Corporate social responsibility has become increasingly important over the last 10 years. This is due to more awareness about certain social issues, as well as access to social media and more of a willingness to talk about some of the major issues we face as a society. A lot of businesses are more willing than ever before to do their bit and give back.
The most common type of corporate social responsibility is companies donating money to legitimate charities. This can be done in a number of ways including a lump sum, a pledge to donate a percentage of earning over a specific time period. Some companies work in partnership with these charitable organisations and accept donation requests from all over.
This is similar to general donations, only the company will give goods and services rather than money. I suppose this way at least they can fully see where their money is going, and ensure it doesn’t partly go into someone’s pocket as a bonus.
Grants, Scholarships and Sponsorships
This is when companies offer education to young people by supporting them through their studies.
This pretty much covers any type of disaster, from natural disasters to humanitarian ones, everything is covered. Many companies will donate money or resources as aid to people who are struggling.
Employee Volunteer Programs
This one can also help with motivating staff, it’s been proven that offering employees incentives and creating opportunities by volunteering is a good method to increase staff morale and engagement. A lot of companies have started offering extra PTO days for employees who are wanting to volunteer – this allows them to volunteer without having to take time off. Companies who have implemented this policy have reported that employees are less stressed, more engaged and are developing greater interpersonal skills. Studies have also shown that volunteering can improve your mental, emotional and even physical health!
Matching gift programs allow people to make monetary donations, of which the company will then match. Some companies will make rules to go along with this, such as a minimum and maximum donation limit which they will match to.
Volunteer Grant Programs
This is a scheme that offers donations for volunteering. This is normally implemented when an employee reaches a certain amount of hours with their volunteering. For example, if a company was doing this program and they pledged to give money to a charity of their choice for anyone who volunteered over 50 hours. This motivates people to go out and volunteer and also benefits the charities.
There are many other types of ways that businesses undertaking social corporate responsibility. As time goes by these ideas are more creative and thoughtful and it’s a great thing to see.