Corporate social responsibility (CSR) is when a company positively impacts its community and takes care of environmental and social issues. The good thing about CSR is that it improves a brand’s image, increases employee engagement, and boosts loyalty.
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Companies with engaged employees have lower absenteeism rates and are 21% more profitable. CSR, if done well, can help boost your employees’ morale and productivity. What other business benefits does CSR have?
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Healthier Company-Consumer Relationships
A company that values its community builds positive relationships with the people. Locals are proud of CSR efforts, even if they don’t impact them directly. CSR can lead to healthier company-consumer relationships.
Internally, CSR boosts employee retention. When a company does good for society, it creates a positive work environment for its employees. It also shows them it values the community they live in. When appreciated, around 69% of employees work extra hard.