Being socially responsible is now a priority for most companies. With climate change and ethical investment now in the public eye companies need to keep up or risk losing out. Lots of companies have schemes in place to help the local community by volunteer schemes or hosting charitable events. However these have been a ‘bolt on’ and not necessarily a reflection of underlying ethical motives.
Job seekers as well as investors are now demanding a certain level of social responsibility from companies. No longer can they just bolt on certain schemes as people want evidence that the company cares for people and the environment. Being socially and ethically responsible needs to be woven into the very core of business. If this is not evident talented individuals and investors will look elsewhere for these indicators. Being socially and ethically responsible shows that a company is forward thinking and willing to embrace change and respond to the desires of its employees and customers.
Business in The Community (BiTC) has shown that companies are responding and changing their ways. It has reported that more than 80% of FTSE 100 companies and 60% of FTSE 250 companies have ethical policies in place. In fact some businesses employ people to educate their staff about how to be more carbon neutral at work by, for example, switching off your computer monitor. This is a win win situation for businesses as it shows a concern for climate change and saves money on their electricity bill!!
Corporate social responsibility (CSR) is increasingly important when trying to recruit staff. A recent survey reported that 96% of people would be more likely to accept a job from a CSR conscious business and 58% of people would actually leave a job that did not have a CSR policy. That’s certainly food for thought. BT have also done some surveys and found that for around 30% of 20-30 year olds, working for an ethical and socially responsible company is more important than salary. A director at Origin HR, who run the graduate programmes for several investment banks, has found that graduates will now investigate how companies rank in terms of being environmentally friendly and ethical.
So if you are looking for a new job or own a business yourself make sure there are ethical policies in place and get involved!
