WHY CSR?

CSR is no longer a nice-to-have, it’s a must have. Today’s customers expect businesses of all sizes to “do good” in their community.

A 2015 study exploring CSR’s impact on consumer behaviour found that:

  • 84% of respondents said they tried to purchase products and services that were socially or environmentally responsible whenever possible;
  • 90% were likely to switch brands to one associated with a good cause;
  • more than 50% had boycotted a company after learning it had behaved irresponsibly, and;
  • over 90% of consumers polled expected companies to do more than make a profit.

Beyond opening markets and securing relationships with customers, CSR is a powerful recruitment and retention tool. This is especially true for the Millennial generation (although all generations now prioritize these issues); both Gen Y and Gen Z want to work for companies that actively cultivate their communities.

An extensive 2015 report reviewing 300 studies on the ROI of CSR projects found they:

  • Increase employee productivity up to 13%;
  • Reduce employee turnover rate by up to 50%;
  • Save up to 90 to 200% of the salary of each employee that is retained, and;
  • Make recruiting more competitive; workers are willing to take up to a 5% pay cut to work at companies with strong CSR initiatives.