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Corporate Social Responsibility matters. Why? Embracing CSR can increase customer retention and loyalty, increase sales, increase employee engagement, improve brand imaging, attract investment opportunities and can help attract top talent. There is no one-size-fits-all model of CSR.
Harvard Business Review identified four main motivations for companies to create a CSR program: moral obligation, sustainability, license to operate and reputation. McKinsey’s research has shown that companies both big and small are well-served by a thoughtful CSR strategy.
To build a CSR strategy (1) figure out what you do best (identify your company’s strengths) (2) listen to your customers or clients (know what they value and what matters to them) (3) engage your team (the people executing it on a day-to-day basis need to believe in it too) and (4) measure and publish results (set up metrics that will let you know how well you’re doing and communicate the results).
At Bexley Beaumont we are committed to acting responsibly and we understand the importance of integrating our CSR plan into our culture and business decisions. Along our journey we have learnt that it doesn’t matter the size of your team, the amount of money you have to work with or the sector you’re in, what is important is to find the corporate social responsibility plan that works for you, your business and your team then execute it and start to enjoy the benefits.
In our first couple of years before we developed a CSR framework Bexley Beaumont had “Our Good Intentions” which will continue to grow as we grow alongside our CSR. This includes fundraising initiatives, sponsorship opportunities and working with charities. We have taken part in a 1,000 mile team fitness challenge, various other challenges where everyone can chose their own charities, sleepouts and volunteering days. We intend to further build upon these relationships as we grow to make a positive impact.
These types of events have had a positive impact internally. It’s a great opportunity for everyone to interact outside of the workplace and to nurture our culture of teamwork and collaboration.
CSR matters to all businesses whatever their size, geographical location or sector. The process of designing CSR policies (as part of an ESG plan) can help formulate, focus, and bring into the equation sustainable values that feed back to corporate performance. The notions of measured growth, long-term value creation, corporate responsibility, monitoring, and reporting are all brought into view, and this can only be a good thing.
We have operated on these principles at Bexley Beaumont since day one. What began as statements on our mission and values, our culture, our good intentions are evolving into fully fledged policies that guide how we operate and grow on a day-to-day basis. Long-term value creation and measured growth in all aspects if our business is at the forefront of our minds every day.
A couple of statistics from the Harvard Business School further demonstrate why CSR matters:
“Nearly 70 percent of employees say they wouldn’t work for a company without a strong purpose.”
“Seventy-seven percent of consumers are motivated to purchase from companies committed to making the world a better place, while 73 percent of investors state that efforts to improve the environment and society contribute to their investment decisions.”
CSR matters to all businesses. We are excited to launch our CSR initiative in 2022 which will provide an opportunity for the Team to come together aligning their personal interests and values with the Bexley Beaumont values and vision. More to follow!
