CSR is a self-regulating business model that allows a company to be socially accountable not only to itself but also to its stakeholders and the public. Furthermore, by practicing CSR, a company adds values to the society and the environment without compromising with the business model.
Benefits provided by CSR
Improved public image
This is crucial, as consumers assess your public image when deciding whether to buy from you. Something simple, like staff members volunteering an hour a week at a charity, shows that you’re a brand committed to helping others. As a result, you’ll appear much more favourable to consumers.
Increased brand awareness and recognition
If you’re committed to ethical practices, this news will spread. More people will therefore hear about your brand, which creates an increased brand awareness.
Many simple changes in favor of sustainability, such as using less packaging, will help to decrease your production costs. Moreover, with the focus on CSR, BrainLog would offer the possibility of collecting live data through a monitoring system and innovative technology for reducing the possible danger through risk analysis and predicting potential issues with the purpose of cost savings.
An advantage over competitors
By embracing CSR, you stand out from competitors in your industry. You establish yourself as a company committed to going one step further by considering social and environmental factors.
Increased customer engagement and stakeholders engagement
If you’re using sustainable systems, you should shout it from the rooftops. Post it on your social media channels and create a story out of your efforts. Furthermore, you should show your efforts to local media outlets in the hope they’ll give it some coverage. Customers will follow this and engage with your brand and operations.
Greater employee engagement
Similar to customer engagement, you also need to ensure that your employees know your CSR strategies. It’s proven that employees enjoy working more for a company that has a good public image than one that doesn’t. Furthermore, by showing that you’re committed to things like human rights, you’re much more likely to attract and retain the top candidates.
More benefits for employees
There is also a range of benefits for your employees when you embrace CSR. Your workplace will be a more positive and productive place to work, and by promoting things like volunteering, you encourage personal and professional growth.
- For enterprises, CSR and RBC provide important benefits in terms of risk management, cost savings, access to capital, customer relationships, HR management, sustainability of operations, ability to innovate and eventually profit
- For the EU economy, CSR and RBC make companies more sustainable and innovative, which contributes to a more sustainable economy
- For society, CSR and RBC offer a set of values on which we can build a more cohesive society and on which we can base the transition to a sustainable economic system.