Giving back in your local community is more than just hosting a food drive or running a 5K for a charity. At South Florida-based PR agency Durée & Company, we know that corporate social responsibility (CSR) is at the core of each of our clients’ businesses and we wanted to start the year off sharing why it’s important, some key statistics according to Engage for Good and how it sets your company apart from competitors.
Corporate social responsibility has become increasingly important to companies over the last several years. Whether it’s by empowering women, helping the environment, or trying to end poverty, more and more companies are incorporating social responsibility into their overall business strategy.
Cause sponsored is predicted to reach $2.23 billion in 2019, a projected increase of 4.6% over 2018.
64% of consumers choose, switch, avoid or boycott a brand based on its stand on society issues.
86% of consumers believe that companies should take a stand for socials issues.
Brands with a purpose set on improving our quality of life outperform the stock market by 120%.
Turnover dropped by 57% in employee groups most deeply connected to their companies’ giving and volunteering efforts.
With statistics like the above, there’s no wonder why companies strive to incorporate these non-mandated practices within their company culture. Here are the compelling reasons why a company engages in corporate social responsibility:
Improves Public Image
Companies that demonstrate a commitment to various causes are perceived as more philanthropic than companies whose CSR endeavors are non-existent. Consumers feel good shopping at institutions that help the community. Companies can improve their public image by supporting nonprofits through monetary donations, volunteerism, in-kind donations of products and services through strong partnerships.
Increases Media Coverage
It won’t matter how much you or your company is doing to help make the world a better place if nobody knows about it. Engage with a national public relations firm, like D&Co., to help develop a media strategy to get the word out about the good work you are doing in your local community. From there, your media partner will serve as an extension of your company and begin to publicize your positive impact.
Boosts Employee Engagement / Helps Retain Top Talent
Want to know the secret to boosting morale from your employees? It’s simple – employees enjoy working for companies that display a good public image. Nearly 60% of employees who are proud of their company’s social responsibility are engaged at their jobs. When companies show they are dedicated to improving their communities or connecting with national organizations to support a social cause, they are also more likely to attract and retain valuable, hardworking, and engaged employees.
Helps Companies Stand Out from the Competition
When companies are involved in the community, they stand out from the competition. Building relationships with customers and their neighborhoods help improve a brand’s image.
When social responsibility is recognized as part of a company’s business model, it can improve public image, creative positive publicity, help attract and retain top talent and help you stand out from the competition. Is a CSR plan part of your company’s new year’s resolution? Call us today and we can help identify an organization to establish a partnership with to kickoff a program for your brand.
About Durée & Company
Durée & Company, Inc. is an award-winning full-service public relations, marketing and special events firm with offices in Fort Lauderdale, Florida and Aspen, Colorado. The firm serves the corporate, agency and non-profit arenas for local, national and international clients focusing on public relations for real estate, public relations for restaurants, public relations for law firms, public relations for charities, public relations for healthcare, and many more. Durée & Company services include Public Relations, Social Media, Marketing, Advertising, Special Events, and Radio Promotions and Outreach.