Two thirds of American small- and mid-sized business are looking to increase their Corporate Social Responsibility (CSR) efforts, both in their organizations and the communities that host them, according to a new report by Business4Better (B4B).
"Most mid-size companies have a business-with-a-purpose mindset," said B4B general manager Joshua Dome. "We conducted this research to understand the gaps and opportunities, with the ultimate goal of creating action plans for executives trying to infuse social good as part of the way they do business."
A strong majority, 60 percent, of survey participants are looking to focus the CSR plans around developing the workforce of the future by creating educational and training opportunities for workers and community members.
A two-thirds majority hoped to enhance the CSR efforts because they wanted to make a positive contribution to the community.
Apart from altruistic reasons, medium-sized business leaders also believe that CSR is good for the bottom line. Engaging in socially positive activity is believed to increase business performance, drive employee participation and improve brand reputation.
The report also revealed where employers believe their efforts at social responsibility need improvement. Most executives who were surveyed indicated a need to develop tools that will help measure the success of CSR programs and tie them overall business performance.