5 social responsibility trends that SMEs need to implement

The world is changing, only in recent years, what we knew as normal is no longer normal as a result of the pandemic, which has also modified the interests and needs of people, something that companies in all sectors must take into account for your business strategy.

Regardless of the size of the organization or the area in which they specialize, one of the priorities that should be in the agenda is the theme of Corporate social responsibility (CSR), from the operational part, the way to generate income, in collaborators, clients and all those directly and indirectly involved in the business.

According to data from the consulting firm Nielsen, 75% of consumers are willing to invest in brands whose commitment is based on social responsibility, in addition to assessing whether the materials used in the products are ecological, sustainable and care about the welfare of animals. Hence the importance of transforming organizations, especially small and medium-sized companies, the backbone of the Mexican economy and the one with the most growth complications.

Being the SMEs With smaller collaborators, social responsibility can arise from the foundation and can also be adopted in a better way if the company is already established, but what should be taken into account? What practices are the most appropriate?

To help in this process, either from the start of the company or if it wants to evolve, makesense Americas shares what are the five trends in terms of social responsibility that organizations in Latin America should consider to enhance their productivity and image:

1. Commitment to sustainability and SDGs

The year 2023 is the deadline to act to reverse the environmental and social situation that the planet is experiencing, for which the 2030 agenda of the Sustainable Development Goals (SDG) was created, which addresses points such as combating poverty, generating work decent and economic growth, generate affordable and clean energy, among others, which involve the participation of organizations of all sizes.

Given this, companies must dedicate themselves more than ever to the fulfillment of these objectives from their business model, which in the long run will be transformed into greater productivity and organizational growth.

2. Social innovation in CSR strategies

Businesses need to innovate in each project, but with a positive impact, as this will allow them to grow, be more competitive and stand out in the market.

To achieve this, the following techniques can be implemented:

• Lean Methodologies: Its main objective is to achieve the greatest possible impact on projects by optimizing resources and eliminating activities that do not add value to the final objective.
• Collective intelligence: Collective intelligence should be considered as the collaboration of a group of people, who must be motivated, informed and coordinated to achieve an effective mobilization of their skills and knowledge for making better decisions.
• Redefinition of community-company relations: A methodology that can be implemented, by makesense, is to create communities in order to align purposes and visions in a company, generate engagement, support networks and activation of collaborators.
• Open innovation processes: work must be done to promote innovation to build business models for the future in collaboration with social enterprises.
• Need for equity and diversity: New ways of innovating must be implemented based on the recognition of the value of all people and collective empowerment.

3. Impact of CSR on employees

Social responsibility also encompasses collaboratorsTherefore, organizations must work on a policy based on causes and values ​​related to their staff.

“In addition, organizations will strategically use their CSR efforts as part of their hiring and promotion positioning to attract talent.”

4. Digitization of impact opportunities

One of the lessons that the pandemic left behind is that the virtual world allows maximizing the number of beneficiaries and massive access to impact programs, so it is recommended to replicate these lessons.

When programs based on the virtual environment are implemented, 65% of the participants carry out concrete actions with a positive and responsible impact on their environment, indicates makesense.

5. Impact investing

They are required to generate attractive profitability, as well as a positive and measurable social and environmental impact.

By working on this, companies will have greater competitiveness and image in the market, which will differentiate them from their competitors and allow them to grow better.

Knowing the current trends and conditioning them in the business will allow them to open up”new opportunities to design products and services that sustainably and responsibly meet the needs of consumers seeking a sustainable lifestyle”, concluded Diego Reyeros, co-founder of makesense Americas.