Unlocking the Social Factor in ESG: A 5-Step Guide for Businesses

The COVID-19 pandemic has led to significant shifts in work and lifestyle practices, shining a light on pre-existing social issues and emphasising the importance of social factors in today's business landscape, including the adoption of ESG. Businesses must now recognise their responsibility to use their resources, expertise, and time innovatively, sustainably, and effectively to make a positive impact on society beyond just generating profit.

Incorporating the social aspect of #esg the #sustainabledevelopmentgoals(SDGs) and #corporatesocialresponsibility (CSR) can bring numerous benefits to businesses. By engaging in charitable activities and supporting local organisations, companies can establish themselves as responsible corporate citizens, leading to improved brand reputation. Socially responsible businesses are also more likely to attract and retain diverse talent, increase customer loyalty, and attract a wider pool of investors. Additionally, engaged employees are more likely to feel fulfilled and motivated at work, leading to increased productivity and retention. Overall, addressing the social in ESG can lead to a more successful and sustainable business in the long run.

If you are a business interested in embarking on a journey of #communityengagement or need a refresh, here are some crucial tips to keep in mind:

1. Begin with alignment: It is crucial to establish mutual values when forming partnerships with charitable organisations. This is a strong foundation to initiate your activities.
2. Discover hidden gems: Explore both popular and lesser-known charitable organisations to support and identify where you can add value locally that resonates with your employees.
3. Consider the social issues: Take the time to identify the social issues that are most relevant to your business and its stakeholders.
4. Build mutually beneficial partnerships: Seek out opportunities and activities that create value for both your business and the charitable organisation.
5. Establish realistic expectations: To ensure mutual understanding and better delivery on purpose and impact, set clear expectations and establish a memorandum of understanding from the outset.

Get Synergised specialises in unlocking the social aspect of ESG and supports businesses in achieving their ESG goals through a #strategic three-step process:

Step 1 - Discovery Phase - This involves analysing your business values, assets, and mission, as well as conducting focus groups with employees to gain insight. Through this process, suitable social causes to support will be identified, as well as key activities that can create the most impact.

Step 2 - Strategic Phase - After the Discovery Phase, Stage 2 begins and involves hands-on support to develop an action plan and strategy based on your unique Corporate Social Responsibility goals, Sustainable Development Goals, and ESG. This involves following a 7-point roadmap to create mutually beneficial partnerships and align values, competencies, and goals with impactful charitable giving.

Step 3 - Implementation Phase - To ensure the successful implementation of the strategy our ongoing support includes assistance with brokerage, employee engagement, and partnership management and monitoring. This stage is where the real impact is achieved, and our expert guidance and support ensure sustainable success for your social responsibility efforts.

Our focus is on community engagement, where we help businesses foster charitable partnerships and address social issues that positively impact not just the community, but also their businesses and society as a whole. 

Discover how we can help your business unlock the social component of ESG and drive sustainable growth. Visit our website today to learn how we're partnering with businesses across Cambridgeshire to create positive social impact and how we can help you. 

https://www.getsynergised.com/for-business