Everything You Need To Know About Corporate Social Responsibility !

Corporate Social Responsibility (CSR), can be defined as the constant dedication by enterprises towards the economic and social development of communities in which they operate. CSR has become increasingly important to a company’s competitiveness and has become an integral part of corporate strategy. It is consistent which includes organisations to take up activities without having negative effect on their business. Organisations are setting up different departments and groups that develop strategies, objectives and policies for CSR program and allocate separate financial plans to support them. It is considered as responsible bodies for their role towards the society, It creates and improves the relationships with customers, organisations and suppliers. It differentiate an organisation from its competitors.

CURRENT TRENDS

Organisations should focus on these developing World wide trends in Corporate Social Responsibility:

Business Transparency is the open sharing of Information from a business to its consumers. It creates brand trust, good communication which helps in increased employee engagement and helps to earn greater profitability.

Green Technology refers to the use of technology and science to create products that are more environmentally friendly. It helps in reduction of air pollution which can slow down global warming and organisations can have tax advantages i.e. they are eligible for government tax credit as a contribution towards the expense of introducing environmentally-friendly technologies. For example: If you’re housekeeper, you might get subsidies for installation of solar panels.

Stakeholders of the companies are demanding the reduction of carbon emissions and wastes through which there will be positive impact on environment. “zero waste” is getting ordinary in the work environment. Hope to see more organisations moving rapidly to neutral carbon emissions and taking more prominent steps toward zero waste in the coming year.

EXAMPLES OF ORGANISATIONS PRACTICING CSR

• TATA GROUP: It has engaged in women empowerment activities, developing of rural communities. It is involved in health care projects and also provides scholarships.
• ULTRATECH CEMENT: It is involved in social work across 407 villages. The company has organised health care programs, immunisation and sanitisation programs and also focus on education, infrastructure and farming programs.
• MAHINDRA: Mahindra’s CSR programs invest in scholarships, grants, health care for remote areas, and disaster relief programs.
• ITC: Company has been able to create supportable job opportunities for six million people through its CSR activities. It is involved connecting rural farmers through internet which covers 40,000 villages and over four million farmers.
• INFOSYS: It is involved in programs for underprivileged children in which company teaches them various skills and donates carom, chess board etc to the ones who need it.
• MARUTI: It has a concept of using 3 R’s which is reuse, reduce and recycle in all manufacturing units and it also invests in environmental friendly projects.

CONCLUSION

CSR has become increasingly important to a company’s competitiveness and has become an integral part of corporate strategy. It is consistent which includes organisations to take up activities without having negative effect on their business.

Human resource plays a crucial role to help a company receive its CSR objectives:

BETTER COMMUNICATION INTERNALLY: Most of the workers feel they are not adequately informed about the CSR activities executed in their organisation. Better communication means allowing them to contribute more.

CSR AT THE CENTER OF HUMAN RESOURCE: HR management can play a role of training or sensitising employees on CSR topics.

IMPROVING THE QUALITY OF EMPLOYEES: HR can improve working conditions by offering employees more flexibility in their schedules to better manage their work/life balance and productivity.