Today’s consumers prioritize transparency and social responsibility when making purchasing decisions. They want to know that the company they are supporting takes a stand on the same issues that mean the most to them. In fact, according to a 2017 Cone Communications study on CSR, 63 percent of Americans want businesses to take the lead in driving social and environmental change in the absence of government regulation. Additionally, the study found that 78 percent of those surveyed want companies to address important social justice issues, and 87 percent will purchase a product strictly because a company advocates for an issue that they care about. On the flip-side, 76 percent of those surveyed will refuse to purchase a product or service from a company if they learn that the company supports an issue that contradicts with their beliefs.
The cause you choose is up to you, and we all know that it’s impossible to please everyone. However, the 2017 study discovered that social justice and environmental issues are among the most pertinent issues according to today’s consumers. Nonprofits, you understand the importance of a commitment to philanthropy. You live and breathe philanthropy. You dream about philanthropy. However, for all of you working in the for-profit sector reading this blog, it’s vital that you have your sights set on a CSR strategy and, not only that, but that you’re involving your employees in this strategy.
Incorporating a strong CSR program is important in today’s companies’ efforts to employ and retain Millennial workers. Why the focus on the Millennial worker? Because, soon, Millennials will make up 50 percent of the workforce. As a for-profit company, you have the ability to make a huge impact in your local community or, think big with us, the world.
How can you get started?
The big takeaways from this: it’s important to take a stance. As an organization, you have a responsibility to use your power for good. Does your company have a CSR strategy? If you’re a nonprofit, do you work with any for-profit organizations that team up with you as part of their CSR strategy? We want to hear about it!