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Friends Provident | CSR case study | fresh approach

Being a responsible business is no longer up for debate. Whether it may be fostering discrimination in the workplace, turning a blind eye to child labour, or dumping waste illegally, this day in age companies cannot afford to behave unethically.

Employees, costumers and investors expect more from retailers and service providers. It is our job as corporate responsibility practitioners, to demonstrate what we do well as a business to meet their expectations. Going beyond that, it is about challenging our own individual business practices, in whatever role we play in the company, to exceed the expectations placed on us.

So what is Corporate Responsibility?

Corporate Responsibility put very simply, are all those actions that go beyond compliance that show due consideration for others (employees, suppliers, customers, neighbours, etc) and the environment. The challenge is however, to offer the best possible deal for all those concerned and at the same time, create a win-win situation for the company on a long-term basis.

Corporate Responsibility means getting to know your stakeholders in the first instance, and then taking into account their interests when making business decisions. It is about investing for future gains and owning responsibility for the impact and influence that we have as a business.

How does corporate responsibility apply to HR?

By its very nature, the Human Resources function of any business has a great part to play in being a responsible business. The list below exemplifies some of the issues that are directly linked to going beyond compliance:

  •  Ensuring that high standards apply to all employees, including off-shore employees and those employed by suppliers
  • Going beyond what is required by law to widen diversity and promote equal opportunities in the workplace
  • Encouraging a more calibrated work / life balance
  • Ensuring fair and transparent compensation for everyone regardless of their position / location
  • Providing a working environment that is safe and safeguards employee’s health (including mental health)
  • Promoting development and learning opportunities for all employees
  • Encouraging recycling and responsible use of resources (transport schemes, etc)
  • Increasing employment opportunities and capacity building for the wider community – e.g. internships, apprenticeships, help with interviewing skills, CV writing, etc.
  •  Facilitate programmes for employees to engage with their wider community and learn new skills

The list above is not exhaustive, it simply aims to exemplify business practices that invest in people, the environment and the company for mutual gain – this is living corporate responsibility.

Should CR be seen as a separate function?

What makes a company “responsible” is the way it conducts every day practices. Therefore, the cloth and thread of corporate responsibility is the business itself.

However, some companies (especially those that are large and multinational) choose to have dedicated departments in order to challenge, embed, coordinate and communicate sustainable practices across the business. The Corporate Responsibility department puts together the dress, out of the cloth and thread derived from the business.

Why did Friends Provident decide to introduce a CR function?

Friends Provident was founded in the early 1800’s based on Quaker origins. Ethics have been at the very heart of our business ever since. Our customers, investors, employees and neighbours expect us to uphold our values in every thing we do.

Our Corporate Responsibility team collates “evidence” from across the business to demonstrate and communicate that we are indeed living our values and conducting business in an ethical manner. As part of these efforts, we produce an annual report.

A business needs to achieve a careful balance between profit, people and the environment. Where there is a clear contradiction in what our stakeholders expect from us to our every day business practices, the Corporate Responsibility team challenges that particular area and works with them to either mend the situation or produce an appropriate response.

Why should other employers set up CR schemes?

Chances are, employers who are reading this are already going beyond compliance in many different ways. It is up to each particular business to decide whether they would like to communicate what they do well, and perhaps more importantly, make a public commitment to embedding responsibility further across their business.

The benefits of behaving as a responsible business are many, but some of the benefits include:

  • Improve recruitment, retention and staff loyalty
  • Foster greater productivity
  • Safeguard reputation and brand image
  • Gain competitive advantage
  • Reduce cost burdens
  • Secure and maintain a licence to operate

For an explanation of the derived benefits above and to get more information on the topic, I recommend the International Business Leaders Forum web site:

Any future plans/developments

We are operating in challenging economic conditions. Nonetheless, we hope to demonstrate our unwavering commitment to corporate responsibility in the future. We are very much aware that it makes good business sense and ultimately affects the bottom line.

Published Thursday, 28 August 2008 by Sandra Prida



Comments

 

CSR said:

So what is corporate social responsibility (CSR)? Where should it sit within an organisation, and who

August 28, 2008 12:13 PM
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