The year 2023 will be decisive in terms of companies' commitment to social responsibility (CSR) and environmental, social and governance (ESG) principles .

For several years now, organizations have been becoming increasingly aware of CSR and doing everything possible to ensure that it is anchored in their values and at the heart of their strategies. And it is with great commitment and time that companies have been able to see the benefits of these investments. 

For the year 2023, a strong probability of a slowdown in economic activity continues to grow. In turbulent times such as these, cost cutting is a strategy that companies need to adopt and unfortunately, CSR actions are usually the first to be discarded. 

These potential decisions come at a time when companies are making progress on this topic. A KPMG survey states that 70% of U.S. CEOs recognize that environmental, social and governance principles improve financial performance, up from 37% last year. 

The article written by Harvard Business Review makes business leaders aware of the importance of not stopping CSR initiatives and gives 3 reasons to get deeply involved in this topic. 

1- CSR in 2023: attracting and retaining talent 

This is one of the most important issues for companies today. With the evolution of the working world, talents are more than ever in search of ethical and meaningful companies. They are looking for a real quality of life at work and an organization with which they share values and a common vision in order to fully commit themselves. 

CSR is a subject with a positive connotation because it brings together all the practices put in place by a company from a social, environmental and economic point of view and considerably improves the employer brand. It is an integral part of attracting and retaining talent, so much so that some people refuse job offers or leave their company if they do not feel aligned with the values. 

"7 out of 10 employees want their jobs to have a societal impact, which they see as a strong expectation and a key requirement for joining a company," according to Edelman's special report. 

CSR in 2023

2- CSR in 2023: raising awareness among customers and prospects

In uncertain times, consumers are more than ever sensitive to the transparency and reputation of companies, very often associated with the implementation of actions in favor of CSR, which further promotes loyalty. 

It is the companies that respect their commitments to society that will make a real difference. More than ever, they must take into account the expectations and desires of consumers, who are increasingly demanding in terms of social and environmental responsibility. 

And it's proven: 73% of consumers support and reward companies that take action to help communities and the environment, according to the Porter Novelli Purpose Premium Index (PPI).

3 - CSR in 2023: building a company's reputation 

A CSR strategy and the deployment of CSR actions are a guarantee of a healthy company. The company no longer positions itself as a simple producer of goods or services but as a committed, responsible, respectful and ethical actor

Whether it's to consumers or talent, a company's reputation is one of the most important factors. It is its commitments that will maintain strong relationships with its various stakeholders and ensure that a strong reputation and employer brand are anchored. 

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2023 to give your CSR strategy a boost