Every person wants to make their impact on the world. Even if it’s something small, most people have the desire to do some good. If you can help them feel like they’ve done good, they’ll want to keep doing business with you. That’s just part of the power of corporate social responsibility initiatives. They make customers feel like they’re helping their community in a small way by doing business with you.
Specifically, corporate social responsibility initiatives are created to provide economic, social, and environmental benefits to the company’s stakeholders.
By implementing these initiatives, you can grow your business and also give back to the community.
Here are 5 ways small businesses can implement corporate social responsibility initiatives…
1. Do Your Research
To figure out what initiatives you should implement, you should research past companies and see what they’ve done successfully.
A quick Google search will give you hundreds of ideas for initiatives that you can run.
Here are some examples of corporate social responsibility initiatives in action:
- LinkedIn has “InDay.” One Friday each month, the company has their employees participate in activities like community service,
- Target has donated over $875 million to education since 2010
- Ciscos employees participate in over 160,000 volunteer hours around the world each year
2. Know Your Goals
We’ve talked about the importance of company culture in the past. Hopefully, you’re in the process of building a strong company culture if you don’t have one already.
Whatever the case, your corporate social responsibility goals should be in line with your company culture, and be somewhat relevant to what your company does.
Remember not to try and do too much. Set a few healthy goals, and aim to provide help in one or two areas to start. This will help you avoid overspending as well as overwhelm.
3. Set a Budget
Like any business endeavor, you need to know the costs involved as well as how much you can afford to spend.
Start by creating a budget for corporate social responsibility initiatives. Then research and estimate the costs of different corporate social responsibility ideas.
It is good to benefit the community and your stakeholders, but it’s important to do it in a way where it’s financially responsible for your company (otherwise, you may not be in business long enough to implement future corporate responsibility initiatives!).
4. Create the Initiatives
With your goals and budget in mind, it’s time to set off to create your initiatives.
Here are some traits of good corporate social responsibility initiatives:
- Benefit stakeholders
- Engage employees and further build company culture
- Fit in with your company’s values and principles
5. Get Buy-In from Your Team
Once you’ve decided on what corporate social responsibility initiatives to run with, you need to get your team on board.
Show them how these initiatives will help the business grow and profit. For example, perhaps the initiatives will increase brand recognition and loyalty.
Also explain exactly how these initiatives will benefit the community and stakeholders, as well as how it will benefit them.
Move Forward With Corporate Social Responsibility
You’re probably not just in business to make a quick buck. Odds are, you want to give back and make an impact in your community as well.
We all want to make our own impact on the world. You can make your impact (and help your customers make their impact) by implementing corporate social responsibility initiatives. These 5 ways will get you started.