In the past years, corporate social responsibility (CSR) has become a form of talent retention for some companies. Interestingly, the topic of CSR has emerged as a significant factor for professionals when considering job options.
As the war for talent intensifies, more and more companies look to fine tune their talent management strategies to stay ahead of competition, and CSR is seen as a key component in attracting and keeping quality employees.
Benefits for any organisation
A socially responsible employer will not only benefit from the highly positive branding and corporate reputation, they also create the opportunity to give back to the community. The goodwill it builds with its robust corporate governance and activities can also attract, keep and develop human capital. In doing this, staff morale is kept high and employees feel more engaged and gain the ability to make a difference.
Money and job responsibilities aside, professionals today are looking at more rewarding aspects of their career. Companies are sitting up and taking notice of this phenomenon. Increasingly, talent retention has become a pressing issue for several organisations keen on retaining and grooming their key talent.
As the war for talent intensifies, companies look to adjust their talent management strategies to stay ahead of competition, and CSR is seen as a key component in attracting and keeping quality employees.
Attracting employees to join you
Some companies place a certain amount of emphasis on CSR; some would even grant some hours off the work day for employees to complete CSR tasks or provide any additional funding required. It is a top-down initiative with everyone getting involved. Common CSR activities include visiting people in need and provide food and daily necessities for them, or providing free tuition to students from lower-income families.
On a larger scale, companies can sponsor charity events or organise their own too. Robert Walters has a Global Charity Day every year and offices around the world organise various activities to raise funds for a local charity.
Motivating and bonding your employees
With the emphasis and time given to perform CSR, employees are likely to feel more engaged and have something more to look forward to beyond their day-to-day activities. It has been proven that meaningful group activity is one of the factors that draw Gen-Y employees as well as young adults to certain organisations. When employees do CSR together, they are likely to bond, which bodes well for team cohesion. Professionals are likely to be more motivated in working for a company that they feel cares for the community, not just one that focuses on making profit.
