Between the first artisan companies that emerged in the Middle Ages and those of today, in , there are many differences that are the result of an evolution of five centuries. Today no one doubts that companies are the pillar of the economy and that, apart from producing goods and services for society that provide returns to their owners and shareholders, they have a responsibility towards the social environment in which they carry out their activity. This vision has not been like that throughout history, far from it. Its increasing relevance is one of the main differential values of the companies of the 21st century with respect to those of previous times.
In modern companies, especially large and medium-sized ones, and even departments dedicated exclusively to it are created. To give an example, according to the ‘VI Report on the social impact of companies’, carried out by the Seres Foundation and Deloitte, they invested 1,246 million euros in CSR (Corporate Social Responsibility) in 2018, about 200 million more than the previous year . It also reflects that internationally. These data will probably increase considerably when the 2020 study is published, given the efforts made in the fight against COVID-19.
But what is it really and how is social responsibility executed? Basically, it can be said that it is the awareness of companies to carry out their activities in an ethical and sustainable way, assuming the impact they generate in their environment not only economically, but also in the social and environmental sphere. This awareness has two aspects of action. On the one hand, organizations seek internally, and on the other, externally, they directly help society, but they also try to expand their way of acting and encourage socially responsible habits in their suppliers and customers.
The well-being of employees is obviously achieved by providing them with good economic conditions, but also by offering them the opportunity to enjoy health programs, work-life balance, equality, flexible hours and, increasingly, promoting diversity, inclusion and concern for the environment. These types of actions are essential, on many occasions, to attract and retain the best talent, so that a person chooses to work in one company or another. In addition, they are a source of motivation and pride in belonging to the company. And the younger generations are especially sensitive to them, very aware of everything that has to do with recycling, caring for the environment or the good use of free time. Employees need to have an environment in which they can develop their concerns outside of work and participate in this type of initiative, and more and more companies allow corporate volunteering in different NGOs, for example, or that have their own foundations to do it.
And what to say about the perception that companies have from abroad. There are more and more contributions and the level of participation of companies in solving problems that affect the whole of society. CSR policies add value to the brand itself, provide prestige, a good reputation and help build customer loyalty. The reality is that companies are the first to be there and adapt their social responsibility policies when sudden needs arise. One only has to take a cursory look at the news published by the media in recent months to see the multitude of contributions that they have made to help the different administrations and society to fight against COVID-19 and its consequences. Many have made economic donations, others have contributed the experience of their employees, researching, manufacturing protective material, accompanying the most disadvantaged, etc. And each one has done it to the best of its ability, because at such critical moments all help is important and necessary.
Of course, in these cases it is necessary to highlight the importance of not making decisions impulsively and of a good public-private collaboration. The ideal is to make yourself available to public administrations or third sector entities, who are the ones who know first-hand the needs of society. It is the best way to increase the effectiveness of business contributions. An efficiency that it is necessary to demand from the strategy of the CSR department to the same extent as from the rest of the divisions. If things are done well, a good social responsibility policy will ultimately positively affect the business.
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