How CSR Initiatives can Boost Employee Wellness
Did you know that 58% of the world’s population spend one-third of their time at work during adult life?
Shocking, isn’t it?
Whether small or big organizations, it’s essential to lay the foundation for employee wellness because it directly relates to employee performance. When employees feel engaged, it is possible to create a productive workforce.
While it might seem daunting to make employees feel engaged, with digitization and penetration of technology, it becomes easier to create wellness programs and CSR initiatives that boost productivity and affect the company’s bottom line.
Before moving ahead, it’s essential to understand the meaning of the word ‘CSR.’
What are CSR initiatives?
Corporate social responsibility or CSR initiative is a plan a business builds, executes, and optimizes for completing social responsibilities. It primarily describes a company’s commitment to conduct business ethically.
By practicing CSR activities, companies are conscious of their impact on every aspect of society, including economic, social, and environmental. To engage in CSR activities, a company operates in a way that enhances the society and environment instead of contributing negatively to them.
Sounds great, isn’t it?
Let’s now explore how CSR initiatives can boost employee engagement and wellness.
Ready? Let’s dive in!
How CSR initiatives can boost employee wellness
Here are a few ways to boost employee wellness:
Enhances employee identification with the organization
When employees feel they work for a socially responsible organization, they experience a greater sense of identity with their business.
Often, CSR initiatives are more important than financial success because it helps determine how much employees value their company and how engaged they feel with the work culture.
Creating a CSR strategy that focuses on environmental, philanthropic, economic, and ethical responsibilities is essential for enhancing employee identification with an organization.
This increased engagement and identification means that employees are motivated and love their job, and feel a deeper connection with their work. To create a strategy that delivers intended results, use the CSR strategy by Alaya.com.
Ensures employee wellbeing
When employees are healthy and happy at work, they’re more productive and display less absenteeism.
Did you know that 1.1% of working days per annum get lost due to sick leaves, and sickness presence accounted for a total work time loss of 6.55%?
With this statistic in mind, it becomes even more essential to pay attention to employee wellbeing and make it an essential aspect of your human resource or HR strategy.
Creating a workplace environment that people love will make people protect their well-being and strengthen the company’s culture.
When employees like their work, it shows in their attitude, and they can influence others to adopt this work culture. It helps in promoting business success.
So, ensure your HR team leaves no stone unturned and takes initiatives for employee wellbeing to ensure the company reaches another level.
Do you want your employees to think outside of the box? Do you want to increase innovation in your workplace?
If so, CSR initiatives motivate employees to try new things and re-energize themselves in their job.
When employees feel socially involved in their workplace, they feel empowered to contribute to the bigger picture.
Such employees are more likely to feel empowered and contribute. They’re more likely to develop innovative ideas, processes, and systems that significantly affect the bottom line.
So, demonstrating your company’s value and passion through CSR initiatives encourages employees to develop new and productive ways to do their job.
Improves retention and organizational commitment
Employees who feel optimistic about an organization’s CSR activities enhance employees’ intention to stay with current employers and overall commitment to the organization.
Organization prefers committed employees because such employees bring a range of benefits to the table.
Committed employees are ready to sacrifice for the organization; they like completing their job duties and seeing their future tied with the company’s success.
Attracts and retains employees
The rising trend of giving back to society makes socially responsible companies a favorite among job seekers. When organizations express their passion, ideas, and values and show that they’re adept at defending their organizational values will attract top talent.
According to research, 74% of people say that work is more fulfilling when employers provide them with the opportunity to work on social problems and causes. Such employees are likely to accept a pay cut to work in a socially responsible organization. This helps in retaining top talent.
Also, as per another survey, 90% of employees who work with companies with a strong social purpose are more motivated and loyal than employees of companies that don’t focus on CSR initiatives.
Boosts employee morale
Today, employees want to be a part of something bigger than their job role. It’s not their job duties that satisfy them. So, apart from being a part of the nine to six work culture, they feel motivated when their organization makes them a part of something bigger. The type of CSR activities a company conducts can make a difference.
For instance, companies often organize charities and programs to raise money for the needy.
When employees get involved in these activities, they feel they’re contributing to society, but with the help of their employers. This enhances their likeness to their organization and improves their mental well-being.
In the fast-paced world, as employees become demotivated by work stress, CSR activities and initiatives are motivational and allow them to become a part of something big.
To ensure employee engagement and boost their morale, you can use various software like the one from intellihr.com.
Encourages professional and personal growth
When a company follows a culture of CSR, they’re in a better position to promote volunteerism to its employees and encourage them to make donations to nonprofits.
This encourages employees to become philanthropically minded, encouraging personal and professional growth. Also, as employees know their employers focus on making the world a better place to live, they’re likely to feel more inclined to be creative on their own.
Contributing philanthropically does good for the company and leaves a significant impact on society at large.
Although CSR is not mandatory by the law, implementing it helps create a better world where people care for each other.
Offers an attractive company culture to potential employees
Besides increasing the current employee retention rate and commitment, CSR initiatives make an organization look attractive to applicants and potential employees.
Millennials are especially attracted to entering a workforce where they can positively impact society.
Your company’s culture is unique and gets noticed by current employees, potential customers, and employees. The value that makes up your company helps create the company’s culture. It depicts the personality of your business, and imbibes a culture of giving that can make you the talk of tinsel town.
For these reasons, companies like Google and Microsoft are world-renowned for imbibing an excellent CSR culture.
Enhances employer branding
A good CSR initiative can generate excellent employer branding. But why?
According to research, 75% of American employees refuse to work with a company that has a poor CSR reputation.
What is employer branding?
Employer branding is what candidates think about working at your company and your reputation in the marketplace.
Getting featured in the lists such as “The Best Places To Work” provides a stamp of approval that the culture, workplace, and reputation are good. It also signifies that the employer is good in terms of CSR initiatives.
When employees perceive working in the company as valuable, employee retention and job satisfaction are extremely high.
For this reason, HR managers stress the importance of maintaining positive employer branding.
Regardless of whether you’re hiring Gen Z, Baby Boomers, or Millenials, there is a shift in the CSR expectations of potential employees. As CSR continues to be a significant component of that shift, organizations can no longer overlook its importance.
So, the current focus is designing and developing a CSR strategy that focuses primarily on employee well-being while contributing to society.
Stress the importance of employee happiness and wellbeing before creating a CSR strategy because a strategy that doesn’t address these two aspects is completely flawed.
While the benefits a CSR initiative brings along seem countless, it largely depends on business goals and growth strategies.
When implementing a CSR initiative, ensure it aligns with your company’s mission and vision. It helps increase employee engagement and stress on doing good by winning hearts by performing one good act at a time.
What benefits are you reaping from your CSR initiatives?
Do let us know your experience!
Priya Jain has been copywriting professionally for over 8 years. She teaches math, spends her time running behind her toddler and tries new recipes whilst she isn’t writing. She has attained an engineering degree and an MBA. You can find her on LinkedIn.