11 Facts About Mid-Size Companies and CSR -
The greatest potential for doing good is with the mid-market. “If the Middle Market were a country, its GDP would rank it as the fourth largest economy in the world,” states Scott Vaughan in a previous B4B blog post. So we surveyed 173 business professionals from mid-size companies (100-5000 employees) about CSR to gauge the status and plans for community involvement.
Here are the facts:
- Only 12% of mid-size companies recognize the potential CSR has for impacting the bottom line.
- Only 33% of mid-size companies have established CSR programs.
- 66% of mid-size companies focus their CSR initiatives within their main offices’ state.
- Education is the #1 cause mid-size companies contribute to.
- 40% of mid-size companies provide employees time off to volunteer.
- 30% of mid-size companies perform pro-bono work.
- 50% of mid-size companies report executive leadership leads CSR efforts.
- 33% of mid-size companies state their CSR efforts are led by their HR or marketing departments.
- Less than 10% of mid-size companies said they use CSR for employee engagement.
- More than 40% said they measure success of CSR by employee participation or satisfaction.
- Only 20% of mid-size companies measure their CSR programs by financial impact.
Is CSR is just a nice thing to do?
- 88% of new job seekers choose employers based on strong corporate social responsibility values.
- 86% would consider leaving if the company’s corporate social responsibility values no longer met their expectations.
- Companies with highest levels of employee engagement see increases in their bottom line, improving an average of 19.2% in operating income, compared with a 32.7% average decline in companies with lower levels of engagement.
- Highly engaged companies can reduce staff turnover by 87% and improve performance by 20%.
Looks like a corporate social responsibility program isn’t just a nice thing to have. It’s a must-have.
Why Business Must Become A Third Pillar of Social Change -
Why CSR? The Benefits Of Corporate Social Responsibility Will Move You To Act - http://www.forbes.com/sites/devinthorpe/2013/05/18/why-csr-the-benefits-of-corporate-social-responsibility-will-move-you-to-act/?goback=.gde_82951_member_243220082
Corporate Social Responsibility Influence on Employees - http://www.csrinternational.org/2012/06/29/corporate-social-responsibility-influence-on-employees/ (Great study from the UK)
Employee volunteerism is, in fact, on the rise. According to Volunteer Match, back in 1992, only 31% of surveyed companies reported the use of volunteer programs to support core business functions.
By 1999, that number had grown to 81%. Today 84% of companies believe that volunteers can help achieve long-term social goals. - http://www.triplepundit.com/2012/06/roi-employee-volunteering/
CSR and employee volunteering: the new frontier- http://www.charitycomms.org.uk/articles/csr-and-employee-volunteering-the-new-frontier
In 2010, 89% of companies had a formal domestic employee volunteer program, while 52% had a formal international volunteer program. – from Employee Retention and Corporate Volunteering: 5 Facts For Human Resources Professionals - http://www.causecast.com/blog/bid/160418/Employee-Retention-and-Corporate-Volunteering-5-Facts-You-Need-to-Know
www.triplepundit.com - “one of the world’s most well-read websites on ethical, sustainable & profitable business”
www.corporateregister.com - CorporateRegister.com is the world's largest online directory of corporate responsibility (CR) reports
The Harvard Kennedy School of Corporate Social Responsibility Initiative (CSRI) - http://www.hks.harvard.edu/m-rcbg/CSRI/index.html
Boston College Center for Corporate Citizenship - http://www.bcccc.net
CSRwire is a digital media platform for the latest news, views and reports in corporate social responsibility (CSR) and sustainability. - http://www.csrwire.com