The REAL DEAL Benefits Of Being Socially Responsible in Business
There are benefits on both sides of being a socially responsible business. We all like to connect with good people, as do customers, who also prefer to associate with good businesses. And being a socially responsible business is a great way to attract positive attention to your organization, and also make your employees feel proud to be part of your enterprise. But before you can do this, it’s important to have clearly defined core values.
Build Your Brand From The Inside Out
Being socially responsible is a great way to build your brand, and create a positive name for yourself. Things like goodwill, trust, and an overall positive image are possible through being socially responsible. If you support the right type of cause, there can also be many co-branding and marketing opportunities.
Attract And Engage Appropriate Talent
Gen Y and Gen X are generally suspicious of big business, the government, and the media. And are especially connected to working for socially responsible companies. Millennial case studies show that around 80 percent of 13- to 25-year-olds surveyed want to work for businesses that care about their effect on society. Others studies have found that MBA graduates would prefer to sacrifice on average $11,000 of their annual salary to work for a socially responsible establishment. The current trends show that people really do want to make a difference in the world, and this is a great way to attract and engage the appropriate talent in your business. When staff members are proud of where they work they feel a sense of loyalty, which makes them ambassadors for the business.
People Want To Contribute To Something That Makes A Difference And Has A Positive Impact On The World
People Love Being Socially Responsible
Many studies have found that 50% of consumers, surveyed worldwide would be willing to pay more for goods and services from socially responsible companies. The caution is, and this is important for businesses to think about, is that in countries where there was already some disbelief, the willingness to spend more was lower. This means that businesses and the initiatives you’re applying need to be totally authentic. It’s extremely important to always be demonstrating “inclusiveness, kindness and transparency,” in everything from your business culture to your promotional campaigns.
It Helps To Encourage Connectivity And Engagement
When you include your team in larger processes and vision planning, such as designing and applying a socially responsible initiative for your business. They’ll feel that they are part of something bigger, inspired, that they have influence and can create impact. Therefore they will be more engaged and generally speaking, people are most engaged when they feel part of a collective, rather than bound to their usual role and tasks.
It Keeps Your Business Innovative
Choosing to have a unique and value-add impact, as a business, and doing things differently to your competitors helps your business stand out more. This applies to all areas of business, including a socially responsible business. Your relationship with society is as important as your relationship with customers. Having a strong vision and connection to a cause that makes a positive impact provides a genuine “value add, caring, and innovative advantage.”
Collaborative Leadership For Good
Being a small operation or a ‘sole trader’ needn’t hold you back from becoming a socially responsible business. The same principles apply whether your business is large or small. You can still be an inspiration, influence others and create social impact by simply collaborating with other small business owners, consultants and sole traders that have aligned values and who are equally passionate about making a positive difference in the world.
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