Why Doing Good is Doing Well
Social responsibility is key to attracting and retaining today’s millennials (born 1982 – 2002) as both employees and consumers. With the millennial population size predicted to outstrip baby boomers, they’re an important group to target.
From an attraction point of view, Leigh Buchanan, Editor-at-large at Inc magazine says: “One of the characteristics of millennials, besides the fact that they are masters of digital communication, is that they are primed to do well by doing good. Almost 70% say that giving back and being civically engaged are their highest priorities.” Your mid-career and graduate recruitment strategies therefore must include communicating around CSI – how your company and its employees are giving back.
From a consumer point of view, this article sums it up: “International think tank Ethisphere Institute recently published a list of the most ethical companies in the world, culled from nominations and chosen based on a comprehensive investigation of a company’s culture and practices.
Once you’re a do-gooder, consumers will take note. As it turns out, many of the most ethical companies also rake in some serious revenue.”
So it turns out doing good means doing well all around. And don’t forget to share what you’re doing – if your social media strategy doesn’t include CSI have a re-think. The first place potential employees and consumers from Gen X onwards look to find out more about your business or brands is Facebook, as the most widely used social media platform across the generations.