Make 2018 Your Biggest CSR Year Yet!

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Corporate social responsibility (CSR) is a must at this point. While some companies may have hung around in the back of the room, checking their watches, and waiting for the trend to pass-- we don’t think this one is going anywhere. Fifteen years ago, only handfuls of companies were issuing sustainability reports. Now, over 9,000 companies have signed on the UN Global Compact pledging to practice good citizenship and responsible practices in their businesses, including hundreds of companies from the Middle East.

CSR has good reasons for sticking around too, other than the feel good vibes you get from contributing positively to the sustainability and goodness of the world, CSR has a range of benefits from cost-saving to effective company branding. If you want this to be your biggest CSR year yet, just take a look at these benefits and you’ll want to join immediately.

1. The cost and benefits of CSR.

If you and your company can truly understand the benefits that you can receive from CSR activities, then there should be no problem implementing such programs.. If you’re pursuing programs targeted at environmental sustainability for example, these are usually actions that are win-win and can save thousands of dollars in business expenses over the long term. By reducing energy consumption, water consumption, packaging materials, and any other consumption habits that we know are bad for the environment, chances are this will also reduce your costs. If you can’t think of ways to reduce your consumption, consider looking to an outside source for a consultation to see all the ways that your company can work to save the environment and save some cash.

2. Soft marketing for the win.

CSR isn’t just about sustainability and the environment. CSR also means implementing projects that have a direct, positive effect on your local community. You can feel good about these projects but also increase your company’s awareness in the community, improve your company culture, and have some good deeds to publish to your online audience for more engagement.

When pursuing this avenue, make sure you seek out the right partnerships to make your CSR initiatives truly effective and beneficial. The right partner will be an organization that aligns with your company’s goals and interests, which will ensure that your company is fulfilling its values and increasing company presence in the right circles. For example, Bayt.com aims to help job seekers in the Middle East and North Africa reach the lifestyle they want through successful employment. Recently Bayt.com partnered with the One Million Arab Coders Initiative, which aims to give Arab youth the tools and skills they need to gain employment. One Million Arab Coders and Bayt.com are both working to aid youth employment in the Middle East and in doing so gaining prominence in their mutual circles resulting in a beneficial relationships for both parties.

3. Innovation. 

When you commit to sustainable and responsible business practices, you can really get the creative juices flowing. Sometimes your most innovative and cutting-edge services or products won’t come to light unless you’re forced to think outside of the box. Hybrid cards? Electric cars? Solar panels? All of these products that are becoming widely used and are generating millions in additional revenue came from a desire to be more sustainable and responsible in our consumption. What could your company come up with if it’s dedicated to CSR? The possibilities are endless and when you realize the potential, this should definitely be your biggest CSR year yet.

4. Company Branding.

Company branding and values (in actions, not just words!) are increasingly becoming a determining factor that attracts top talent. These days, top talent pay attention to companies that are operating in sustainable, responsible, and charitable ways. According to The Bayt.com Millenials in the Middle East and North Africa survey, one in four millennials consider the ethical and socially responsible values of an organizations as a determining factor for loyalty.

If your company doesn’t show that it cares about the earth, its community, and people, then why should a prospective employee believe that you’ll care about them? On top of the cost-saving and marketing benefits of CSR, attracting the right talent to your company is icing on top of the cake.

The time for CSR is now. Actually, it was years ago but you can still catch up by making this year your biggest CSR year yet. There’s nothing to lose, and everything to gain.

  • Date Posted: 27/11/2017
  • Last updated: 29/11/2017
  • Date Posted: 27/11/2017
  • Last updated: 29/11/2017
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