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Benefits of Corporate Social Responsibility in business strategy

Published: Thursday 24th January 2019

Businesses are seeing the benefits of introducing Corporate Social Responsibility (CSR) initiatives into their business strategy. Many are also discovering the advantages to be gained by supporting the local communities where they are based. After all, every savvy entrepreneur knows that demonstrating good business ethics to local stakeholders means they will support you in return. Here are a few reasons why even small firms should make a New Year’s resolution to support the local community.

talented individuals around each other brainstorming ideas for Corporate Social Responsibility

Secure the best talent locally

A buoyant jobs market means that competition for available talent has never been tougher. As a result, more candidates than ever are looking for opportunities closer to home instead of travelling to work. Focus on building a good reputation locally, as well as solid brand presence. This can help recruiters secure the best local talent before it goes elsewhere.

Local publicity costs less

Businesses seen to be doing good things for the community inevitably get traction from local media. Another excellent way to raise brand awareness in order to support a recruitment drive or to promote a new product/service launch. This form of local marketing strategy can cost less and be much more effective than non-targeted generic campaigning.

Discover new business partners

If you work closely with the local community that means you’re more likely to get noticed by local businesses. Allowing you to grow your professional connections both in the area, as well as on wider playing field. In fact, you might discover that many of these local firms can help you with your own business objectives, or supply vital services and products you need. Sourcing these locally can mean reduced costs and more convenient access to the services you need to operate. You might even be lucky enough to find new investors for your business locally. Start by visiting your local business centre.

Businessman shaking hands

Enhanced sales

By showing that you support the local community, you’re demonstrating that your company is investing in a CSR strategy. It’s well known that people are more likely to buy from businesses with a clear CSR business strategy – and these sales won’t just come locally, as news spreads about your ethical business model.

Create a vibrant community

Local community working together

Finally, it’s important to realise that by simply getting involved and contributing to the local community, you are making it a better place to live and work, which is good both for the people that live there and for your business. A strong community will always be able to attract new companies, talent and other resources to the area. Even small businesses can play a big role in economic regeneration.

There are many ways businesses can get involved in the local community to build brand awareness and a positive perception of the company. And there can be mutual benefits. For example, some businesses will run training and development days in conjunction with other local businesses, public amenities or charity efforts. This not only builds teamwork within the company but enables the business to support other local initiatives.

As a Zoek hirer, did you know you can tailor your job postings to recruit locally and demonstrate that you are committed to your local community? Find out how you can use Zoek to customise your next recruitment campaign today.

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