Doing Well by Doing Good

Doing Well by Doing Good

With consumer priorities of today, business is a lot more than just business. Consumers are seeking more than just profit motives and have begun caring about the ethical values and social responsibility of the companies that they support.

Doing Well by Doing Good

The amount of effort that a company puts into corporate social responsibility (CSR) reflects goodwill, a quality that attracts consumers who want their needs prioritised. Companies that take good care of communities have painted themselves to be focused, long term and inclusive. Needless to say, CSR is a way for your company to do well and do good at the same time.

Brand image translates to sales
First impressions count because consumers are flushed with brands on a daily basis and judge based on momentary considerations. The community serves as a good avenue for you to put out the voice of your brand and there is no better way than to be recognised through CSR.
 
Framing consumer minds to recognise this as a key focus of your brand image will not only make consumers trust you, it will also invoke brand feelings because your company supports the same causes that they do. Lending the community a hand will massively boost your brand’s equity. The gradual benefits of these come in the forms of long-term financial gain as well as an increase in value.

Distinguishes your brand
75 per cent of a company’s value is the result of its reputation. This is brought about mainly through the power of first impressions and word of mouth. We all know that these are proven to stick and hit your company very directly.
 
Identifying your CSR method will help you find your voice and incorporate your values into daily operational methods. Get personal with your community and build rapport so that people will identify you as a company that takes time catering to market needs.

An employer of choice
Being able to attract employees of high calibre is achieved through numerous ways including attractive employee benefits and flexible work arrangements.
 
A company framework that includes CSR has been proven to make the company more attractive to future employees because of the presence of good ethics, group selflessness and understanding. Allowing employees to be a part of CSR opportunities will also allow them to expand their skillsets while contributing to causes they feel passionate about. Employees will look forward to having their perspectives broadened at work because your company supports their growth.

Cost savings
While some argue that CSR will deplete resources, the objective of sustainability is to create a foundation that will promote long-term trading. Besides, diminishing returns are only a sign that CSR has been normalised. Even then, your company using less packaging, less energy and making products recyclable will only result in immense savings in the long run.

Genuine service
Before you decide to jump on the bandwagon, make sure you understand the essence of what makes CSR. It’s more than just about saving paper and making donations, it is about caring about the welfare of the community that you serve and operating in a manner that is transparent and ethical.

CSR is your small part in bringing more good to the world. That it also helps your start-up is a bonus that makes it all the sweeter.

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