Importance of Corporate Social Responsibility

Corporate social responsibility is a hot topic these days, propelled by conscious adult millennials, calls for corporate transparency and ease of access to information, and the potential of social media to make or break a business. With organizations like Do Some Good becoming powerful tools for consumers to get involved and see which companies are practicing giving back, it’s never been more important for business owners to engage with some form of community practice.

But it’s also more than just a marketing ploy, CSR is a critical part of business and community building, employee morale and job satisfaction, as well as personal well-being and mental health.

From a business standpoint, engaging with some sort of non-profit initiative helps to:

  • build and differentiate your brand from others
  • engage customers – 55% of people will pay more for socially responsible brands
  • network with community members and increase organic reach for brand recognition
  • get free media exposure and improve public image
  • save money through tax breaks

For employees, this can help: 

  • boosts morale and increases positivity
  • increases creativity
  • bolsters retention
  • positive impacts on mental health
  • gives a sense of purpose to self and to work

But, most importantly, it really helps to build a unified global community, as well as positively impact local initiatives. Poverty reduction, environmental clean-up, and community resources all help to make for a more cohesive and healthy society - something that benefits both corporations and consumers alike.

So, of the $17.3 billion corporate dollars spent on charity work annually, where does it all go?

Do Some Good is a perfect example of transparency through the accessibility of online information. Companies post stories of involvement and the amount of money raised, while consumers and potential employees have full access to the list of corporations that are involved in charity work in their community. Here’s a short video that explains the benefits of being involved with Do Some Good, especially increasing community presence and engagement.

We at KAN Management Services are also whole-heartedly engaging with our community and helping to support charitable initiatives. See our Do Some Good profile here for stories and more information on how we give back. We know it’s more than just a business move - corporate responsibility has the potential to impact all of our lives. We challenge ourselves as a company and each of us personally, to positively impact the world around us.

If nothing else, there’s no better feeling than helping someone. It may not be quantifiable, but that sort of personal pride is priceless.

If you have any questions on Do Some Good, or the services KAN Management offers please send us a message we love to chat.

- Blog written by KAN Management - May 24th, 2019