We all here that being an employer of choice is cool and leads to major benefits. That’s true, and we all get that. But how is a company paving its way to this stage? It’s not something that happens overnight, it’s a long term strategy and investment. And who is the main target for that effort? Every employee in a company! Yes, that young intern that just landed into his first office, that young girl that wants to change the world and your company through creativity, and that manager that brought you so many long term customers. What all these people have in common is more than the company they are working for. It’s the feeling of accomplishment and gratefulness.
But how can you generate such powerful feelings in people? No, it’s not only about additional benefits here, but it’s also about your company caring about the environment and the ones in need, and it’s about dedicating time to make a change in the world. So, does CSR have an impact on your employee retention and loyalty? Can it make people achieve what they need on a spiritual level? It seems like yes. Let’s dig into the subject to see how.
What’s CSR all about?
CSR (Corporate Social Responsibility) is a hot topic when we are talking about gaining your employees’ loyalty, and all the studies support the idea that CSR has a critical role in any employer branding strategy.
But, let’s start with an easier question: what is CSR? Simply said, CSR may be defined as “the responsibility of enterprises for their impacts on society” (European Commission, 2011). Somehow, we think that CSR is the answer to the trust crises from the labor market because, in recent years, many pieces of research revealed that employees had lowered their trust in companies, with direct consequences to the credibility of the entire economic system. Therefore, we need to be aware that being trustworthy is an essential asset for companies, as it represents the first step to developing a strategic CSR strategy for companies and also an employer branding vision.
Why does CSR positively affect employees’ choices?
We can easily understand why companies need to create solid relationships with their employees, but beyond that, they need to get involved in the society, to be part of the after-work life, to inspire and get inspired. Shortly said, CSR activities positively affect employees’ choices, commitment, and retention, and give a new meaning to the employer brand role. Ideas about corporate social responsibility are nothing new, but new and always on the move are the benefits that CSR is bringing:
- Positive workplace outcomes including engagement, particularly for employees who have high levels of ESR (employee social responsibility);
- Improved brand image, which leads to attracting more ethically-minded employers, who are looking for organizations with more transparent policies;
- Employees feel more fulfillment in their jobs and become more loyal to their company if the organization itself is truly dedicated to a social responsibility policy;
- It impacts the general meaningfulness at work;
- It’s a great way to showcase your and their ethical activities, to friends, family, etc.
- On the one hand, CSR creates a positive message about the organization, it increases the employer brand value, and on the other hand, attracts more talents;
- It will create a beneficial effect on employees’ motivation and increase both productivity and efficiency.
CSR helps unify an entire organization around a common cause that is aligned with the company’s values and mission, so don’t forget to set-up your CSR plan, using the same values that first attracted your employees.
If you are doubting that CSR has a positive effect on your goal of becoming an employer of choice, then maybe the result from a recent study will convince you to have a second thought on it:
- 56% of young millennials would not consider working with certain employers due to their values or behavior;
- 49% have even refused to work with companies because of their ethical policies;
- 51% of employees, from all generations, do not want to work for a company that does not have a strong social or environmental commitment;
- 70% say that they would feel more fulfilled in their job and more loyal to their company if the company itself was truly invested in a social responsibility policy.
Final Thoughts
Keep in mind that employees, just like consumers, want to know what their organization stands for and how they are impacting positively the world. If your company doesn’t have a CSR plan, speak to your human resources department. Encourage your company to get out there and do some selfless good!
Don’t know where to start? Get in touch with our team and we’ll help you with the plan.
