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Why is Corporate Social Responsibility Important in 2022?

Why is Corporate Social Responsibility Important in 2022? Key drivers range from The Great Resignation with changing employee demographics, to purpose in the workplace & remote teammates. Now is this time to ensure your team has the right CSR plan in place.

Everyone knows that the New Year is a great time to set personal goals and make resolutions.  It is also the time when leaders communicate company goals. Why not start 2022 off right? It may be time to think through your corporate social responsibility initiatives. 

How the Great Resignation is Impacting your Workforce 

By now, we have all at least heard the term “Great Resignation” also coined the “Turnover Tsunami” by SHRM.  It should come as no surprise that U.S. Employees quit their jobs in record numbers in 2021. What you may not know are the following simply startling statistics.

November 2021 represented an all-time high of 3% or 4.5 million resignations, according to the US Bureau of Labor Statistics (read more in CNN’s report).  That is one heck of a ginormous number!

What is causing this?  Some of the reasons include employers attempting to bring their teams back into the office too soon.  Many of those who have resigned felt that they are just as productive working from home.  Further, if a current employer is not allowing them to work from home, a competitor likely will.

BenefitsPro, an online destination for benefits professionals, states: The 9-to-5 office workday is dead. Flexibility, remote work and hybrid offices are the new normal, in their 2022 Employee Benefits & Workplace Predictions. Additionally, “Among actively disengaged workers in 2021, 74% are either actively looking for new employment or watching for openings,” according to the 2021 Gallup State of the American Workplace,  

We promise it’s not all doom & gloom!

 

Why is Employee Engagement critical with your remote & hybrid workforce?

HR leaders who spent the past 2 years dedicated to the success of remote work—and the millions of people who rapidly shifted to working from home—must continue to acknowledge what worked in the past, yet also take time to continue to innovate. Easy for us to say, right?

Employees who have meaningful work connections and are engaged in the workplace produce better business outcomes. You likely know that! 

Yet, Workplace loneliness was on the rise well before the pandemic began.  Even more, the average person in the United States spends over 13 years of their life at work. As companies define what their work environments will look like now and in the future, it’s up to you and your leaders to create changes to fight employee isolation. Leadership teams must be intentional about fostering collaborative, empathetic, and teamwork-driven environments. It’s so important to include a proper corporate social responsibility plan.

For more resources on increasing Employee Engagement, check out our recent blog, How Do You Engage Employees Virtually.  Also, check out our collaboration with 15Five, 10 Questions You Should Ask Your Remote Employees To Keep Them Engaged.

 

How a Corporate Volunteering Program Will Benefit Your Employees

So what can you do to drive employee engagement and create a happier workplace whether virtual, hybrid or onsite?  One CSR example is starting with a Corporate Volunteering Program and the many benefits it will deliver to your employees. Volunteering has been a popular choice of philanthropy within the months of pandemic recovery.  Most volunteers can even do this remotely! 

The concept of Volunteer Time Off has been around for some time. Businesses have been incorporating volunteer time off to engage employees.  Employees are even hopeful to have these days when selecting a new job. To ensure you’re up to speed, you can review details about VTO (volunteer time off) and why you should offer it as a benefit to your employees. Further, why it should be paid VTO vs. Unpaid VTO.

Recently, VTO has been increasing in workplaces as employers are taking corporate social responsibility more seriously. Employees view programs like volunteer time off as a benefit. Employees want purpose in the workplace. These programs can help distinguish your company from others and help to recruit (and retain) the best employees. 

In fact, paid volunteer  time off is one of the top benefits a company can offer, Forbes Seven Wellness Benefits Employers Should Offer Along With Hybrid-Remote Working.

Employees want their companies to succeed for different reasons, but the desire is even stronger with purpose-driven companiesA purpose driven company can help to create advocates, improve your organization’s culture, and help to drive your company’s performance!

 

Start an Employee Giving Campaign  

The bigger the team, the greater the diversity in thoughts, interests, and relationships. Having differences is good, similarities are great, and almost everyone can agree that giving back is important! For that reason, starting an employee giving campaign is a second CSR example.

Today’s workers want to give their time and money to causes they care about. One recent study indicated that corporate social responsibility campaigns can boost employee morale and workplace culture while also improving brand perception. Giving campaigns are a great way to connect virtual and in-office workers, which makes it especially relevant as businesses define their remote work policies over the next one to two years. Empower your employees to make a difference—and support them in doing so. 

Pledge 1% is a global initiative in which companies can sign a corporate social responsibility pledge. The pledge includes options for giving back through both employee giving campaigns and employee volunteer initiatives. To learn more on how companies can be involved, check out this article for companies to pledge 1% of their time, product, profit, or equity to a non-profit(s) of their choice.

 

The CSR Importance of Purpose in the Workplace

“We all want to be part of something bigger than ourselves at some point, something that we’re proud to be associated with. A purpose driven company can provide that relationship.” https://www.smartbrief.com/original/2021/09/importance-purpose-company-success

For Momentum’s Social Impact Stats 2021, A compendium of cause marketing, CSR & purpose data, provides a wealth of great information includes the following stats:

  • 78% of respondents stated they’d be more likely to want to work for a purpose-driven company, while nearly the same would be more likely to trust (76%) and be loyal to (72%) that company 
  • Additionally, turnover is reduced by 57% among employees who engage in both giving and volunteering!

We hope this post has inspired you to start thinking about Why is Corporate Social Responsibility Important, and how to involve your team in your CSR initiatives. 

 

Take your Corporate Philanthropy to the next level with Selflessly

Your company has plenty of daily challenges! With Selflessly, your corporate philanthropy doesn’t have to be one of them. Our unique platform helps companies develop a purpose-driven culture with an easy tool that allows employees to track their giving, coordinate efforts, celebrate all the great work your team is doing, and generate actionable data to share the results.

If you’re ready to breathe new life into your corporate social responsibility, drop us a note—we’d love to chat!

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