Studies have shown that a robust corporate social responsibility framework can also help a company become more attractive to potential future employees who are looking for workplaces with socially responsible practices, community mindedness and sound ethics.
For instance, in 2014, Nation Media Group, Equity Bank, EABL among other companies emerged as the best companies to work for in Kenya.
These practices help an organization to differentiate itself, its products and services from its competitors in the market place.
For example, when Dettol introduced its cause related marketing concept whereby upon purchase of any of their products a shilling is donated to charity, Dettol products gained popularity in the marketplace hence distinguishing themselves from other antibacterial soaps in the market.
Being an employer of choice typically translates into the company’s ability to attract and retain high calibre staff.
There are ways to approach being an employer of choice, including offering work life balance, positive working conditions and work place flexibility.The existence of these many definitions simply shows the great interests different quarters have in this subject. will provide governments with clear, common guidelines on how to address corporate behavior on human rights” (Khan, 2007).Some of these definitions are as outlined below:• According to the Canadian Democracy and Corporate Accountability Commission 2002, CSR may be viewed as the principle that corporations should respond to interests apart from and in addition to those of their shareholders.• The Government of Canada takes the position that “CSR is generally understood to be the way a company achieves a balance or integration of economic, environmental and social imperatives while at the same time addressing shareholder and stakeholder expectations.” In the same breadth, it also suggests that CSR is “an evolving term that does not have a standard definition or a fully recognized set of specific criteria.”• On the other hand, the European Commission defines it as a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis (2006). A more Despite this apparent diversity of definitions, there is the existence of underlying themes, which may explain the philosophy behind the concept.One of the reasons fronted for this was that they had the best employee - employer relationship which is a critical component of CSR.Brand differentiation CSR can help build customer loyalty based on distinctive ethical values."People" refers to fair labour practices, the community and region where the business operates."Planet" refers to sustainable environmental practices. Profit is the economic value created by the organization after deducting the cost of all inputs, including the cost of the capital Based on this measure, companies are able to be more conscious of their social and moral responsibilities.Human resources (it supports being an employer of choice)A well thought through CSR program can be an aid to recruitment and retention particularly within the competitive graduate student market.Potential recruits often consider a firm's CSR policy.Also try to imagine how life would be for plants, animals and even human beings in that ecosystem had Bamburi Cement decided not to do anything to make the barren land productive once again!In this case, Lafarge Group is a perfect example of the Triple Bottom Line concept being put into proper application.