Corporate social responsibility (CSR) is an important aspect of any business nowadays, as demand from consumers for companies to give back continues to increase. Today, CSR is a way to bring about real change and leave a positive impact on society and the environment. For this to happen, optimal use of CSR funds and resources becomes necessary.
Take a look at three ways companies can use their CSR funds effectively:
3 Best Practices for CSR Initiatives
Partnering with social enterprise will be a big step for companies in visualizing their CSR initiatives.
Social enterprises are businesses that aim to create positive social or environmental impact while also generating revenue. They are purposeful, driven, and draw public support.
Companies can gain benefits from working with social enterprises, such as:
- Looking credible for the investors
- Increasing customer trusts
- Connecting with many communities for future CSR collaboration
Most companies invest in organizing or sponsoring charitable events, such as charity runs, fundraising campaigns, or training programs as their CSR activations.
These events can help generate buzz and can have a big, positive impact on how the public sees your business overall. This reputation boost can last long after your CSR event has come to a close.
Hosting charitable events also brings new opportunities and strengthens relationships with existing customers or clients.
Surveys show that for most companies today, meeting sustainability targets has become a growing priority in procurement.
Investing in green procurement creates positive performance along all three ESG points (environment, social, governance) as it improves brand image, which in turn helps to retain existing customers and attract new ones as well as improves business partnerships with suppliers, customers, and other shareholders and strengthens employee commitment.
Activate your CSR Goals by Partnering with Liberty Society!
Liberty Society as a social enterprise providing eco-friendly corporate merchandise/souvenirs, hampers, and CSR campaign activation that empower marginalized women and refugees out of poverty. We work with companies to elevate their merchandising, gifting, and social initiatives to meet the SDGs so they can do CSR sustainably.
Chat with us to discuss collaboration ideas, here!