Why Be A Business With A Social Purpose?

There’s plenty of benefits to gain from building a social purpose into your business strategy. 

 

Simply put – in today’s world, you can’t afford not to be a business with a social purpose. In order to be a business worth your salt, it’s not a question of if you should have a social purpose, but rather what you do. Success looks different for everyone, but today it’s about much more than money. It’s no longer solely measured by your business’s annual turnover, but by who you’ve helped and what causes you’ve supported.

The idea of being a business with a social purpose centres on the concept of leaving a legacy. If you want to assert your businesses as the best in its industry, and attract the best talent, then a social purpose needs to be built into your organisation’s DNA.

Collaborating to Choose Your Cause

We know that creating change is challenging. To make a real difference requires the backing of the whole business. So it makes sense that when choosing a cause, you should look to your people.

A top-down approach isn’t always effective. Just because the CEO connects with a particular cause on a personal level doesn’t mean the company’s whole population will. Your charitable efforts then risk not being as successful as you hoped. A collaborative approach should help set you up for success. Turning the choice of cause over to your people solidifies a culture of trust. You then empower them to do more for causes they care about and increase your CSR output too.

Retaining Your Talent

There’s no shortage of bright, new talent out there. But retaining them is another task entirely. The emerging workforce have never known a working world where you stay in one job for a decade. They expect to be changing roles every few years. GRAYCE Analyst Andrew Frain said, “The CSR efforts of the GRAYCE Community were a huge driver in my application to join the Development Programme.” To attract and, more importantly, retain the best talent, you need to offer a competitive package. Today that includes opportunities to shape businesses’ social purpose and get involved in CSR efforts.

As we continue to combine our personal and professional lives, this gives us the opportunity to do more for the causes we care about. As a businesses that kickstarts the careers of bright new talent, our CSR efforts at GRAYCE are something we’re often asked about during the recruitment processes. This is likely because the emerging workforce are passionate about philanthropic pursuits. Instead of imposing top-down initiatives, empower your people to drive your organisation’s social purpose. At GRAYCE, that means Analysts creating and leading our CSR Committee and Women in Business Initiative. By placing your people at the heart of your charitable work, they boost their personal development alongside the impact for your chosen charities.

Building Social Purpose Into Your Calendar

Gone are the days of businesses supporting one-off annual projects that have no connection to their work in name of philanthropy. A consistent, local focus promises greater success. It’s all about setting that expectation. At GRAYCE, our CSR calendar offers something for everyone to get involved in and ensures our commitment to our social purpose never wavers. CSR then becomes second-nature as it’s built into the way your business operates. Everyone from clients to new starters can see it’s at the heart of how your organisation operates.

The values that tie a business community together make it stronger. Whilst it’s nice to come together with a colleague over a cup of coffee, it can be truly transformational to come together in support of causes you’re passionate about. So, there’s no better way to strengthen your community than with ambitious CSR goals. From charity skydives to 20 mile treks, there’s plenty of ways to challenge yourself for a good cause at GRAYCE. Giving your people the professional support and investment to succeed, creates a culture of trust where your community is empowered to support causes it cares about. It’s a win-win scenario.