand’s success. Consumers are willing to pay more knowing that their money is going towards paying workers a living wage and preserving the earth’s well-being.

Understanding corporate social responsibility

Corporate social responsibility is defined as the “obligation of an organisation – its management, in particular – towards the interests and the welfare of the society that it operates in”. When we understand that operating within our community as a contributor empowers the entire financial ecosystem, it becomes apparent that these good deeds will benefit the business in the long run. Here are some of the most notable ways in which corporate social responsibility benefits an organisation;

  • Corporate social responsibility enables improved asset and resource management - it’s a mind shift that the entire organisation must embrace. Becoming aware of the way in which you use your assets will bring resources to potential wastage or accidental misuse. 
  • Improves team morale - research indicates that earning a living wage is not the most effective way to win over employees’ loyalty and motivation. True productivity comes from personal fulfilment. Survival shelter and food are one of the base needs of the human being and after that comes a sense of belonging and purpose. Organisations that use corporate social responsibility as part of their team-building strategy give their workers a sense of value and meaning in their jobs, boosting morale and impacting employee productivity. 
  • Corporate social responsibility improves the chances of attracting new investors - in the age where kindness is cool, brands that observe corporate social responsibility are more likely to attract investors because they attract more consumers. They’re future-proofed and more likely to be around in 10 years time.

Corporate social responsibility: From the inside out

If the concept of corporate social responsibility is overwhelming, employ a third-party brand to assist.

This can make it easier to take those first steps. RebornMerchandise offers brands a fast and easy way to get into a position where they can make a real difference. It starts with what you wear.

Have your team in comfortable, competitively-priced Reborn Merchandise workwear with your company’s branding on it. 

You’re saving the oceans and we’ll do all of the work. We’ll even furnish your brands with reports showcasing your “eco-footprint”, which you can use as part of your branding, and PR and CSR strategy.