Employees consider CR when job hunting
Younger job seekers are particularly concerned with social responsibility. In fact, research has found that in millennials (age 23-36 years old) job seekers — 64% won't take a job if the employer doesn't have strong corporate responsibility practices. And this trend is going to continue into Generation Z workers and beyond. Taking more steps to demonstrate your corporate responsibility can also help you to retain your existing staff.
Taking corporate responsibility seriously and making changes to include it as a key part of your organization is going to be important for recruiting new staff and keeping them engaged once they join.
CR is important to connect with customers
Amid the global pandemic, lockdowns, and widespread protests, many people’s priorities and views have shifted dramatically in 2020. Being stuck at home for months on end has given a new perspective on finances and how people want to spend their money — consumers are becoming less likely to frivolously spend their disposable income.
Instead, they are looking to spend their money with ethical and sustainable businesses, choosing smaller independents over large corporations. They want to see that their money is contributing to positive changes in the world or in their local area.
Being able to highlight and demonstrate the value of your business and the positive impact you are able to make is essential to connecting with your customers. VA Claims Pro is an example of a business that focuses on the difference their work makes to people’s lives. As a veteran-owned and operated business, VA Claims Pro is able to connect with its target audience and demonstrate how they can help them to receive the benefits they deserve.
Their website shares short testimonials and longer video case studies from veterans the business has helped, showcasing the impact it has in people’s lives. All of this really highlights what the business offers and how it’s doing it in an ethical way, focusing on helping their customers as a priority. Not only are they building a stronger connection with customers but it helps them to stand out from competitors as well.
Other companies are focusing their whole business on sustainability — for example, New Belgium Brewing Company is a Certified B Corporation, which means that they meet the highest verified standards of social and environmental performance, transparency, and accountability.
They produce carbon-neutral beer and promote a range of different environmental and social initiatives on their website. These are some of the key issues and concerns that their target market is likely to share.
Big brands are making changes
Many big brands are sharing ambitious corporate responsibility goals and this is putting my pressure on other businesses to do the same. For example, some of the biggest fashion retailers like H&M are focusing on improving sustainability, reducing waste, and giving more visibility to their supply chain and company practices.
However, it's not enough just to set out ambitious goals and promise change without taking any action. Consumers want to see companies making a noticeable difference, they want to see the outcome of these changes. And it's easier than ever for employees to speak up and expose companies for not following through on their promises or failing to achieve their targets.
What CR actions can you take?
Corporate responsibility covers a huge range of different things but a good starting point is to work out what your company’s core values are and what values are going to be important to your target audience. These values should be reflected in your CR actions. A few key things to consider are:
- Creating CR policies and goals that highlight changes your business will be making such as reducing your carbon footprint, improving labor policies, using sustainable materials.
- Making donations to charities and non-profit organization that support the causes your business is focused on
- Volunteering for charities or within your local community.
Corporate responsibility is going to become an increasingly important part of how businesses connect with customers, potential customers, and how they attract new employees in the future. So it’s essential that companies start to consider how they can incorporate actions on key issues like sustainability and equality into their operations.