CSR in Business
CSR - A Top Driven Approach
- It is essential that CSR flow right down in the hierarchy in any organization. People must be made aware of their responsibility in the area of CSR. This is possible by making the involvement of each employee in an organization a criterion for the evaluation of that employee. This will instill a sense of pressure on each employee to take an active participation the CSR.
- A CSR index should be formed and a certain proportion of each employee's salary should be directly co-related with this index.
- On the lines of the quality statement and quality policy each company should have its own CSR policy and statement to which each and every employee of that organization should be accountable.
- There should be incentives and awards that would motivate the employees towards involvement in CSR.
- Gone are the days when one man could change the entire community. It's the duty of each and every individual to make in an effort in improving the living of the entire mankind.
- A continuous method of appraisal with respect to CSR should be undertaken. This will greatly encourage the employees to put in their best efforts in the area of CSR.
- There should be an annual/ monthly declaration of all the CSR activities undertaken which will make public all documents related to the CSR activities including the investment done, time taken for the result to happen, benefits accruing to all the stake holder. This will greatly increase the transparency in the system and will this increase employee participation.
Corporate Social Resposibility
Strengths and Opportunities ....
- Strengths
Improved financial performance- Reduced operating costs
- Enhanced brand value and reputation
- Long-term sustainability for the company and society
- Long-term return on investments
- Better risk and crisis management
- Increased worker commitment
- Good relations with government and communities
- Positive HR benefits
- Sensitized work environment
- Higher employee morale
- Higher productivity
- Higher awareness of social issues
- Respect from consumers
- Respect from Society and international partners
- Feel good factor of the families of employees
- Positive feeling in potential employees
- Positive image of the company
- Opportunities
- Shrinking government resources, coupled with a distrust of regulations, has led to the exploration of voluntary and non-regulatory initiatives instead
- There is a growing demand for corporate disclosure from stakeholders, including customers, suppliers, employees, communities, investors, and activist organizations
- There is evidence that the ethical conduct of companies exerts a growing influence on the purchasing decisions of customers
- Investors are changing the way they assess companies' performance, and are making decisions based on criteria that include ethical concerns
- Employees are increasingly looking beyond paychecks and benefits, and seeking out employers whose philosophies and operating practices match their own principles
- As stakeholders are becoming increasingly interested in business affairs, many companies are taking steps to ensure that their partners conduct themselves in a socially responsible manner
