Intelligent CXO Issue 03 | Page 30

A STRUCTURED CSR PROGRAMME IS THE PRACTICAL STEP DEVELOPED OUT OF AN ORGANISATION ’ S SET OF MEANINGS , BELIEFS AND VALUES , NAMELY ITS CULTURE . and supporting local and national charities . This provides a structure that will help an organisation plan and act responsibly .
Having now established a new standard , we then developed the CSR Accreditation as a visible testimony of independent , expert recognition to being a socially responsible organisation . The accreditation provides a roadmap for planning future activity and is very much the start of a journey that delivers impact purpose and social and financial value . The application process provides a simple and straightforward template where you can record activity against the social responsibility four pillars . The application is assessed by an independent assessment panel that expects to see evidence to support the claims made .
The question is why be a responsible business ?
Isn ’ t CSR just a distraction , an unnecessary cost , a nice-to-have if you have time ? This is definitely not the case . Social responsibility is driving forward successful businesses .
A structured CSR programme is the practical step developed out of an organisation ’ s set of meanings , beliefs and values , namely its culture . This sets out that an organisation ’ s social responsibility for its operational impact on society is integrated into the culture . It is a powerful force that gives meaning to people ’ s lives , reduces uncertainty and creates stability but it is also the determinant of the success or failure of an organisation .
There is now no doubt about the impact of CSR on profitability for an organisation
Social responsibility is a new profit centre . The future shape of business will be measured in both social and financial value . The clear drivers for CSR can be seen in a Return on Social Investment ( ROSI ) and a Social Return on Investment ( SROI ).
CSR now drives an organisation ’ s brand and business reputation and is a powerful emotional investment that has a positive impact on all stakeholders . It makes us feel good because it is about something good . It is also a way to add value and give greater purpose to our time beyond the job role and title . This is about staff engagement , improved productivity and mental health and wellbeing . Employees want to feel proud of the organisation they work for . An employee with a positive attitude towards the company , is less likely to look for a job elsewhere .
Being a responsible , sustainable business makes it easier to recruit new employees . There appears to be a change in mindset from those seeking employment for the first time . This may be about underpinning value for business in engaging with the next generation from a CSR perspective . In other words , an organisation that delivers social value . This is about lining up your values with those of the next generation .
And there is the measurable operational costs savings and better financial performance by reducing resource use , waste and emissions , you can help the environment and save money too .
Richard Collins , Founder of CSR-A
It also means easier access to capital . Investors who are pouring money into companies want to know that their funds are being used properly . Not only does this mean that corporations must have sound business plans and budgets , but it also means that they should have a strong sense of corporate social responsibility . Investors care about corporate social responsibility and so should companies .
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