A Handy List of Stats That Demonstrate The Importance of CSR

Scrolling through the web, seeking out the perfect stat that would be the ‘cherry on the cake’ for your social value strategy, can be a time-consuming chore that many of us do not have the time to do.

Yet it is certainly worthwhile as it supports and validates the content of your social value strategy, so we’ve done the leg work for you.

We have collated an assortment of stats that you can use when compiling and pitching your social value strategies:

• CSR as Good for Business
• Employee Benefits
• Importance of Diversity
• Beyond Gender Diversity
• Sustainability

CSR as good for business

CSR is simply good for business. Let me prove it to you.

• • 94% of Gen-Z think companies should address critical issues.

• • 55% of consumers are willing to pay extra for products or services from companies that have dedicated social impact plans.

• • 64% of CEOS say CSR programmes are core to their business strategies
  • 63% of American consumers were looking to businesses to take the lead on social and environmental change.

• • 78% of people wanted companies to address social justice issues.

• • Effective CSR strategies can increase market value by 4-6%.

• • Over 15 year period dedicated social value strategies can increase shareholder value by £1.28 billion.

• • 87% of consumers said they would be willing to buy a product or service based on a company’s advocacy concerning a social matter.

• 76% of those surveyed said they would decline to do business with a company if it held views and supported issues that conflicted with their beliefs.

• • CSR strategies can help companies avoid revenue losses of roughly 7%.

• Companies that consider climate-change management in strategic planning see an 18% higher return on equity than those that don’t.
• Studies show that CSR functions are responsible for more than 40% of a company’s reputation.
• 20% lift in 1 year of people who would switch or boycott brand based on its stand on societal issues.

Employee Retention Benefits

Having social value is not only important for your customers, but it is also equally important for your employees.

• • 67% of respondents prefer to work for socially-inclined companies.

• • Engaging in socially valuable projects can reduce employee turnover by approx 50%.

• • According to  Deloitte, 70 percent of millennials studied listed their company’s commitment to the community as an influence on their decision to work there.

• Research by Cone Communications found that nearly two-thirds of young people won’t take a job at a company with poor CSR practices.

The Importance of Diversity

Diversity = business growth. It is an extremely important issue that you should consider in your social value strategy. You can read more about it here. But in the meantime, these are the challenges facing women…

• • Globally, men take home 75% more in wages than women.

• • Women make up 64% of the world’s illiterate population.

• • Only 23% of the world’s politicians are women.

• Women spend, on average, £18,000 on sanitary products over a lifetime.

And this is why your business should actively challenge this inequality…

Should you have women as members on boards, your business can experience:

• • 66% higher ROI per capita.

• • 53% higher return on equity.

• 42% higher return on sales.

Many businesses are aware of these benefits hence why:

• • Over two-thirds (69 percent) of executives rate diversity and inclusion an important issue (up from 59 percent in 2014).

• • Thirty-eight percent of executives report that the primary sponsor of the company’s diversity and inclusion efforts is the CEO.

• • Companies with inclusive agendas generate up to 30 percent higher revenue per employee and greater profitability than their competitors.

• This year’s Global Human Capital Trends research shows that 78 percent of respondents now believe diversity and inclusion is a competitive advantage.

Beyond Gender Diversity

Diversity in work is not exclusive to women, and it should branch out to consider BAME members of the community, the LGBT community and disabled members of society.

Think about these LGBT+ stats in relation to work, provided by Stonewall UK, and think about how you can challenge these issues.

• • Almost one in five LGBT staff (18 per cent) have been the target of negative comments or conduct from work colleagues in the last year because they’re LGBT.

• • One in ten black, Asian and minority ethnic LGBT staff (10 per cent) have similarly been physically attacked because of their sexual orientation and/or gender identity, compared to three per cent of white LGBT staff.

• • 18 percent of LGBT people (18 per cent) who were looking for work said they were discriminated against because of their sexual orientation and/or gender identity while trying to get a job.

• • More than a third of LGBT staff (35 per cent) have hidden or disguised that they are LGBT at work in the last year because they were afraid of discrimination.

• One in eight lesbian, gay and bi people (12 per cent) wouldn’t feel confident reporting any homophobic or biphobic bullying to their employer. One in five trans people (21 per cent) wouldn’t report transphobic bullying in the workplace.

Last but not Least, Environmental Sustainability

• • 9500 companies have openly joined the UN Global Compact in support of the UN sustainability goals.
  • 58% of g250 companies do not believe climate change to be a financial risk.
  • On average there are 22.7 less oil spills from 2010-2017 compared 1970-79.
  • 52% check product packages to ensure sustainable impact.

• • 2 in 5 UK women aged 16-24 would like to see brands using eco-friendly fabrics.

• • 72% of consumers would be interested in buying a product made entirely/partially from recycled materials.

• 79% of people believe people should be encouraged to recycle.