CSR is important for middle market employers, report finds

Dive Brief:

A special report created by the RSM US Middle Market Business Index in conjunction with Moody's Analytics and the U.S. Chamber of Commerce found that 90% of middle market companies are engaged in some form of corporate social responsibility (CSR). The report, Corporate Social Responsibility, Diversity & Inclusion, includes insight into communicating those values and efforts to job seekers. Three-quarters of employers engage in CSR initiatives to support the local community and 61% do so to reinforce organizational values. Another 58% enhances work environment or culture by involving their organizations in CSR and 56% use it to boost employee morale.
The study stated that companies that prioritize CSR initiatives may be better able to attract younger employees, who especially value CSR programs. To do this, however, organizations must tell "the CSR story," the study said. Almost two-thirds of companies use social media to communicate their CSR efforts. Sixty percent use the company's website to do so, while about 40% use public relations, annual reports and press releases to publicize their efforts.
"In a marketplace where recruiting and retaining skilled talent is challenging, particularly for middle market companies, CSR and [culture, diversity and inclusion] can be a differentiator," said Tracey Walker, RSM co-lead of culture, diversity and inclusion initiative. "As it matures effectively and is working, new employees are drawn to the company that's dedicated to relevant issues."

Dive Insight:

As willing as job seekers and workers are to avoid a company with a bad reputation, they're just as likely to gravitate toward a business with a strong, even benevolent, one. A recent MetLife poll revealed 70% of respondents think their companies should address societal problems — a seven-point increase from 2017. Another 85% said good corporate citizenship is important where they work, and about three quarters said they'd like their employers to make a difference in their community and in the world.

Like the survey pointed out, a good CSR program is one that's documented well. Posts on social media and the company website will communicate company culture to any onlookers. Employers can also consider how they can impact their local communities, rather than aiming their initiatives at world-wide issues. Experts have recommended companies partner with non-profits.