As a business leader, you understand that employee engagement is paramount to your success. Employees are more likely to invest in their work when engaged and motivated, leading to high-performing employees. Employee engagement improves work culture, reduces turnover , increases productivity , and builds better work and customer relationships , all improving profits . Much of this you will know already as various studies have been compiled in recent years demonstrating the importance of employee engagement. You may not know that social responsibility increasingly plays a vital role in employee engagement.
Let’s explore how your efforts toward social responsibility can positively impact employee engagement and morale.
What is Employee Engagement?
Employee engagement isn’t a buzzword or concept that businesses should take lightly. It has been proven multiple times that having engaged employees leads to greater business success. Engaged employees are emotionally committed to the organization and its goals, meaning they care about their work and the company. They don’t just work for the pay but also for the betterment of the company.
Not only does it reduce turnover rates while improving productivity and customer service, but it also serves as an effective way to retain talented individuals who can help drive your business forward over time. With this understanding in mind, organizations everywhere must prioritize employee engagement if they want their businesses to thrive in the long run.
Despite the obvious merits, employee engagement is incredibly low. In its State Of The Global Workplace report, Gallup concludes,” 85% of employees 6 are not actively engaged or (are) actively disengaged at work.” This means that only 15% of employees are actively engaged. Another survey 7 found that two–thirds of workers do not identify with or feel motivated to drive their employer’s business goals. 40% feel disconnected from their employers, and another 25% are disengaged, just showing up to collect their paycheck. This is something organizations need to address as we head into 2023.
The Link between Corporate Social Responsibility & Employee Engagement
Studies show that corporate social responsibility (CSR) CSR is an emerging and increasingly important driver of employee engagement.
Consider the following statistics:
- 70% of Americans believe it’s either “somewhat” or “very important” for companies to make the world a better place, compared to just 37% who think it’s most important for a company to make money for shareholders.
- 93% of employees believe companies must lead with purpose. A further 88% think it’s no longer acceptable for companies to make money at the expense of society at large.
- Nearly 70% of employees say they wouldn’t work for a company without a strong purpose, while a further 60% say they would be willing to take a pay cut to work at a purpose-driven company.
- 90% of employees who work at companies with a strong sense of purpose say they’re more inspired, motivated, and loyal. A further 92% of employees say they would be more likely to recommend their employer to those looking for a job if the company has a strong sense of purpose.
These numbers make it clear that organizations should dedicate efforts to developing CSR initiatives.
Employees who feel valued in their workplace are more likely to be engaged with their work and motivated to do better each day. When you take meaningful action toward social responsibility, it makes people feel like they are part of a larger purpose and mission.
Steps for Implementing a Corporate Social Responsibility Strategy
1) Articulate your organization’s values
The first step in developing a corporate social responsibility strategy is articulating your company’s values. This will help ensure that your actions align with what you stand for as an organization. For example, if one of your core values is sustainability, it would be necessary for your CSR initiatives to focus on protecting the environment. Once you have identified your values, you can start building out the rest of your CSR strategy.
2) Establish goals and objectives
Once you have identified your values, it’s time to set goals and objectives that reflect those values. Identifying specific goals related to the causes you care about will help ensure that you are taking meaningful action toward achieving them. For example, if one of your core
values is supporting human rights initiatives, then setting a goal of donating $X amount of money or volunteering X number of hours each year would be a great way to make progress towards this cause.
3) Develop programs
Once you have established goals and objectives, it’s time to develop programs to help you achieve them. Depending on the size and scope of your company, there are numerous ways that you can go about doing this. You could create an employee volunteer program where employees can devote some of their working hours towards volunteering for causes they care about, develop partnerships with local organizations whose mission aligns with yours or even launch campaigns centered around raising awareness about specific issues or causes. The possibilities are endless!
Final Thoughts
Social responsibility has many benefits for businesses beyond just improving customer relationships or public perception – it can also help increase employee engagement by showing people that they are working for an organization with values they support and can get behind.
By encouraging participation in social initiatives through volunteerism or fundraising programs, businesses create meaningful experiences for their staff while simultaneously developing their skill sets – leading to better overall performance from individuals and increasing employee loyalty towards the organization.
By implementing an effective corporate social responsibility strategy, businesses can demonstrate their commitment to making positive societal changes while also improving employee engagement. To do so successfully requires CEOs and COOs to articulate their company’s values, establish clear goals/objectives related to those values, and develop programs designed around reaching those goals/objectives – all steps outlined above. Taking these actions will enable businesses not only to gain public recognition but also enhance their reputation as good corporate citizens who genuinely care about making the world a better place for everyone.
Are you interested in making an impact on your community? To learn more about creating a CSR strategy that improves employee engagement, visit our website, or contact us today.
References
1. https://www.prnewswire.com/news-releases/eagle-hills-new-workplace-culture- survey-finds-63-of-employees-say-business-culture-directly-impacts-organizational- success-300814947.html
2. https://www.nytimes.com/2014/06/01/opinion/sunday/why-you-hate-work.html
3. https://www.gallup.com/workplace/236366/right-culture-not-employee- satisfaction.aspx
4. https://www.forbes.com/sites/christinecomaford/2017/07/08/the-surprising-link- between-customer-experience-and-employee-engagement/ sh=846104eb512a
5.https://www.gallup.com/workplace/392219/beware-junk-employee-engagement-metrics-esg-reporting.aspx
6. https://www.gallup.com/workplace/231668/dismal-employee-engagement-sign-global-mismanagement.aspx
7.https://www.charities.org/sites/default/files/corporate_responsibility_white_paper%20copy.pdf
8. https://www.aflac.com/docs/about-aflac/csr-survey-assets/2019-aflac-csr-infographic-and-survey.pdf
9. https://www.porternovelli.com/wp-content/uploads/2021/01/02_Porter-Novelli-Tracker-Wave-X-Employee-Perspectives-on-Responsible-Leadership-During-Crisis.pdf
