America is in the midst of a labor shortage. For the first time, there are more jobs available than there are eligible workers to fill them.¹
To close the gap, employers must do more to acquire and retain workers. Traditionally, a desirable salary and an attractive benefits package were the main drivers of employee satisfaction and talent acquisition, but today’s workforce wants more. People want to understand the mission they are working toward and how their contributions will make a difference.
Corporate social responsibility (CSR) programs are a great way to achieve this, directly impacting employee satisfaction. One study even found that 51 percent of employees won’t work for a company that doesn’t have strong social and environmental commitments.²
If half of the potential workers won’t even consider your job without social and environmental causes, what hope do you have to grow your talent pool and increasing employee satisfaction without a CSR program? At the very least, you’ll be in for an uphill battle when it comes to maintaining high rates of employee acquisition, retention, and satisfaction.
This post offers three key ways corporate social responsibility programs work to improve employee satisfaction.
1. CSR Improves Company Culture and Provides Employees with a Sense of Purpose
Everything starts with your company culture. Tying the culture to your business goals gives employees a common cause to work toward, which leads to a greater sense of purpose.
Employees that feel they are making a difference and are working toward something that matters are more likely to support the organization’s objectives and feel as if they have ownership in the company’s success. This goes a long way in instilling a sense of job satisfaction among employees.
2. CSR Helps Employees Identify with the Organization
Top-tier talent can choose where they work, particularly in the current job market, and they tend to join organizations that they identify with. In these cases, the employee’s view of themselves overlaps with their perception of the company. For example, if someone describes themselves as a leader, they’re more likely to join a company they perceive as an industry leader.
Likewise, if an employee prides themselves on giving back to the community, they are more likely to identify with a company that makes it a point to give back through a strong CSR program. By helping your employees identify with your business through workplace giving, you help them feel a sense of belonging that promotes employee satisfaction and retention.
3. CSR Improves Employee Engagement
The best CSR programs empower employees to be actively involved. Staff can choose their own charities, set volunteer hours, and even run crowdfunding campaigns through CSR software.
As employees become more involved in your CSR program, they’ll also have higher levels of engagement and a dedication to helping your company achieve its goals. Both that engagement and the CSR initiatives will feed directly into satisfaction.
Use CSR to Make a Positive Impact on the Community and Your Employees
Corporate Social Responsibility is a critical part of any organization’s long-term strategy – especially in the war for talent acquisition and employee retention. An effective CSR program enriches the community while also improving the company’s culture, boosting employee engagement and helping to retain top talent.
Editors Note 4/20/22:
We recently took a look at these forecasts and did some research to view what has changed and what has stayed the same; here is an updated perspective on the Evolution of Corporate Giving Trends. If you’re interested in speaking with our sales team, Schedule a Demo to learn more!
