Building stronger communities: The critical role of CSR for B2B companies
If you are a B2B organisation bidding for tier one work, it's critical you are giving back to the community in which you operate.
Following on from last week's blog on the power of grassroots sport on community, I mentioned most tier-one organisations now require suppliers to report on their contributions to local communities.
Why Corporate Social Responsibility (CSR) is Essential
All organisations should now have a clear Corporate Social Responsibility (CSR) strategy. While most companies have environmental measures and fair labour practices (e.g., codes of conduct and modern slavery policies) in place as mandated, there are still significant inconsistencies when it comes to social responsibility—and this is where I can help.
In April I shared a blog on about the benefits of an integrated CSR strategy and how to involve employees.
It is increasingly mandated for organisations, when tendering for tier-one contracts, to demonstrate their social and community contributions. Too often, I’ve seen sales teams scrambling at the last minute because there wasn’t a clear strategy or comprehensive understanding of the local organisations or social causes the company supports.
Here's why governments require tier-one companies to contribute to the communities they operate in:
Promoting Corporate Social Responsibility: The government encourages large companies to engage with and support the local communities impacted by their operations. This fosters a culture of CSR, ensuring that the benefits of business activities are shared more broadly within the community.
Maintaining a Social License to Operate: Supporting local communities helps sustain a company's social license to operate. It demonstrates that the company is a responsible corporate citizen, committed to the well-being of the people affected by its operations.
Building Stronger Communities: Corporate engagement and investment help build the capacity and resilience of local communities. Strengthening community ties has positive ripple effects for broader society, including benefits for the company itself.
If your organisation genuinely cares about the community it operates in and can clearly demonstrate its contributions, this will benefit multiple stakeholders. However, reporting can be time-consuming, especially when it's a last-minute task.
That’s why it's crucial to have a clear CSR strategy that aligns with your organisation’s goals. Engage your stakeholders, define your objectives, and establish processes that ensure your approach to community support is genuine and measurable. Stakeholders can easily identify when CSR is treated as a mere box-ticking exercise.
Next steps for building an effective CSR strategy and implementation:
Engage with stakeholders to define what CSR means for your company and align it with your core values and competencies.
Conduct an assessment to evaluate your current social impact and identify the organisations you are currently supporting.
Ensure your leadership team is fully supportive of your CSR strategy.
Set up processes, including policies, assessments and relevant tools (e.g., software for tracking progress).
Need help with your CSR strategy or implementation - Book a call.