CSI SOCIAL IMPACT
BY JESSIE TAYLOR
SOCIAL RESPONSIBILITY: The importance of giving during a global pandemic
D
espite a year of unprecedented economic changes due to the global pandemic, which has in turn seen a sharp decline in national employment numbers, South African businesses have stepped in to support civil society. The amount local businesses put towards Corporate Social Investment (CSI) in 2020 increased, despite the economic downturn. Many businesses stepped up in response to Covid-19, offering relief through donations to government programmes and community outreach initiatives. CSI, making business sense CSI is built on a growing trend in business to put people before profits but contributing time and resources to uplift communities and invest in environmental or
economic causes. CSI projects embody a commitment to respond to the socio-economic needs of our society. This commitment has seen the business community, from large corporations to sole traders, increasingly dedicating money or resources to improve the nation with no direct financial benefit to the company - as well as contributing to the betterment of society, CSI initiatives are good for business. Just some of the reasons why CSI is vital for a company, is because it generates positive publicity, which in turn can attract new customers, as well as boosting employee morale. For many employees, pay and benefit are just part of the reasons they choose to join and stay with
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a company. A growing number of employees are looking to work for companies that match their values, and CSI projects are an ideal way to reflect the company’s value system. This is evident in the number of start-ups that weave social impact messaging into their brand, ensuring that social responsibility is a part of their brand from day one. However, aside from ensuring your company retains talent, CSI projects make business sense. CSI has become so commonplace in the business world that many companies are taking on initiatives simply to stay on par with their competitors. Most CEOs know that CSI brings benefits such as tax breaks, increased BEE points, improved business reputation, reduction of
