The Importance of CSR Initiatives: Growing through Data

Why should we invest in Corporate Social Responsibility initiatives? Have you found this question floating around your team meetings? 

Understanding your social climate goes hand in hand with understanding your customers and longevity of your business. Regardless of where your business is located, social issues are present and have an impact on your company whether it be directly affecting your staff, your customers or even your company’s daily service driven activities.

Without delving deeply into any particular issue, it is important to note that yes, your business can be affected by issues facing surrounding communities and it is quite important to bridge the gap that may be existing, and contribute to not only your personal but your business’ ecosystem.

Whilst the goal of CSR initiatives are rooted in sustaining your ecosystem, there are other benefits to your brand. Corporate Social Responsibility initiatives are crucial to brand awareness and brand growth. Customers, and other stakeholders inclusive of government agencies and ministries, pay attention to like minded organizational goals to seek long term partnerships and recognition. 

Stakeholders and potential customers monitor CSR initiatives to align themselves to brands and companies. Having genuine CSR initiatives that are amplified by your brand creates a level of trust, confidence and relation with customers who also see the value in the work that you do through this.

For example, every year thousands of people across the Caribbean and the international world anticipate Sagicor’s Sigma Run. This CSR initiative is geared toward advancing a number of healthcare facilities and orphanages that house people living with disabilities across Jamaica. As an insurance company, this initiative bridges the gap of limited access to financial resources to the communities it serves as well as the athletic spirit in Jamaica. Customers and the public therefore see care and urgency from Sagicor and will identify as such, when/if they are interested in purchasing insurance.