Giving Compass' Take:

• Little Phil explains how companies can develop strategic CSR to maximize their social impact and benefit their bottom line. 

• How can organizations change their processes to include this advice? How can philanthropists work with companies to help guide their CSR? 

• Learn how to incorporate CSR into your everyday actions

Instead of simply donating a lump sum, companies can maximise their benefits of a CSR program by making strategic decisions about how to spend their CSR budget. One aspect of a strategic CSR plan should include incorporating employees into the decision-making process of which charities to support, further increasing employee engagement and productivity.

Companies can distribute their charitable giving budget among employees, or award them through a bonus program for staff recognition. Just like other givers on our platform, employees will be able to track the donation all the way to the cause and be notified as soon as their receiver gets the benefit of the donation as well as a direct expression of gratitude, fostering a warm connection between them and their receiver(s).

Strategically, a company could also opt to limit the choices to a certain type of charity or area of operation. For example, a local business may increase its reputation by supporting only local charities and community projects.

By giving staff a level of autonomy over the CSR program, a company ties it’s branding into the employee’s personal compassionate interests. Empowering employees to give to others, reduces stress and increases positive emotions — and a happy worker is a productive worker. Further research also demonstrates a staff turnover reduction of up to 50% and increased employee engagement by up to 7.5%.

Read the full article about strategic CSR by Little Phil at Medium.