Employees and Customers
Employee recruitment, retention, and morale are strong business reasons for corporations to integrate CSR into their organizations. Research studies that evaluate the impact that CSR has on employee recruitment and retention offer the following data.
Companies demonstrating strong CSR commitments find it easier to recruit employees, particularly in tight labor markets.
A 1997 study of 2,100 MBA students found that more than half said they would accept a lower salary to work for a socially responsible company.
CSR efforts strengthen a company’s position as an employer of choice.
Morale, motivation, innovation, productivity and creativity are all improved by providing the opportunity for people to work for organizations that not only support their career but also provide for much deeper meaning in their life.
Integrity at work relates to employee loyalty. 40% of employees who say their senior leaders have high personal integrity are also truly loyal to their organization. That number drops to only 6% when employees do not believe their senior leaders have integrity.
Also, numerous studies have shown that there is a direct correlation between CSR and the ability to attract and retain customers. Customer choice has traditionally been driven by price, quality, appearance, safety, convenience, and accessibility. However, increasingly other value-based criteria are influencing purchasing decisions.