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JOYCE
LOUGHNAN on why CSR makes good business sense
Akey strand of support formany charitable organisations like Focus Ireland is that provided by companies through CSR programmes. CSR makes good business sense for companies in many
ways, including the fact that it helps boost staff morale in difficult times. It encourages increased creativity as staff are stimulated by this engagement. Staff are given the opportunity to participate in different activities fromtheir day-to-day work, which helps them to develop new skills and improve self-awareness. By engaging with charities, businesses also develop dif-
ferent perspectives. Charities typically work with people on the margins, so when businesses actively support their work, staff gain a better understanding of wider society. Partnerships with charitiesmean staff get the chance to
apply themselves in a practical way tomake a difference in society. This helps to stimulate thinking on solutions and also helps enhance job satisfaction and employee loyalty. Research also shows that consumers give preference to
companies that support the community through a CSR strategy. In tighter markets every advantage counts and CSR is proven to help build consumer loyalty. However, it should be noted that it takes time to choose
a charity that fits with the corporate’s own strategy and ethos. It also takes effort for charities to developmeaning- ful ways for corporates to provide appropriate support, applying their assets, resources, scale and core competen- cies to the benefit of the charity. It is therefore recommended that partnerships are
agreed to for three to five years to allow for engagements to mature and deliver measurable outcomes.
It is clear that CSR shows that business success and soci- etal responsibility are compatible and also mutually rein- forcing as they open up business opportunities, increase customer satisfaction and loyalty, boost staff motivation and innovation and improve reputation. Last and by no means least, companies get to play a piv-
otal role in supporting work to change people’s lives for the better through their CSR support of charities like Focus Ireland.
Joyce Loughnan is chief executive of Focus Ireland. She is a new member of the Institute of Directors in Ireland.
‘It takes time to choose a charity that fits with the corporate’s own strategy and ethos. It also takes effort for charities to develop meaningful ways for corporates to provide
appropriate support’ Joyce Loughnan
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