New report highlights that top businesses should engage more in local issues
Nearly half of the county’s businesses are not reporting any Corporate Social Responsibility (CSR) activities, according to findings from a new report – which means they are either not doing anything or not benefitting from any positive PR for doing so.
The Northamptonshire Limited report, compiled by financial and business advisors, Grant Thornton and the University of Northampton, is an in-depth, annual review of the top 100 privately owned businesses in Northamptonshire.
The report has this year widened its focus to investigate whether businesses in Northamptonshire are reporting any Corporate Social Responsibility (CSR) activities. Adrian Pryce, Senior Lecturer in Strategy and International Business at the University, investigated how many businesses within the top 100 are actively undertaking CSR activities and where this effort is focused.
Adrian Pryce, Senior Lecturer in Strategy and International Business who carried out the investigation, commented: “There appears to be an opportunity – as well as a growing need – for the county’s leading businesses to engage more with local issues and causes to ensure a healthy community in which to operate, recruit and sell. There are corporate as well community benefits from business taking a more strategic, focused and local approach to its CSR, the potential for which is not being fully captured.”
While half of companies are reporting CSR activities, 50% are not, which is potentially a missed opportunity for businesses to demonstrate their broader social impact. Research also showed that of the 50% of businesses who are reporting CSR, only a quarter focus on local issues. Again, this could be another missed opportunity for businesses to connect with their local community and attract and retain employees.
Mike Hughes, who leads the Advisory team at Grant Thornton’s Northampton office said: “Customers, employees and stakeholders are demanding strong credentials in this area. Businesses that demonstrate their commitment to progressing the environmental and social agenda will retain a competitive advantage, which is particularly important in the current challenging economic climate.”