DEFINING CORPORATE SOCIAL RESPONSIBILITY (CSR)
Corporate Social Responsibility is defined as the necessary measures that an organization takes to guarantee positive social and environmental outcomes, which tallies with the organization’s mode of operation.
Companies or organizations dedicated to championing Corporate Social Responsibility understand its importance in an internet-based world, especially in an era where millennials are becoming more influential in societal happenings. These companies employ CSR methodologies in an attempt to solve certain societal and environmental issues.
HOW IMPORTANT IS CSR FOR MILLENNIALS?
Over the last few years, the consumer population has evolved to include millennials. It has become imperative for companies and businesses to upgrade their Corporate Social Responsibility status to include the millennials. Without a doubt, this generation of young and enthusiastic people is becoming heavily influential in the economic system.
Millennials are known to be enthusiastic about technology and internet-based activities. Before they decide to patronize a business, they will most likely research the business online and consider the ethical position of such a business. For most millennials, making the world a better and safer place is a desirable goal. Therefore, this generation of young men and women born in the noughties do not want to associate with companies that do not seek to improve social and environmental standards.
Some millennials may even consider a company’s CSR status before accepting an employment offer. In research conducted by Deloitte, it was discovered that seventy percent of millennials consider a company’s commitment to Corporate Social Responsibility before deciding to work with them.
Millennials are increasingly becoming the most important group of an organization’s workforce. As a result, companies must improve their CSR strategy to hire this group of vibrant individuals.
CONCLUSION
Corporate Social Responsibility is a business strategy that will stand the test of time. As new generations come up alongside technological advancements, businesses must strive to sustain relevance by improving their CSR techniques.
Action Change is a charity that works with corporates across the UK, USA and South Africa. Our corporate partnership works with your business to help build a partnership that will give you the edge. We work with you to ensure that you support a sustainable project that will compliment your brand and mission and attract all stakeholders. To find out more how to start the perfect partnership with Action Change, check out our corporate site
