Corporate social responsibility can produce happier employees
Corporate social responsibility can increase team engagement, boost employee happiness and promote a positive, productive workforce.
When employees are invested in the success of their company, the benefits are manifold. Not only are they more engaged with their work, but they are happier and healthier, and they will align with the company’s vision for ongoing success.
Getting to that point can come about in several different ways, but one of the most popular modern strategies is utilising corporate social responsibility (CSR). Here’s what a CSR program can do for your company – and, more importantly, your employees.
What is corporate social responsibility?
Corporate social responsibility is a way of ensuring a company conducts its business ethically, and it’s becoming a popular selling point for businesses when recruiting new hires. Taking into account their social, economic and environmental impact, businesses can use CSR as a way to:
- Integrate with local communities.
- Develop relationships with customers and staff.
- Protect the environment and enact sustainable programs.
- Make socially responsible investments.
With 77% of companies citing corporate social responsibility as “important”, and 64% of CEOs increasing their investments in corporate social responsibility, it’s a sign of the times how much people are invested in the betterment of the environment and society as a whole.
But just because CEOs are throwing money at corporate social responsibility doesn’t necessarily mean employees will engage with it. As a leader, it’s vital to do your due diligence and focus on programs that are relevant to current issues and will increase your team’s spirit.
What are the benefits of corporate social responsibility?
From giving them a sense of purpose to increased satisfaction levels, employees can gain huge benefits from a properly implemented corporate social responsibility regimen.
A paper on how CSR affects employees within an organisation gleaned some fascinating insights into its key benefits:
- Enhanced employee identification: Rather than floating from job to job, employees working for a company with a corporate social responsibility initiative felt “a greater sense of identity with the business they worked for”.
- Improved retention: Everyone wants to know how to reduce turnover, and CSR could be the answer. The paper found corporate social responsibility can increase an employee’s intention to stay with their current employer, and even improve their overall commitment to the company.
- More attractive company culture: In order to maintain low attrition rates, you need to recruit and retain the best employees. corporate social responsibility can help by making the company culture more attractive to potential hires.
- Better employee engagement and culture: When staff feel good about their employer’s CSR involvement, they have shown to be more and engaged and to perform better in their roles.
Volunteering for a happier workforce
Volunteering is one of the most popular forms of corporate social responsibility in the modern workplace, and it’s easy to see why. Not only does it let staff step away from their desks and get out into the community, but it integrates them with local organisations and provides them with a sense of giving that only volunteering can generate.
RedBalloon for Business is firmly committed to volunteering initiatives – so much so that we participate in the Pledge 1% program. That means all our employees are given the opportunity to take two days out of their work year to volunteer at a charity of their choice. For happier, healthier and more socially conscious employees, CSR activities provides a platform for employees to feel more engaged.
How employee reward programs can help
Corporate social responsibility programs are only half the battle to get your staff fully engaged with the business. That’s why we combine our volunteering program with a rewards and recognition program. RedBalloon for Business staff who successfully complete their volunteering at a charity receive an award to showcase their community work. These programs allow employees to track their corporate social responsibility contributions and facilitate positive behaviours that align with company values. Unsurprisingly, the recognition of their hard work and investment in the local community is often exactly what is needed to drive productivity back in the workplace.
You don’t necessarily have to follow the Pledge 1% example. There are so many different corporate social responsibility initiatives that you can combine with a rewards program to boost employee engagement. Consider setting up an internal leaderboard so staff can follow and recognise their co-workers’ success in being socially responsible.
There are countless ways you can improve the workplace through corporate social responsibility – and you can take it to the next level by combining it with a rewards program for better employee engagement.
When utilised properly, corporate social responsibility can boost team engagement and employee happiness.
To find out more about how the RedBalloon for Business team can help you reward and recognise your people, contact us today.