Five stats that will influence your boss to work on their CSR
While adopting socially responsible spending habits and supporting ethical causes may seem like an obvious step for a business to take in our purpose-driven world, it can be hard to encourage your workplace to do so if you’re not a key decision maker.
Making small changes in the office like purchasing ethical coffee beans or giving gifts to employees and clients from impact-driven brands is an easy way for a business to engage in corporate social responsibility (CSR), while also benefiting their employees and customers.
We’ve taken the hard work out of searching for trends that demonstrate the importance of CSR in any business or organisation, and found five of the most impressive stats to help you convince your boss to choose Hello Good World.
1. Over 50% of people are happy to pay more for a product or service from a business that values sustainability
A 2015 survey conducted by Nielsen found that due to changes in climate, disasters and poor living conditions across the globe, consumers are putting more thought into social responsibility, and spending money on brands that value sustainability and being environmentally friendly. When it comes to making purchases, people are willing to spend more if they know their money is going towards a good cause.
2. Over 90% of consumers are likely to switch to purchasing from brands that support a good causeA study led by a Marketing and PR firm concludes that over 90% of consumers will happily switch to brands that support a good cause, and remain loyal to them. This shows that adopting socially responsible practices can potentially attract new customers to your business, as well as help with customer retention.
3. Engaging with products and projects that align with positive corporate social responsibility can reduce employee turnover by 50%Not only does CSR have a positive impact on clients and consumers, it also has an effect on employees. A project launched by the Campbell Soup Company found that engaging in meaningful CSR reduces the employee turnover rate by a staggering 50%, as socially responsible company values align with the personal values of many employees, which motivates them to continue work.
4. Corporate social responsibility is the third most important driver of employee engagement, morale and motivationSocially responsible practices and spending habits also influence employee engagement and morale at work. This whitepaper found that CSR is the third most important driver of employee engagement and motivation at work, which in turn has an effect on the overall satisfaction and pride in the company that employees feel.
5. For every $1 that's spent on a product or service provided by a social enterprise, at least $3 worth of value is added into the local global community they're supporting
As much as CSR helps organisation with customer retention and employee engagement, social responsibility is most importantly about helping communities in need. With every $1 that is spent on a product or service provided by a social enterprise, at least $3 worth of value is added into the local, global community they're supporting. This value comes in many forms, from educational opportunities through to employment and monetary support, as well as food and clean drinking water.