Evaluating and Redefining Your CSR StrategyMay 11, 2020
Kristen Carter | Account Supervisor
While it is crucial that your company handles an immediate crisis wisely and quickly, it’s equally important to plan ahead for a period of recovery and changes that lie ahead. This requires a focus on long-term goals for your company, community and nonprofit partners. After an unprecedented health crisis like COVID-19, the landscape will be completely changed. How can you grow your business and remain – or become – an impactful community partner in this new environment?
Being engaged in the recovery phase from a CSR perspective will strengthen your brand. After all, the faster we recover, the more beneficial it is for everyone. Remaining stagnant will only further damage the state of the economy and our communities at large.
Having a defined CSR strategy, no matter the circumstances or the state of society, is important. As you move forward with long-term CSR planning, consider the following six topics.
Was your company able to assist the community during the crisis? If so, where did you make the most impact? Consider the resources, skills and funds that truly made a difference.
Did your company emerge as a leader in adding value to the community? If so, how can you strengthen that role post-crisis? If not, make a plan to build your reputation as a trusted community partner.
How have your current nonprofit partnerships fared during the crisis? There may be some that no longer fit in your newly defined CSR scope. At the same time, there could be others that warrant added support.
What new business relationships has your company built during the crisis? Explore opportunities to continue and grow these relationships for the betterment of your company and/or the community.
What new relationships have been made and strengthened with government officials and elected leaders? These relationships may present opportunities to further your company’s public policy goals as well as other areas of your CSR initiatives.
How has your brand been redefined during this crisis? Consider the strengths and weaknesses this experience uncovered. During this time of uncertainty, it’s a better time than ever to ensure your company is certain of who they are.
More than likely, these considerations will lead to changes in your CSR protocol. This can be overwhelming, but the long-term benefits to your brand reputation are well worth the investment in time and effort. The Sunwest CSR & Philanthropic Services team is available to help guide you through the process if your company needs added support.