Implementing social responsibility initiatives
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?
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.