“With extreme wealth comes extreme responsibility. And the responsibility for me is to invest in creating new businesses, create jobs, employ people, and to put money aside to tackle issues where we can make a difference.” – Richard Branson.
In the mid-80s, society started to question companies, and from that moment on, companies took a more active participation with their environment for the creation of actions that would have a positive impact. By the 90s, associations and corporate forums, as well as entrepreneurs on their own, began discussing the social role of companies and their responsibility within society.
Currently, policies for social responsibility in organisations and several studies have shown that these practices increase employee motivation, productivity and the sense of belonging to their teams, reinforcing talent attraction and retention, while also improving the work environment.
The authors who speak about the influence of Corporate Social Responsibility (CSR) on people management propose Ten Commandments for companies that want to evolve towards the concept of responsible and efficient people management:
- Incorporate responsible people management to the company’s global strategy.
- Encourage and establish a style of “responsible leadership”.
- Know how to generate and maintain a culture of responsibility.
- Put together effective mechanisms for stakeholders listening and participation.
- Know how to create added value along the company’s management.
- Facilitate the interaction between CSR and people management, and the rest of the areas.
- Set goals in the medium and long term, together with a measurement system.
- Make the most of the advantages of the interaction between CSR and people management.
- Define an agenda of responsible people management.
- Integrate CSR and people management in a “responsible people management”.
In this sense, 70% of Gen X (between 35 and 55 years old) and 54% of millennials (between 18 and 34 years old) would stop buying from a company which supports an issue they don’t agree with.