Why should companies be Socially Responsible?

Thursday, March 7th, 2013

After talking about a couple of “Socially Responsible Companies” and how they are socially responsible I feel it is now time to explain why  companies should be Socially Responsible?

Social Responsiblity creates goodwill and a positive image for the brand. By becoming socially responsible it can help establish trust and good assets.Without things these wouldn’t even be a business.

Also, due to the use of social responsibility companies can see an increase in employee commitment, performance and job satisfaction.  This is turn reduces your recruitment costs and improves work productivity.

Branding your business as ‘socially responsible’ differentiates you from your competitors. Developing products that are environmentally or socially responsible adds value and gives people a good reason to buy from you.

Another reason companies should be social responsible is because investors and financiers are attracted to companies who are socially responsible. These decision-makers know this reflects good management and a positive reputation. This could even be the deciding factor in someone choosing to support your company.

If a business is socially responsible it’s staff can develop their leadership and project management skills through a corporate social responsibility program by using team building exercises, encouraging your employees to form relationships with people they would not normally meet.

Being socially sesponsible is also very cost effective, environmental involvement such as recycling and conserving energy increase in-house efficiency and cut costs. Introducing a corporate social responsibility program gives you a good reason to examine and improve on your spending cost and budgeting.

Related links: Article, Time Magazine, Blog, Truist, MovingWorlds

In my next two post I will go back to talking about a couple more “Socially Responsible” companies.

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