According to George and Jones (2020), a company’s stance on social responsibility is the way its managers and employees view their duty or obligation to make decisions that protect, enhance, and promote the welfare and well-being of stakeholders and society as a whole. This includes the way the company handles changing demographics and emerging technologies.
Respond to the following in a minimum of 175 words:
What do you consider to be the top three benefits to social responsibility?
How does your organization implement social responsibility initiatives?
Corporate Social Responsibility (CSR) is no longer a nice-to-have; it’s a need-to-have. Businesses, small or large, are expected to lead the way in creating a progressive CSR program that gives back to people and the planet. CSR increases employee engagement. Extensive research proves that CSR and a strong sense of employee purpose actively contribute to increased employee engagement. That’s important because when a company has engaged employees, they see a 17% increase in productivity, are 21% more profitable and can have 41% lower absenteeism. Innovation also increases in an engaged workplace. Translating this into financials, disengaged employees cost businesses between $450 and $550 billion annually. Giving back to the community is a virtuous circle in which engaged employees are enriched by volunteering opportunities that further engage and encourage them.