Corporate Social Responsibility Helps Companies Attract Top Talent
Some companies have fitness centers, spa services, free food and even onsite child care facilities. Others have fantastic benefits, flexible hours, or significant vacation time. Yet, one characteristic can score above all on a millennial’s list for the best company to work for—commitment to Corporate Social Responsibility (CSR).
75 percent of millennials say they would take a pay cut to work for a socially responsible company, according to the 2016 Cone Communications Millennial Employee Engagement Study. The study also reveals that 64 percent of them won’t take a job if the company doesn’t engage in CSR practices. Lisa Manley, EVP of CSR Strategy at Cone, says “This generation wants to get their hands dirty—providing ideas, suggesting improvements, and participating in efforts on the ground.”
At its heart, CSR is about a company taking responsibility for the impacts of its decisions and activities on all aspects of society. More than just donating money or recycling, it’s about contributing to the health and welfare of society. It’s also about operating transparently and ethically.
Our Founders Patty and John Noel are strong proponents of CSR, which John refers to as his “True North” approach. “True North is an approach to life where we focus on what we should do, not simply what we can do,” John explains. “I believe very strongly that companies have a dual purpose – commercial and social. Simply put, True North led companies to accept the responsibility to do what they can as companies and individuals to make the world a better place.”
A recent Center for Corporate Citizenship study found that 66 percent of executives thought their social responsibility strategies resulted in improving corporate reputation, and saw this as a business benefit. “Employees like working for a company that stands for something beyond bottom line results,” John said. “That can be reflected in employee loyalty and retention. We’ve also found that clients enjoy doing business with a company that is principle-centered. And that leads to longer-term relationships built on mutual trust.”