CSR (Corporate Social Responsibility) brings many benefits to businesses, according to experts. For example, among the 250 largest corporations in the world, 92% produced a CRS report in 2015 to inform shareholders and the public about their activities.
According to the Harvard Business Review, this number has increased from 64% since the 2005 report, while 500 corporations in Forture Global spend about £16 billion a year on CSR activities. While this number is constantly increasing, employees also say they expect business owners to develop more CSR activities, according to the Huffington Post study, 94% of Gen Z generation think businesses address more issues. Similarly, in 2017, Cone Communication also released a study showing that 78% of employees expect the company to address social injustices.
Katja Jones, Corporate & Community Fundraising Manager at Wood Green, Animal Charity, said that giving employees the opportunity to participate in CSR projects will increase morale and teamwork, as well as improve employee turnover rate, according to Good360 report that participation in social projects reduces employee turnover rate by up to 50%.
According to Ms. Jones, to ensure the effectiveness and success of the CSR program, take the time to research to select the issues that your employees are most concerned about.
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