Much like during the pandemic, CSR leaders are becoming hyper aware of the needs their community, and own employees will face during economic uncertainty. Similarly, companies are considering strategies to secure their financial stability.
We want CSR leaders to be armed with the latest data and resources to plan how to take care of their employees and give back to their communities throughout disasters or any economic uncertainty. Because we cannot prevent all bad things from happening, but we can be prepared to help.
Resources
Recession Proof Your CSR
During a recession when expenses often get cut back, CSR can feel like a nice-to-have instead of a need-to-have. However research shows that companies can strategically invest in CSR and see future returns. Learn more about why companies should maintain their investment in CSR throughout a recession
5 CSR Statistics About the Return on Investment
- CSR programs have shown to increase market value by up to 4 – 6 %
- CSR programs have shown to increase revenue by up to 20%
- Every 1$ in corporate philanthropy contributions can generate $6 in increased sales revenue
- CSR has shown to reduce staff turnover by 50%
- CSR programs can increase employee productivity by 13%
Planning Social Impact During a Recession
Employee giving and charitable donations inevitably decline during a recession, but we gathered some ideas to plan employee engagement strategies for 2023 that keep in mind employees may be cutting back on spending.
Creating and Managing an Employee Assistance Fund
Employees are the life of every organization and companies saw first-hand how some struggled through the unexpected hardships from the pandemic. The annual stress in America survey reports that money-related stress is the highest recorded since 2015. Your employees could be one hardship away from not being able to support their lives or families. Determine how your company can support affected employees if disaster threatens close to home. Employee Assistance funds can be a great way to provide a scalable opportunity to collect donations and allow employees to support each other.
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