Impact of Corporate Social Responsibility (CSR) on business: Employee perspective

In the previous blogs we discussed about what social responsibility is, its advantages and disadvantages of the same. In this post I would like to mention what impact it makes on the business. It is evident that by performing CSR, there is going to be a considerable impact on the business both in positive and negative aspects. In the previous blog we discussed about how performing CSR leads to a potential brand image in the minds of consumers? Let us have a look at some statistical data which will be helpful to you for understanding CSR impact on business.

·      After conducting 14600 interviews of the workers between age 18-65, working for at least 24 hours a week It was found that 77% of Canadians only wants to work for a company which has a strong CSR program, it depicts the importance and the impact CSR has not only on the consumers but also on the workers/employees. (Randstad, 2018)

·      Another fact of CSR which might draw your attention is that, 71% of Canadians are ready to unpaid voluntary work if their employer allows them paid time off. It shows how today's employee thinks, which means that employees also want to work with the organization which promotes ethics. Today’s employee wants an overall growth not just the vertical growth (Salary raise, incentives) as well as horizontal growth (New/challenging/voluntary work) which adds up to the value of their work at workplace. (Randstad, 2018)

·       55% Canadians while looking for employer take into consideration whether or not  the employer performs charitable and philanthropic activities. This, according to me is a recent trend that employees show inclination to work with employer being participative into serving activities to the society. (Randstad, 2018)

·    Moreover,65% of Canadians think that it is important to work voluntary unpaid to contribute to the society. (Randstad, 2018)

·      It is believed that employees of an organization are the core source of their success. The above mentioned aspects describe that employees shows inclination towards employer which perform some voluntary work for society. (Yang & Basile, 2018) Which also shows that their job satisfaction in some way or the other depends upon their employer realizing responsibility towards society. In return if the employees are satisfied, they get motivated to work better and the organization's performance takes an upward trend. (Merunka, 2014)

                            

                           

Thus, these were some of the statistics which depicts how the CSR impacts a business. The factors which affects behavior of the employees in a business, is the biggest aspect impacting the business. You may comment in the comment box regarding your thoughts for CSR impact on business. You may also share your views as to whether or not you would take into consideration your employer's CSR strategy? and how it affects your behavior? at your workplace.

References:

Merunka, O. F. (2014). The Impact of Corporate Social Responsibility on Organizational. Journal of Business Ethics, 19.

Randstad. (2018, August 2). Retrieved from Randstad interim.ca(how-important-is-corporate-social-responsibility-to-canadian-workers): https://www.randstad.ca/employers/workplace-insights/corporate-culture/how-important-is-corporate-social-responsibility-to-canadian-workers

Yang, J., & Basile, K. (2018). The impact of Corporate Social Responsibility on Brand equity. Marketting intelligence and planning, 2-17.

Image source: https://www.principalpeople.co.uk/blog/2015/11/what-is-corporate-social-responsibility