Corporate Social Responsibility, or CSR, refers to a company’s accountability for the consequences of its activities on social, economic and environmental fronts. There are many components to a company’s CSR approach, including ethical governance and sustainability in the supply chain. An important part of it is involving employees in programmes that ‘do good’ in a way that, ultimately, isn’t related to making money or their day-to-day role. But hustling for ‘a bit of charity work’ doesn’t cut it any more, and a fully integrated CSR strategy must be at the core of any law organisation’s business model. If the keepers of the purse strings need a little convincing to relinquish budget on this, here’s some rather persuasive arguments for the case.
Employee satisfaction
Any good company values the health and happiness of its employees. A big factor in job dissatisfaction is feeling that the work doesn’t matter and has no meaning. Offering employees the opportunity to contribute to a worthy cause using their unique skillset can transform their attitude to the work as a whole and lead to a happy, satisfied workforce.
Staff retention
A surprising statistic discovered by a Harvard Business Review survey found that up to 9 out of 10 people would take a pay cut for more meaning at work. So a company that puts salary at the core of its HR strategy may find that throwing money at the situation won’t fix a high turnover of staff (and the detrimental effects that has on their bottom line).
Boosting productivity
A happy, more satisfied workforce will take fewer sick days, be more engaged, more focussed, and up to 20% more productive. Giving up potentially billable hours to pro bono projects that offer no financial return may feel galling to any business team, but it’s a strategy that has bona fide business rewards.
Attracting talent
Good people thinking about the next step in their career are looking for the whole package. A law firm that’s got a solid CSR programme shows that, along with offering opportunities to give back, this is a company that cares about people. 50% of millennials, who will make up half the workforce in 2020, consider a company’s CSR policy as an important factor in whether they want to work there.
Good PR
A company’s reputation goes far beyond its employees and potential associates – clients, suppliers and the industry as a whole are assessing ethical viability when it comes to spending money on or partnering with a law firm. A healthy CSR policy contributes just as much to competitivity in the market as anything else.
Knowledge exchange
There’s always something to be learned. Broadening an employees’ horizons through community outreach can have a positive impact on the skills they bring to the table. It can be as simple as developing interpersonal skills to going as far as cultivating an ability to adapt and apply legal or managerial skills in entirely new contexts.
Contribution to the UN Sustainable Development Goals
Every organisation in the world needs a strategy for stepping up to the 2030 vision of the UN SDGs. Good CSR policies incorporate the goals into their framework and therefore ensure that the sustainable management and growth of the company supports the sustainable development of the planet.
Lawyers for Good works with law firms to develop strategic, integrated CSR programmes. Get in touch to find out how we can help your business.