Corporate Social Responsibility (CSR) is gaining a lot of attention today because it creates business value while promoting social change. Developing a CSR program may seem like a daunting task, but having a successful CSR program can both better the community and the company itself.
1. Develop a Vision
Who do you want to help? Do you want to exclusively support one or more causes? When developing a CSR program, it is critical to examine the company’s core beliefs, business strategy, and model of success. Once you determine what initiatives fit within your company’s culture, you can begin to decide which CSR programs fit well with your organization.
2. Consider Your Employees
When creating a CSR program, be sure to allow your employees to pursue their own passions. Your employees may already be involved with giving back, and the company could support their movement. If you want your employees to be actively engaged, it is important to consider where, who and what they want to help. An organization may also decide to pursue a combination of both: support one primary company project as well as supporting individual employee projects.
3. Create a Plan
Once you determine what the focus of your CSR program is, you must decide who is responsible for implementing and tracking the program. This is also the time to arrange the little details of the plan, including how, when, who will get involved in the initiate. It is also essential to determine how you will measure the success and effectiveness of the program.
Implementing a CSR program should be communicated both internally and externally. Let your employees know what you are doing because many will want to get involved. Not only does a CSR program create value for employees, but it also builds relationships with customers, investors, and the community. Highlighting the program’s success and involvement can immensely strengthen your business.
Companies should validate their CSR programs through both quantitative and qualitative data. Not only will a sustainability report help your employees see value in your business, but it can also be a powerful tool for investors and other stakeholders.
How businesses implement a CSR program varies considerably; however, these five steps are great touchpoints for building a valuable and useful program. CSR is a great way for a company to benefit itself while also benefiting the society.