Corporate social responsibility (CSR) means many things to many people. In the most basic of terms, it’s how your business treats others – customers, employees, the community, the environment and society as a whole. Regardless of whether your property management company has 10 or 10,000 employees, recognizing and embracing the importance of social responsibility is something you absolutely should be doing. In fact, if you’re not, you could be jeopardizing the relationships your employees have with your brand, which means lower satisfaction and engagement and subsequent higher turnover rates.

Don’t believe us? Here are 3 distinct (and proven) ways that a strong, positive CSR can directly impact the performance and happiness of your employees.

It makes people want to work for you

According to a recent survey conducted by Nielson, 67% of employees list corporate social responsibility either as a requirement or at least a strong differentiator when choosing the right employer. Over the past few decades, there has been a marked shift from a sole focus on company perks (what’s in it for me) to company ethics (what’s in it for society as a whole). This is particularly prevalent among Millennial workers, who are currently taking over the workforce.

In other words, say what you mean, do what you say and give back more than you take.

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It can (and should) support overall business objectives

CSR isn’t just about making an annual donation to charity. It’s about incorporating responsibility and ethics into your company’s very culture. As such, the right strategy should be built into who you are as a business, rather than a one-off or temporary initiative. This lends to a greater degree of validation and employee acceptance and adoption. Tying your CSR in with your business objectives requires the following:

• CSR objectives are developed and agreed upon by all key decision makers
• Metrics are measured both to verify adherence and also provide social proof
• The CSR program complements and/or supports other company goals and objectives
• Everyone in the company – from the C-suite down to the front line employees – is excited and on-board
• Key staff members are designated to oversee the ongoing development, implementation, measurement and maintenance of CSR objectives
• Some or all components of the CSR program are incorporated into every employee’s job description (i.e. recycling is everyone’s responsibility)

It makes employees feel valued

A strong, positive (and effective) CSR program isn’t just about giving back to the outside world, but should also focus on investing in your employees as well. It’s about helping your workers grow and become better – both professionally as well as personally. Almost 60% of the Millennials entering the workforce today list professional growth as their most important goal and the biggest motivator for staying with a particular company.

You can help those working within your property management company grow by applying the following:

• Have formal personal development plans in place for all employees
• Allow and encourage workers to expand their knowledge and skillsets
• Cross-train employees and facilitate mentorship programs
• Recognize, celebrate and reward accomplishments
• Offer optional volunteer programs
  

Related Post: 5 Easy Steps to Improve Your Team’s Morale

All that being said, when developing a CSR program for your own company, there are certain best practices that should be followed. In particular:

• Remember that CSR is more than just a PR move, but a long-term, sustainable strategy
• Invite employee feedback and include workers at every level in the ongoing development of CSR initiatives
• Ensure that those in top leadership roles aren’t just aware of, but are active participants in any and all CSR initiatives
• Communicate and promote your CSR program whenever and wherever feasible (everyone should be aware of it)

Simply put, the happier and more engaged your employees, the better they will perform which can be directly tied to increasing your property management company’s profitability. By making social responsibility a priority in your business, you’ll be able to master these achievements and realize more sustained growth over time.

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Get the full scoop on How to Build an Extraordinary Property Management Team. Download our FREE RESOURCE GUIDE.