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BUSINESS NEEDS TO DO MORE TO COMMUNICATE CSR EFFORTS
New research has revealed a determination among corporates to stick with CSR programmes despite the downturn, while another study has highlighted the need for businesses to do more to tell their key stakeholders of their CSR achievements.
The latter findings come from the Corporate Citizenship Study 2009, which argues that "companies investing in CSR need to do more to communicate their commitment to consumers". It also claims that consumer perceptions of the CSR efforts of businesses are not necessarily an accurate reflection of CSR performance.
Interestingly, 40% of respondents argued that they would be "willing to take a pay cut to work for a socially responsible company", with 15% ready to reduce their salary by 6% or more to do so.
However it revealed that "almost no companies have any profile" when it comes to being seen as socially responsible, another indication that better communication is needed.
Meanwhile, a poll by law firm Pinsent Masons has found that organisations remain committed to their CSR policies despite the tough economic environment. More than half (58%) of companies with a strategy for reducing their carbon footprint remain committed to reducing this during the recession. This figure rises to 84% of large companies with a turnover in excess of £100 million. Kate Fergusson, CR manager at Pinsent Masons said: “Savvy companies realise that consumers and employees are increasingly looking to buy from and work for ‘ethical’ businesses.”