Why CSR? The importance of CSR activities and its benefits

Posted by Linda Hudson on September 23rd, 2019

The corporate social responsibility is all about the organization lending their help towards people who are all looking for the support from society and the environment. The social responsibility is more than donating the money to the NGO or particular people, also their contribution expands up to the health and welfare of the society. Moreover they operate transparently and ethically. Right Corporate social responsibility strategy helps to improve the socio economic standards of the particular location or people.  

Types of corporate social responsibility

There are four types of corporate social responsibilities. They are;

• Community-based responsibility- Businesses work with the other organization to improve the quality of life of the local community people.
• Philanthropy- The organization donates money to a good cause through the charitable trust.
• HR based responsibility- Investing in projects that improve the well-being of the staff.
• Environmental responsibility- It mainly focuses on ecological issues such as natural calamities.

Advantages of corporate social responsibility

Here are some of the advantages through CSR. They are;

Employee with satisfaction

The employee should be proud of the organization generally they work for. An employee with a positive attitude will help the company to grow next level. Corporate social responsibility is one of the strategies to retain employee within their organization. Motivating your employees and taking care of their health is also the part of CSR activities. The positive impact of the community

Through the corporate social responsibility activities, the positive image about the organization will be built among the society. Your work will get appreciation not only from that particular area but also from other sections of the people through various mediums. So you don’t need to waste your money for advertisement and you will get free and positive advertisement from these kinds of works. This will also make a huge impact while hiring employees since they will love to work with your organisation. Hence this is also one of the best recruiting strategies for your company.

Business opportunities

Usually, the CSR requires open-minded approaches. The organization should be in constant touch with their customers, suppliers which helps them to understand the difficulties faced by them while using or selling products of that organisation. Through continuous interaction with other parties help you to know the new business opportunities.

Customer’s satisfaction

The very important thing for the organization or a company is the customer’s satisfaction. The strong record of corporate social responsibility will help you to build the customers trust towards your organization.

The corporate social responsibility programs have the ability to enhance your organization's growth rate and helps to build the brand reputation.