Are you struggling to figure out how to develop a CSR Plan for your business? Are you not quite sure how to improve your corporate social responsibility strategy? Do you want corporate responsibility to be at the heart of your company
What is a CSR Plan?
A CSR Plan, or Corporate Social Responsibility strategy, is your company’s way to give back to society beyond the for-profit strategies that determine your viability as a business. The concept of corporate responsibility helps extend the reach of a business and gives them a strategic way to impact the world in meaningful ways.
There are four types of corporate social responsibility: direct philanthropic giving, environmental sustainability, ethical business practices, and economic responsibility. Some businesses integrate a combination of all four in their CSR plan, while others focus on just one.
What are some corporate responsibility examples?
Corporate Responsibility comes in all shapes and sizes, but primarily revolves around a company’s mission. For example, a paper printing company might focus their CSR efforts on tree planting programs, while a shoe company might donate a set number of shoes to developing countries annually (yep, we’re talking about TOMS!). Let’s get more specific…
1. Survey Monkey
Ever taken a survey just so you can get a 10% off coupon or get entered in a raffle? Well Survey Monkey has taken their survey software to the next level by donating 50 cents for every completed survey to the survey taker’s charity of choice. This is a perfect example of direct philanthropic giving that will allow each customer to walk away happy when they choose to complete a survey.
2. Starbucks
Did you know Starbucks has pledged to hire 25,000 veterans by 2025 as part of their new CSR plan? And did you know they’ve also committed to hiring 10,000 refugees by 2022? Starbucks is aiming to diversify their employees while providing opportunities for both refugees and veterans to find stable employment. What’s not to love about that? This is just one example of corporate responsibility in the form of ethical business practices.
3. Wells Fargo
Each year Wells Fargo donates a portion of their revenue to charities around the globe. This shows customers that doing business with Wells Fargo isn’t all about the money, it’s also a way to give back to the world. And even better, they give employees two paid days off a year to volunteer with a charity of their choosing. This is an example of a CSR plan that combines direct philanthropic giving with volunteering.
How to promote corporate social responsibility
Shout it from the rooftops! If you have a CSR plan now or you’re planning on developing one soon, don’t be shy about sharing it with your network of customers and employees. It’s definitely nothing to be ashamed of, and your business will directly benefit from your customers knowing about it.
People care about corporate social responsibility, so let them know you do too! If you’ve already got something started or an idea in mind, here are a few ways to ensure your corporate social responsibility is the best it can be.
3 ways to improve corporate social responsibility
1. Make it memorable
Don’t just come up with a random corporate social responsibility strategy because it is expected. Spend significant time deciding which type of CSR plan makes the most sense for your business, your mission, and your long-term goals.
If you can create something your employees believe in, your customers remember, and your business grows because of, then it will be a homerun CSR plan. Almost anyone that buys from TOMS (or has heard of TOMS) knows their CSR plan, because it’s simple, directly related to their product, easy to remember, and has a clear impact.
What do you want people to remember about your business when they’re considering purchasing your product over your competitors?
2. Integrate it with your PR strategy
Make sure your customers know what your CSR plan is! Corporate social responsibility offers a unique way to engage with your customers. Nowadays, people (including millennials) want to buy products and support businesses that they believe are doing good, so make sure every customer touch point doesn’t miss out on the chance to promote your corporate responsibility.
If customers think they are purchasing a product that goes beyond their own needs, they’ll be more happy to purchase it, and may even be willing to pay more for it.
A word of caution though: Don’t make your CSR plan appear too much like a marketing strategy, because it will surely be a turn off if your customers think it’s ALL a PR stunt.
3. Get your employees involved
Don’t just tell your employees what your CSR plan is, let them get involved in creating it, developing it, and choosing how to integrate it into your business. If you create a corporate responsibility strategy that your employees are passionate about, then they’ll be more likely to support it, promote it, and believe in its impact.
Just like your customers, your corporate social responsibility plan is a unique way to engage your employees with the company and create a newfound pride in their employer. Some research has even found that a CSR plan can help improve employee productivity and retention!
We have the easiest way to implement a CSR plan for your business
The GoAbroad Foundation recently launched a brand new partnership program that’s connecting businesses like yours with incredible grassroots organizations around the globe—so we can give together in more meaningful ways. If you’re interested in supporting a nonprofit initiative, but don’t have the time to vet an organization and find the perfect project, then let the GoAbroad Foundation find the best match for you and help you kickstart your corporate responsibility.
Our Give Together Program will help make giving a natural part of your business and take a great deal of the logistical work off your shoulders, while ensuring your contributions are used for projects that align with your mission. We want to help multiply the impact of your corporate social responsibility through a giving partnership with the GoAbroad Foundation!