3 Reasons You Should Invest In A Corporate Social Responsibility Strategy

Join In On Our CSR Goals To Support Mission Australia!

3 Reasons You Should Invest In A Corporate Social Responsibility Strategy

By Mary Anderson | December 19, 2017

Corporate social responsibility is not a new concept, but if you haven’t yet set up a program at your company, now may be the time. According to a research conducted by CECP and The Conference Board titled “Giving in Numbers,” 61 percent of companies who responded to the survey offered paid-release time volunteer programs. You may be wondering if your efforts will be worthwhile. It will certainly make a difference to the non-profits you choose to support – and you may be surprised how it will affect your employee engagement, therefore boosting employee morale and reducing employee attrition.

If you’re considering starting a corporate social responsibility program at your organization, the below business cases will give you the motivation to get a jump on it today. Here’s why you shouldn’t waste another minute:

A corporate social responsibility program will boost employee morale.

A report released by Project ROI states corporate social responsibility commitments can decrease employee attrition by up to 50 percent, increase productivity by 13 percent and increase employee engagement by up to 7.5 percent. By having something other than their core job responsibilities on which to focus at work, employees have a strengthened commitment and loyalty to the company. This is especially true for millennials: Cone Communications reports that 88 percent of millennials say their job is more fulfilling when they are provided opportunities to make a positive impact on social and environmental issues, and 75 percent say they would take a pay cut to work for a responsible company. Attract the best up-and-coming talent to your organization by getting out there and doing good. You’ll be noticed.

GQR’s Sydney office has been raising money for Mission Australia to show its commitment to being socially responsible. Employees selected this charity to support on an ongoing basis because it offers nationwide services to help people find safe and affordable housing, support disadvantaged children and families, empower troubled young people and assist people with mental illness and disability. By setting up a GoFundMe page, they’re able to host fundraising campaigns throughout the year to reach their goal.

Join In On Our CSR Goals To Support Mission Australia!

 

Strong, integrated communities build strong businesses.

By giving back to local charities in the communities where your organization operates, you’re contributing to their overall well-being. Companies are not successful if their surrounding community is struggling. Most operations lean on a strong local economy to attract innovative talent and be profitable. By selecting non-profits that provide support for the most important needs in your local area, you’re strengthening the community infrastructure and directly impacting its people. Focusing your attention locally also positions you a business leader in the community, contributing to public relations opportunities. You may just start a movement in your area and get other businesses to follow suit.

GQR’s New York City office knows that poverty, the rising skills gap and clothing needs are among the top issues that affect its surrounding area, so it set up a corporate social responsibility initiative to alleviate these problems. During the month of December, employees will hold a clothing drive. They’re encouraging family and friends to contribute unwanted clothing, which will all be donated to a local non-profit. Additionally, the team has selected a date to work on reading skills with students beginning in kindergarten. 41% of the children in the selected neighborhood grow up in poverty and thus enroll in kindergarten one to one and a half years late. GQR’s team will be able to recognize the results of their efforts immediately by serving (face-to-face) the less fortunate, and long-term look to help improve these students’ reading comprehension to ensure on par performance with their future peers.

Help employees get over “holiday brain” with a non-work activity.

Let’s face it: It’s easy to get stressed out during the holiday season – especially at work. You’re trying to finish up all those year-end projects and meet any outstanding deadlines. And your social calendar is probably full too, so you’re likely a bit distracted. Instead of (or in addition to) the typical office holiday party, consider a paid day off for employees to volunteer, and encourage them to do it with their team. It will give employees the break from work they’re looking for while building camaraderie with their team and helping a cause close to their heart.

GQR’s Los Angeles office will be volunteering for The Giving Spirit this holiday season. The organization provides aid and a human connection to homeless men, women, children and families in Greater Los Angeles. Employees will be spending December 15 volunteering for the non-profit’s Winter Outreach program in which homelessness survival kits will be assembled and distributed to those in need.

As you’ve read, there are several ways you can integrate a corporate social responsibility initiative into your company. Don’t feel pressure to put on a grand event at first. Start small and let employees’ passions drive the initiative. You’ll see this approach is best for boosting employee engagement and reducing employee attrition.

About the Author
Mary Anderson

Mary Anderson is Associate Vice President of Banking and Finance operating out of the Los Angeles office, specializing in all aspects of front-office quantitative finance and systematic trading, across all asset classes globally within investment banks, hedge funds and proprietary trading firms.

The GQR Systematic Trading team have been responsible for some of the most impactful market movements through talent acquisition.

Mary graduated from the University of Kansas with a Bachelor’s in Supply Chain Management and concentration in Information Systems. Before joining GQR, she spent time working in London and Sydney before relocating to Los Angeles.

Mary is adventurous, ambitious and hardworking, as she instills some of GQR’s core values. She translates these values into her passion for working out, specifically at Barry’s Bootcamp,  running marathons around the country, and snowboarding down double black diamonds in her free time.

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