Why do you need help with your CSR strategy in 2022?Article
A business’s social and environmental impact strategy is no longer a mere philanthropic endeavour. A vast amount of academic research is suggesting that there are financial and operational benefits to implementing a corporate social responsibility strategy. An external social impact consultant will help you to reap all (financial) benefits of your social and environmental commitments, as they have expertise in social activism trends as well as legal developments in the field. Any external impact consultant offering legal, operational, and strategic advice, will be able to so in alignment with your business’s values. This means, that using an external social impact consultant creates the balance between profit and purpose needed for sustainable change.
Why do you need a CSR strategy?
A corporate social responsibility strategy allows your business to demonstrate its values to the public. These values will be integrated in all operations and decisions. Although this may sound daunting, there are many potential benefits to implementing a CSR strategy, provided it has been properly integrated:
- Greater employee retention and satisfaction
- Increased sales and customer loyalty
- Good reputation and brand recognition
- Access to capital by meeting Environmental, Social, and Governance (ESG) standards
- Financial performance
- Operational cost savings
You can read more about the importance of Corporate Social Responsibility here.
Reasons why you need external help with your CSR strategy in 2022
- Stand out
One of the most important reasons why you need help with your social and environmental strategy in 2022: you have to stand out! Whether corporate social responsibility is a trend or here to stay for the long haul (hopefully!), many businesses are taking advantage of the uptake in consumer, employee, and investor interest. This has led to a lot of greenwashing and other untruthful commitments. Rightfully so, consumers are very critical of the commitments made by companies, and your CSR strategy will therefore be scrutinized. By working with an external impact consultant, you are not only getting their expertise and knowledge in how to implement your CSR strategy; but you also get the credibility of working with a trusted and independent party in order to bring about change
- Prevent unnecessary costs
Implementing a successful CSR strategy is no small task and requires specialized professionals. You need someone who understands how social change works and how a business can bring this about. The expertise of a specialized impact consultant helps you to pull all your efforts together into a tangible, comprehensible plan for long-term sustainable profit and impact.
Social and environmental programs and strategies are often subject to the internal politics of a business. Using an external consultant will bring an independent, unbiased perspective to the implementation of the programs and strategies. Vital for the success of your overall CSR strategy is that the right stakeholders are engaged. An external consultant can engage all stakeholders without having any conflicting interests, which means they can come up with the best solution for stakeholders in line with the business’s values.
- Legal Requirements
In 2022, it is expected that a large number of new regulations and other legislation will be introduced in relation to business’ social and environmental strategies. Mostly, these relate to the field of business and human rights, and they will guide how you should treat human rights within your supply chain. Having an impact legal professional by your side who is up to date on new legislation is vital in protecting your reputation while simultaneously preventing social and environmental harm.
A good social impact consultant is able to inspire you to make changes. Moreover, creativity and flexibility are needed in this relatively undiscovered field to come up with new solutions to complex social and environmental problems. Fresh input potentially brings breakthrough insights or strategic decisions which may not have been put forward through your regular decision-making process(es).
Having specialized assistance with developing your CSR and sustainability strategy therefore is a worthwhile investment. If you want your business to truly have a positive impact on people and planet, you will need a CSR strategy to bring that about.
Would you like to receive more information regarding working with an external (legal) impact consultant? Set up an introductory call!
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