If you’re in the business world, you may have been hearing about corporate social responsibility (CSR) in recent years. CSR is the umbrella term for businesses that seek to make a positive impact on the world through their activities. Many companies have begun adopting a CSR strategy in response to increasing customer demand and pressure from external stakeholders.
Some business owners have gone the extra mile to show support for a cause that they personally care about. Investor Stefan Soloviev, for example, recently donated a million dollars to help Ukraine, partially due to his family roots in that region. However, there are other business owners who pretend like they want to help society but fail to back it up with actions. To ensure that your company lives up to what you say, you should adopt practices that help you remain consistent.
Track Your Performance
In order for your company to be effective and help make a difference, you must be able to measure the impact you’re making. This means setting quantifiable goals that include metrics and timelines for progress. For example, if your company is working on a campaign to promote recycling, you’d want to set a goal to increase the number of people recycling by 10% by the end of the next year.
Keep Your Employees Updated
Another way you can confirm that your company is serious about corporate social responsibility is by ensuring your employees are aware of your company’s CSR strategy. This can be done by communicating your company’s CSR strategy in employee handbooks, presentations, and meetings. You can also direct your employees to your company’s CSR website for additional information. You’re not just aiming to inform your employees about your strategy; you’re also aiming to get them excited about it.
Listen to Feedback
Feedback is an important part of measuring your company’s performance when it comes to social responsibility. By welcoming feedback from stakeholders and responding to negative feedback with the goal of improving your performance, you demonstrate that social responsibility is a high priority for your company. Make sure you respond to feedback in a timely manner and that you’re constructive and thoughtful in your responses.
Your company’s CSR is more than just a marketing strategy. It’s something that you have to actually do, and your intentions should be aligned with your actions. By taking the right steps, you can help make the world a better place.