Corporate Social Responsibility - Balancing Investment and Return

Public Affairs

Dec 8

Companies should always invest with great causes in the communities they serve to engage their existing and potential customers and their workforce but also to demonstrate good corporate citizenship. So how does your company decide what cause to support with its resources? Here are 3 important factors to consider with your company’s Corporate Social Responsibility (CSR) strategy so that you can generate the greatest return on your investment:

1) ALIGN WITH THE MISSION, VISION, and VALUES:

These social investments, while doing good, should always align with your company's mission, vision, and values to create the greatest return on investment. With thousands of worthy causes to choose from, it is important to designate your investment to a cause that will utilize those funds or volunteerism to generate the greatest local or global community impact. This impact should closely match with your company’s business objectives, empower employees and create positive goodwill among consumers.

2) INCLUDE YOUR EMPLOYEES:

Think about ways that you can engage your workforce in the process of the investment, whether it is through encouraging and incentivizing individual employee giving to causes that align with your company’s mission via financial match. Or enrich your employees’ work experience by supporting connection to important causes through volunteerism. Considering that much of today’s workforce is working remotely now more than ever, finding ways to keep employees motivated and fostering teamwork in the workplace has become an ongoing challenge. You can utilize your CSR strategy to encourage your workforce to collaborate in their giving, fundraising, and volunteer efforts. This will help designate your company as a preferred employer among your current and prospective employees.

3) THE COMPANY THAT TELLS THE BEST STORY WINS:

Today’s consumers prefer to align with companies that make a positive impact in the local and global community. In an economy filled with competition, your corporate social investment could be the deciding factor that a consumer considers when choosing to do business with you. Make sure that you tell a great story about the impact of your company’s investment. Communicating positively about how your company invests in the community increases a decision-making consumer’s propensity to do business with your organization.

What is the best corporate social investment that your company makes in the community? Share on your favorite social channels and be sure to tag Daniel J. Fields Consulting so we can continue the conversation!

Contact Danny here to learn more about how you can improve your CSR strategy.