CSR360

Posted: Tuesday 26 January 10, 1.48pm GMT

The downturn of late 2008 and 2009 has challenged companies on all fronts, despite signs that the economy is beginning to recover. During these tough times, some companies have questioned the continued importance of their Corporate Social Responsibility (CSR) strategies. In the face of budget constraints and headcount losses, initiatives such as investing in the community and promoting the wellbeing of staff are increasingly under threat by those who continue to see such activities as only for the ‘good times’. Yet these approaches reflect a lack of understanding about the true essence of corporate social responsibility. CSR is not about what companies do with their profits at the end of the day. It is about achieving commercial success in ways that honour ethical values and respect, people, communities and the natural environment – and this holds true whatever the business climate. Indeed responsible business practice is more important today than ever.

With a wholesale lack of confidence in big business, companies need to find a way to rebuild trust and credibility – both internally and externally. Particularly at this time when indications are that the economy is beginning to recover, it is essential employers find a way to motivate and engage their employees. For instance, a recent survey from the Hudson Report found that employer expectations for increasing hiring in Hong Kong rose from 22% to 35% between quarter three and quarter four of 2009. This same employer survey indicated that talent development and staff retention are key human resources priorities for Hong Kong in 2010 across all sectors1. As companies look to identify ways to motivate and engage their staff, CSR strategies are particularly key in this respect.

Employee Volunteering and the Corporate Agenda

Initiatives such as employee volunteering – with its opportunities for employee engagement, team-building, personal development and skills training, not to mention positive reputation and standing in the community – should not fall off of the corporate agenda. Instead companies should be more innovative and creative in their approach, looking for ways to collaborate and pool resources to maximise impact. A new publication from Community Business, *Corporate Community Investment – Not Just for the Good Times* describes two programmes that Community Business promoted in Hong Kong in 2009 to encourage companies to contribute their time, skills and resources with the local community. The publication seeks to make the business case that CSR initiatives, and employee volunteering in particular, should be maintained – even when times are not so good.

Maximising Impact of Employee Volunteering Through a Collaborative Approach

Corporate Community Investment or CCI, is a key component of CSR. It is often the most visible way a company can demonstrate that it is a responsible employer. It involves a company giving its time, skills and resources to the local community – and in so doing has benefits not only for the local community but for the company and employees themselves. As a leader in CSR in Hong Kong, finding ways to lead, inspire and support companies to make a positive impact in the community is central to Community Business’ mission. Collectively our 40 member companies, which make up the Community Business leadership team – a unique group of business leaders in Hong Kong committed to CSR – represent a range of industries and have access to valuable corporate resources that can be pooled and applied for the benefit of the local community.

In 2009, despite the economic challenges that we knew our member companies were facing, Community Business organised two programmes to encourage companies to take action in the community jointly: ENGAGE ‘Journey of Opportunity’ Programme and Employee Volunteering Week (EV Week). It was our view that, particularly in the current economic climate, companies could achieve more by working together and our aim was to facilitate this process. The publication summarises these activities, lessons learned and seeks to assess the impact with a view to encouraging more companies to recognise the value of employee volunteering – with its potential benefits to business, employees and the community.

To read, Corporate Community Investment – Not Just for the Good Times, click here.