June 23, 2021
How To Track CSR To Prove Your Social Value
When an organisation is able to track CSR effectively, it brings a plethora of benefits that they can showcase to attract employees, engage their audiences, and intrigue investors. Successful sustainable businesses track CSR to improve their CSR performance, plan their future endeavours, and to optimise their actions.
A business which knows how to track CSR efforts efficiently can use their statistics and findings to approach new stakeholders and consult their existing investors confidently and impressively. We’ll go through how to track CSR in this blog, highlighting what to look for and how you can then showcase your social value to build business.
Track CSR Easily and Efficiently
There are a number of ways a business can track CSR, the main ones being assessments, audits, and surveys. To determine the impact your business is having on the community, a survey is a surefire way to pinpoint how positively your organisation is perceived. An evaluation of your work towards your corporate social responsibility by the members of the community you’re working in will allow you to directly discover the impact your organisation is having.
Another way to track CSR is through external agencies who can impartially monitor the effectiveness of your CSR efforts through monthly, quarterly, or annual reporting. Alternatively, organisations can appoint a committee who will track CSR and evaluate the impact and performance of each project. Full audits should be undertaken to ensure that the full potential of the project is being reached. Since the importance of tracking CSR has come to light, a number of software programmes have also been developed to measure the impact of CSR programmes.
With Investors In Community, our platform allows you to track CSR effortlessly and effectively. Each project and individual task is monitored, measured and rewarded through Community Credits, which can then be used to showcase your social value and track CSR.
What to Look for
There are many criteria to consider when you track CSR, such as whether your efforts are achieving your aims, how well-executed your activities are, how efficiently your resources are used, and how much longevity your projects have. In order for your CSR efforts to have optimum impact on your organisation, your projects need to be aligned with your company culture and values. The more relevant your CSR projects, the more impact you’ll have on brand awareness, the more engaged your employees will be, and the more meaningful your CSR tracking will be.
When tracking CSR, in order to see your progress and the increased impact you’re having, benchmark your organisation against companies with high-flying corporate social responsibility. Before you set out on your CSR mission, decide upon key performance indicators that you can continually monitor and strive for, letting you tick off your targets as you achieve them.
As you track CSR, you should notice cost savings, as well as increased customer acquisition and retention. More and more consumers are drawn towards CSR-driven companies, and so being able to track CSR and showcase the results will attract attention, as well as footfall. Brand awareness will also be on the up, as members of the community demonstrate the power of word of mouth marketing. The hassle of recruitment will also ease as you track CSR improvements. Candidates of today are usually on the lookout for a company that does great things, is sustainable, and focused on their CSR impact, and so showcasing your social value through tracking CSR will bring only the best CVs to your company, whilst keeping hold of the top talent already flourishing in your organisation.
Showcasing Your Social Value
It’s essential to track CSR to clearly and coherently demonstrate your social value to investors, with CSR and Environmental Social Governance now becoming key factors in investors’ preferences and decisions. What’s more, it’s not just investors looking for responsible businesses; consumers, clients, and potential recruits are increasingly insisting on sustainably and socially responsible businesses to involve and associate themselves with.
When a business can track CSR and showcase their social value, they’ll win the buy-in from employees, customers, and investors alike, especially when they provide transparency surrounding their goals and their progress. CSR-focused businesses are also less likely to face lawsuits and boycotts, when they’re able to showcase their ESG and CSR efforts.
Your organisation should measure and track CSR to guide your choices moving forward surrounding which projects to get involved in, to enhance the efficiency of your current CSR efforts, and to encourage investors and stakeholders to take action too, as part of your organisation.
Investors In Community is the home of CSR projects, with initiatives spanning the breadth of the country, working towards all kinds of different, important causes. Using our platform allows you to handpick the projects that are most relevant to your team and your business objectives, allowing you to track CSR and showcase your social value in the most impactful way. Once you and your employees sign up, you can begin to earn Community Credits. These gems of opportunity allow you to put an actual number on your CSR impact; clearly showcasing your social value and your care for the community, and putting your company in the spotlight when it comes to recruitment, investments, pitching, and applying for tenders.
Demonstrate your social value and track CSR and your achievements with Investors In Community. Simply click here to discover the benefits of showcasing your CSR and ESG, and sign up for your free demo.
