CSR? It pays off!

The implementation of the concept of corporate social responsibility in enterprises may not yet be as popular in Poland as it is abroad, but all companies that decide to implement good CSR practices are aware of the measurable benefits that such activities bring.

The primary benefit, irrespective of the stakeholder group towards which CSR activities are implemented, is the building of a company's good reputation, whether in the eyes of customers, local communities, employees or the media. In a survey conducted by PwC and SMG/KRC for PARP in March 2012[1], companies were asked to indicate the three most important benefits of good CSR practices. As many as 74 per cent indicated a positive image, which is quite a telling illustration of why corporate social responsibility is recognised as more and more necessary in many companies every year. Through socially responsible behaviour, the public's trust in business organisations is built, which certainly improves the image.

Staying with the image aspect, important stakeholders, a fundamental group of any successful company, are customers. It is highly likely that existing customers view a socially responsible company favourably and are more loyal to it. Good CSR practices, however, are first and foremost an important signal to potential customers that a company is ethical, socially committed and worth initiating cooperation with. It also increases the chance of attracting new investors. Many of them treat social credibility on a par with financial credibility.


Text author: Bartek

[1] PwC and SMG/KRC for PARP, Assessment of the status of implementation of corporate social responsibility standards with the development of a set of social responsibility indicators in micro, small, medium and large enterprises, [n.m.], 2012.