Lots of people may ask, “Why should a company implement a corporate social responsibility program?” But what they really mean is, “Why should my company buy into CSR?” And it’s a valid question, especially for a small enterprise. Why should a small company devote the time and resources it takes to become more socially responsible?
Small companies have MORE incentive to be responsible
Small and medium-sized businesses, arguably, have more reasons to act responsibly than others. Good companies have better access to capital. Especially in today’s volatile financial climate, being able to get cheap capital is vital to small enterprises if they hope to survive.
Responsible companies are more innovative
Responsible companies are more adaptive and innovative. Social responsibility requires a firm-wide focus that helps innovators recognize opportunities throughout the organization. Since small companies are better poised to make big changes quickly, they are better positioned to take advantage of these opportunities.
Recruit and engage your workforce
The best and brightest workers flock to responsible companies. Especially when you look at younger employees, corporate responsibility is just the kind of differentiator small businesses need to stand out to top performers. And current employees who feel like their jobs are doing good in the world around them are significantly more engaged at work. Small companies don’t have room for disengaged employees, so a responsible focus will help them accomplish more with their current workforce.
CSR works for large and small companies alike
Corporate responsibility has already caught on with big businesses. But it’s time for smaller one to receive CSR’s benefits, too. If your small company already practices CSR, please tell us about it. And if it doesn’t, now is the best time to start!
Imaged used under Creative Commons from lumaxart.