Sunday, November 1, 2015

Stephen Souky - Why Corporates Should Get Involved in Community Service

Stephen Souky believes that community service could be just as beneficial to a business as it is to individuals. Over the last several years, there has been a growing interest in corporations and businesses in the area of community service, or corporate social responsibility (CSR). The interest originates from the community, employees, customers and job seekers. For individuals, community service and philanthropy can have a significant impact on their lives, even improving their health.
Job Seekers and Community Service 

Over the last couple of years, job seekers have begun to take an interest in a company’s CSR policy before applying for or accepting a job. In the corporate world, this could mean getting the best-qualified candidates to work for you based on your CSR policy. People are looking for companies that have a keen interest in the community. According to a study conducted by PriceWaterhouseCoopers, 86% of generation Y applicants said that they would resign from their jobs at a company if the CSR projects started to decline. Studies have shown that volunteerism in the workplace is making a huge impact on employee retention and recruitment, and this will only become more prominent as generation Y moves up the corporate ladder.

Employees and Community Service
Many businesses and corporations have adopted a CSR policy and have created various opportunities to get their staff involved in community service projects. The kind of community service organized by the company makes the employees feel proud about working there and making a difference in the community. Volunteering for community service helps promote and build a positive culture in the company and greatly influences teamwork in the workplace. The greater the number of volunteers, the bigger the impact a company can make in the community. Volunteering for community service helps employees gain additional skills that can be used outside the workplace. 

HP is a great example of how volunteerism can boost job satisfaction. The company’s work with “A Billion+ Change” has led to over 1.6 million hours or volunteer work, and employee job satisfaction had risen from 60% to 70% in a matter of two years. 

Customers and Community Service
With the increase in the use of social media, customer perception has a massive impact on a company’s brand. People aren’t just taking into account the products and services provided by a company, but also what community service the company is involved in. A classic example of a company that works with customers is The Walt Disney Company. It has a great reputation for working together and giving back to the community. Philanthropy and volunteerism have always been part of its company policy and culture, and the company has showed true interest in helping people improve their lives. 

Stephen Souky is an experienced accountant and the President of the Niskayuna Girls Travel Basketball Team.