The benefits of corporate social responsibility

Corporate Social Responsibility (CSR) gets a lot of air time in the press. News headlines on tree planting efforts, CO2 reduction and charitable achievements help boost a company’s image. In fact, many of the programmes increase company profits.

 

Better Business Journey, a UK-based business consortium, finds that: “88% of consumers said they were more likely to buy from a company that supports and engages in activities to improve society.”

 

Charities have a major role in how businesses roll out CSR programmes. Through collaborations, charities can also increase reach, volunteer retention, and fundraising. In this article, we go over the main benefits of CSR partnerships with other organisations.

 

 

What is a CSR programme?

 

CSR comes in many shapes and sizes. Programmes range from one-off events to long-standing relationships. The general idea is to reduce the negative impact of doing business. Many companies turn to trusted charity partners for help.

 

The Harvard Business School’s definition of CSR includes four pillars of responsibility:

• Environmental
• Ethical
• Philanthropic
• Economic

As part of CSR, charities help businesses soften their environmental impact. They also encourage companies to pursue ethical practices. The aim is to make the world a better place.

 

 

CSR partnerships help charities achieve more

 

CSR partnerships tap into the other organisation’s networks and resources. Often, these partnerships result in increased funding, additional volunteers, and added know-how.

 

The engagement with business is an opportunity to deliver on charity goals. For example, The Woodland Trust’s programme helps them pursue sustainability on a larger scale.

 

In 2018, the charity partnered with Selfridges as part of the retailer’s sustainability efforts. Selfridges’ Project Earth showcases products made from recycled and eco-friendly materials. The digital shop has taken off and has a dedicated online presence. 

 

Benefiting another Woodland Trust venture, Selfridges has also promised to plant 15,000 trees in the Northern Forest.

 

Daniella Vega, the Director of Sustainability at Selfridges says that: “Through our partnership, we will highlight and support the vital role trees play in helping to fight the climate crisis, working to support reforestation in and around the cities in which our stores are located.”

 

For the Woodland Trust, the partnership aligns with two of charity’s goals: tackling forest preservation and enhancing tree planting for the Northern Forest.

 

 

Building community connections

 

Being part of CSR initiatives help charities build community connections. The Greater London Authority (GLA), working with SocialBox.Biz, Age UK, and the Single Homeless Project came together to bring better quality digital to vulnerable people.

 

The premise of the project is simple: help those in need stay connected during the lockdown. To start, the GLA gave away its old devices to the social enterprise SocialBox.Biz.

 

SocialBox.Biz wiped the devices of information and refitted them for individual use. Next the charity partners, Age UK and the Single Homeless Project, distributed the goods to those in the community.

 

For Age UK and the Single Homeless Project, the project helped make connections across local communities. The collaboration also delivered technology to vulnerable people.

 

 

Partnerships increase fundraising power

 

Cultivating relationships with companies increases fundraising potential. Charities can tap into a large number of employed people who are already invested in doing things for their employer. Match funding and payroll donations are ways employers encourage giving.

 

Double the Donation puts match funding figures in perspective. According to the firm’s research, match funding raises around $2.3 billion (£1.69 billion approx.) per year.

 

For charities, the pool of money is significant. Once the programme is established programme, funds can be brought in year-on-year.

 

The Giving Machine agrees and confirms the benefits of CSR programmes. When it comes to fundraising, The Giving Machine says that companies help by publicising its support and by offering free marketing.

 

Many companies also have match funding available for individuals. For the charities involved, they hugely benefit because these collaborations offer a stable partner.

 

 

Charities can learn more from CSR partnerships

 

The benefits of CSR go beyond achieving more in terms of reach and fundraising. It’s an opportunity to learn from the private sector and a reminder to do better.

 

John Williams, in an article for Civil Society explains that charities have a duty to look beyond their beneficiaries: “It was the rise of charities and NGOs challenging business behaviour that has done much to change business attitudes. But charities are now subject to the same challenge and scrutiny.”

 

From this perspective, charity duties extend beyond helping people. It’s about making sure that the trust in charities goes beyond helping people.

 

CSR partnerships encourage leaders to earn trust rather than taking it for granted. By partnering with companies, charities learn to do better by improving management and transparency.