4 Tips to Protect Your CSR Programs in a Recession
Photo by Joel Muniz on Unsplash
A recession is likely in our future. For the last year, even the tech sector, which has often been able to survive economic uncertainties, has shed jobs or cut expenses. With bleak stock market numbers recently, some companies may consider putting Corporate Social Responsibility departments on the chopping block. That, however, would be a mistake. Instead, here are 4 tips to protect your CSR departments in tough times.
Optimize Your CSR Strategy.
Ensuring that your social impact strategy clearly aligns with your brand is one of the best ways to make it work for your benefit. With less money to spend, consumers will want to make sure that the dollars they do spend are with companies they support like Trader Joe’s, which donates 100% of products that go unsold to food banks and other food recovery partners, or Subaru of America, which markets itself to outdoor adventurers and is the National Park Foundation’s largest corporate partner.
Use CSR as a Low-Cost Way to Motivate Your Team.
Employees who see suffering around them may want to help and will be proud to work for a company that allows them to assist others. Programs can be as simple as coat donations in the fall or winter, which allows individuals to give extra items they have to those in need. Companies can also use volunteering to assist in skill development like Give To Get’s leadership workshops.
Save Money Through Tax Deductions.
If individuals are doing good work through volunteering, the IRS usually provides a bit of tax break. The same is true for corporations as well whether they make monetary donations or provides products. Your company, especially if it has unused inventory because of the recession, may want to determine if your CSR program can help donate excess products to nonprofit programs that align with your company’s values to receive a tax break.
Do More With Less.
During economic downturns, teams often need to do more with less. Positions that open may not be filled. Give To Get offers an on-call CSR Services solution that can assist teams that are experiencing a hiring freeze. Our team can curate volunteer opportunities, manage nonprofit partnerships, develop internal campaigns for teams and meetings, and create Impact Reports that highlight the benefit of these events. We have assisted organizations both nationally and globally in this way and served as both a short-term solution during family leave for some clients as well as a long-term solution for others. With no training needed, our team can be ready to assist you quickly!
If you’re looking for more ways to protect your company in the next recession, contact our business development team to learn more.