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CORPORATE SOCIAL RESPONSIBILITY...MAGIC OR MYTH?
It was President John Kennedy who said, “A rising tide li!s a"
boats.” but is Corporate Social Responsibility a" it’s cracked up to
be? writes Darryl Judd, COO for Logistics Executive Group.
It has been bandied around as yet another corporate “feel good” that is “trending” at the moment. Corporate Social Responsibility (CSR) is fast becoming an industry in itself, interspersed in corporate frameworks globally, and infused universally in standard business practices. Human Resources units are lavishing large budgets on CSR initiatives in the quest for their holy grail, which is envisioning an engaged employee workforce but does this work? Is CSR good for business on a wider framework?
The Logistics Executive Employment Market Survey 2012 explored these questions and the perception of CSR in the market place. The survey found that whilst CSR was a focus for 74.2% of organizations, the respondents in leadership roles revealed that there were barriers to the wider adoption of CSR in the following areas: Cost, Unclear Benefits and lack of Senior Management Support. This suggests that there is still some confusion at executive level about the commercial benefits of CSR initiatives.
Defenders claim that CSR increases the virtue of the company and employee brand.
For example Human Resources professionals argue that CSR enhances employee engagement and the employee brand. It therefore increases employee retention and enhances talent acquisition strategies.