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When companies succeed in their establishment, with goodwill and a good customer base, they are expected to give back something to the society which supported them in getting to their position. CSR is an opportunity where a company shows its philanthropic intentions to the world. CSR, Corporate Social Responsibility, refers to the management concept where the company contributes to societal and environmental concerns. This helps in improving the company’s name in the customers’ perception.
These CSR initiatives include- emitting less carbon footprint, encouraging diversity, community volunteering, charitable donations, sustainable development goals, environmentally conscious investments, etc.
Here are 5 amazing CSR initiatives taken by these companies!
Google: we all know about this amazing company, its amazing applications, and services. It is one of the trustworthy companies which is not only because it is environmentally friendly but also because of its outspoken CEO, Sundar Pichai. In 2018, Google was given the Reputation Institute’s highest CSR score as it stood up against social issues during President Donald Trump’s reign, and also it uses 50% less energy than many other companies in the world. Google has committed over $1 billion towards renewable energy and it has enabled many other companies in the world to reduce their impact on the environment through the Gmail services.
Netflix: Yes! Netflix is not only amazing with its content but also with its contribution to its employees’ lives. Netflix offers 52 weeks of paid parental leave to a birth parent or a parent who is adopting a child. This 52-week leave can be taken at any point in time, whether it's at the birth or first year of the child or any other time where a child needs their parent. Not only does Netflix support its employees but also its customers. Netflix sets an example of how to target and reach a niche audience through social media. It always uses its social media platform to support any social cause, whether it's Black lives matter or Pride month, or environmental sustainability.
Wells Fargo: This financial services company uses up to 1.5% of its revenue to charitable causes every year to more than 14,500 non-profit organizations through food banks and incubators for science and renewable energy. During the COVID-19 pandemic, Wells Fargo has donated over $6.25 million to support people which includes, $1 million for CDC Foundation, $250,000 to the international medical corps across 30 countries, and up to $5 million for local community needs. Wells Fargo is also committed to advancing diversity and social inclusion by ensuring that the people of their workforce, the community, and the supply chain feel valued and get the same and equal access to all the services and opportunities being provided.
Starbucks: Need Coffee? Yes, this is your go-to coffeehouse. It is known for its keen sense of corporate social responsibility. Other than providing its customers with amazing coffee, Starbucks has achieved reaching many milestones like creating a global network of farmers and providing them with 100 million trees by 2025 and revolutionary green building throughout its stores, contributing many hours of community service and also creating a great college program for its employees. It strives to hire more than 5000 veterans and 10000 refugees and also reduce the environmental impact because of its cups and is looking for better waste management methods.
Infosys Ltd: As Chairperson, Sudha Murthy once said, “CSR can’t merely be a job, it’s a passion,” the company follows the motto as is. Infosys has been undertaking most of its CSR initiatives way before CSR was mandated in the country. Through all these years, the company focused on sustainable business practices about environmental, social, and economic requirements of not only the company but also the society. CSR of Infosys is not limited to only philanthropy but also the development of the holistic community. Infosys Foundation works with non-government organizations for implementing their initiatives. From helping Karnataka, Kerala, and Tamil Nadu with their disaster relief to helping the people in the COVID-19 pandemic by setting up 100-bed quarantines and over 182 beds for COVID-19 patients, Infosys has helped society in many ways.
We can expect to see many more companies that continue to show their responsibility towards society. This generation of millennials is giving more importance to the companies which have contributed to the development and growth of society, and the companies that treat their employees with respect rather than with a perspective of status or standard.
Companies that contribute to CSR seem to have a customer base that trusts them and is loyal to them. For example, the Tata group has a huge customer base because people trust the quality of their product and also are aware of their corporate social responsibility initiatives.
If a non-government organization can help people without many resources, then a company can help in doing much more to the society with their resources. Therefore, the more socially responsible a company is, the more supportive its community becomes. --- Jayasri