When it comes to Corporate Social Responsibility (CSR), there are a lot of misconceptions out there. Some people think that CSR is just a way for companies to make themselves look good, while others believe that it’s purely altruistic. The truth is, CSR is a little bit of both. Companies that engage in CSR see many benefits, including increased profits and better relationships with customers and employees while the world around us benefits from the good deeds that these companies are doing- its a win, win!
In this blog post, we will explore 20 mind-blowing statistics about corporate social responsibility in the workplace!
1. Generations matter
41% of millennial investors put a significant amount of effort into understanding a company’s CSR practices, compared to just 27% of Gen X and 16% of baby boomers.
2. the customer is always right
90% of the consumers surveyed are more likely to trust and be loyal to socially responsible businesses compared to companies that don’t show these traits.
3. committed to the community
According to Deloitte, 70% of millennials studied listed their company’s commitment to the community as an influence on their decision to work there.
4. csr is worth it
A study by Nielson found that 66% of consumers are willing to pay more for products and services from companies that are committed to social and environmental responsibility.
5. seeing is believing
A study by Boston Consulting Group found that employees who believe their company is socially responsible are 1.3 times more likely to stay with the company than those who do not believe their company is socially responsible.
6. Culture IS important:
Brands with a Purpose Outperform the Stock Market by 120%.
7. Retain talent
Giving and Volunteering Reduce Employee Turnover by 57%.
8. purpose is key
89% of Executives Say Purpose Drives Employee Satisfaction
- employees who volunteer through their company report being happy with their employer 93%
- Millennials won’t take a job if their employee doesn’t have a strong CSR policy 64%
- assume that companies who don’t speak on social issues don’t care. 49%
9. Investors care
A study by Accenture found that investors are twice as likely to invest in companies that have strong CSR programs.
10. its not all about money
More than half of employees say that they would be willing to take a pay cut if it meant that their company could increase its social responsibility efforts.
11. caring means sharing
Nearly two-thirds of employees say that their company’s social responsibility efforts make them more likely to recommend the company to friends and family.
12. happiness & engagement
93% of employees who volunteer through their company report being happy with their employer, and 54% of those who are proud of their company’s contributions to society are engaged at work.
13. employer of choice
The Cone Communications Millennial Employee Study found that 64% of Millennials won’t take a job if their employee doesn’t have a strong CSR policy, and 83% would be more loyal to a company that helps them contribute to social and environmental issues
14. fulfillment
88% say their job is more fulfilling when they are provided opportunities to make a positive impact on social and environmental issue
15. CSR = positive team culture
Corporate social responsibility is the third most important driver of employee engagement, morale and motivation
%
of companies on the S&P 500 index published a CSR report in 2019, compared to just 20% in 2011.
%
say their job is more fulfilling when they are provided opportunities to make a positive impact on social and environmental issue
16. Be loud and proud:
90% of companies on the S&P 500 index published a CSR report in 2019, compared to just 20% in 2011.
17. zero tolerance
25% of consumers and 22% of investors cite a “zero tolerance” policy toward companies that embrace questionable practice on the ethical front.
18. speak up:
49% assume that companies who don’t speak on social issues don’t care.
19. market value
Effective CSR strategies can increase market value by 4-6%.
20. impressions last
Studies show that CSR functions are responsible for more than 40% of a company’s reputation.
CSR is clearly very important in the workplace, but what does it really mean? Corporate social responsibility (CSR) is a business model that takes into account the ethical and social implications of a company’s actions. In other words, it’s about doing what’s right for society, not just what’s profitable for the company. If your company does not have a CSR program, I highly recommend implementing one! It will benefit not only your employees and customers, but also the world around us. Thank you for reading! 🙂
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Sources:
- 2019 AFLAC CSR SURVEY
- https://viewsforchange.com/list-statistics-demonstrate-importance-csr/
- https://www.givinga.com/insights/blog/10-workplace-giving-statistics/
- https://conecomm.com/2016-millennial-employee-engagement-study/
- https://hellogoodworld.com/blogs/news/csr-stats
- https://impactreporting.co.uk/social-value-stats/
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