Corporate Social Responsibility (CSR) has evolved from a mere buzzword to a business essential. Its significance lies in the fact that companies that overlook it stand a higher risk of lagging behind their competitors.
Consumers today are more conscious of the impact businesses have on society and the environment, and prefer those that acknowledge their responsibilities towards society.
In a recent survey, 86% of consumers believe that companies should take a stand on social issues, and over 60% choose to endorse brands that share their values.
This blog entry emphasizes the importance of CSR partnerships, particularly the collaboration between Engagedly Software and Drishtee Foundation.
Swavlamban: A Corporate Social Responsibility (CSR) Initiative
Engagedly Software and Drishtee Foundation collaborated in empowering 100 women through poultry farming training and resources highlights how companies can take concrete steps towards discharge of their social responsibilities.
The program caters to all aspects of poultry farming, from understanding animal breeds, health management and nutrition to marketing. This initiative promotes self-reliance and self-sufficiency, therefore creating a cycle of empowerment and economic growth.
Why conduct Corporate Social Responsibility (CSR) Initiatives:
Bring about positive changes:
More forward-thinking companies are embracing CSR not purely for a public relations requirement, but as a tool for effecting genuine positive change in the world, forming stronger relationships with employees and customers alike. Large corporations particularly, with their significant influence over society and the environment, have a responsibility to contribute to worthy initiatives making a positive impact.
For example:Microsoft’s AI for Accessibility program, which funds and provides resources to develop AI technologies that can improve the lives of people with disabilities, serves as an excellent example of CSR in action. It promotes positive change in society, establishing Microsoft as a reputable social-impact focused brand.
Attract exceptional talents:
Corporate Social Responsibility (CSR) plays a pivotal role in attracting and retaining exceptional talent.
A Deloitte survey reveals that for 70% of millennials, a company’s environmental and social commitments influence their work decisions. As the largest demographic segment in today’s workforce, millennial preferences and values hold great sway over the evolving business landscape.
Companies that disregard CSR are at risk of losing top-notch talent to their competitors, whereas those prioritizing these initiatives reap the rewards of dedicated employees, stronger engagement, and a vibrant workplace culture.
The alliance between the Drishtee Foundation and Engagedly Software perfectly exemplifies how businesses can fulfil their social responsibilities while positively impacting both society and the corporate world. By empowering women in rural areas through education and training, these organizations foster a cycle of self-reliance and economic progress. Such initiatives not only help companies forge solid relationships with both customers and employees but also garner attention from the brightest talent in the industry.
Mahatma Gandhi astutely observed, “The difference between what we do and what we are capable of doing would suffice to solve most of the world’s problems.“
When organizations take proactive steps in CSR, they bridge this gap, contributing significantly to global development.
Being thought leaders in their respective fields, forward-thinking businesses must recognize the importance of meaningful CSR initiatives. By developing strategic partnerships and coupling them with actionable measures for positive change, they inspire others within the industry to follow suit. In doing so, an atmosphere in which businesses prioritize social responsibility over profit-driven objectives will gradually emerge–benefiting all stakeholders involved.
In essence, embracing CSR is not only a necessary step for businesses to attract top talent but also an opportunity for them to drive positive change by aligning with global societal needs. As companies grow more invested in addressing various challenges facing our world today, they have the potential to make significant strides towards creating a more sustainable future for all.
Frequently Asked Questions
Q1. What is Corporate Social Responsibility (CSR)?
Ans. Corporate Social Responsibility (CSR) refers to a company’s voluntary actions to improve society beyond its legal obligations. It includes sustainable business practices, philanthropic giving, ethical labor practices, environmental stewardship, and community development. Engaging in CSR can enhance a company’s reputation and contribute to the overall betterment of society.
While CSR is a voluntary practice, it is becoming increasingly important for companies to prioritize their social and environmental responsibilities, given the growing expectations of stakeholders and the impact of business activities on the planet and society.
Q2. Why conduct Corporate Social Responsibility (CSR) initiatives?
Ans. Companies conduct Corporate Social Responsibility (CSR) initiatives because they recognize their responsibility to contribute to the well-being of society and the environment beyond their legal obligations. Engaging in CSR can enhance a company’s reputation, attract and retain employees, build customer loyalty, and contribute to the overall betterment of society. Additionally, as stakeholders increasingly expect companies to prioritize social and environmental responsibilities, investing in CSR initiatives can help businesses stay competitive and adapt to changing market expectations.
Jacqueline Martinez is the Director of Marketing at Engagedly, where she leads initiatives to fuel the marketing-to-sales pipeline through strategic content management, revenue operations, and thoughtful mentoring. She is a growth-focused marketing executive with extensive experience driving multi-million-dollar revenues across SaaS, technology, real estate, oil & gas, and financial services industries.