4 reasons you need social impact communications to recruit top talent

Why your corporate social responsibility program needs an annual report and how it positions you as a top employer

As employees are quitting at unprecedented rates, employers actively seek new ways to recruit and retain top talent. To remain competitive during the Great Resignation, organizations must strategically communicate their social impact efforts through an annual report.

The numbers paint a challenging picture for employers

According to current federal BLS data, ​20 million ​​U.S. workers left their jobs between April and August 2021, up 60% over the prior year. There are 10.4 million unfilled job positions in the U.S. The Harvard Business Review says the bulk of those resignations were related to higher stress and burnout rates triggered by the pandemic. 

And the trend isn’t over. 48% of the working population in the United States is actively job searching, according to a recent Gallup survey. ResumeBuilder found that a few industries may struggle to retain employees more than others — large percentages of business and finance (24%), education (15%), and construction (15%) employees are preparing to resign from their current positions by the end of 2021.

Women are also considering leaving the workplace at unprecedented rates.  Lean In and McKinsey & Company found that 1 in 3 women have considered changing or leaving their jobs in the past year. Filling vacancies will hit businesses’ bottom line. Replacing highly-skilled employees will cost businesses on average 213% of their annual salary. 

In an economy where attracting and retaining engaged employees is increasingly demanding,  leveraging a social impact communication strategy can be the secret weapon for workforce competitiveness. 

The case for social impact communications

Corporate social responsibility (CSR), sometimes called corporate citizenship or social impact, is a business model that considers social, economic and environmental factors in addition to profit. A CSR program does good work in the community by investing in corporate grant-making, scholarship opportunities, sustainability initiatives, employee giving and volunteerism, and diversity, equity and inclusion. 

Businesses, large and small, that adopt a social impact communication strategy to articulate the value of their CSR program see an increase in:

• Brand value

• Business growth

• Innovation

• Return on capital

• Workforce competitiveness

Four reasons you should use a corporate social responsibility annual report to share your good works during the Great Resignation

A comprehensive social impact communications strategy always includes a CSR annual report. An annual report has the most significant potential to impact your recruitment and retention efforts while positioning your business as a top workplace. Designing a plan that shares your annual report and its content in integrated campaigns using social media and press releases can differentiate you from other employers. 

Here’s why you need a plan to share your CSR story during the Great Resignation:

1. Nearly nine-in-10 employees believe companies must positively impact society in addition to earning a profit.

2. 64% of Millennials won’t take a job if their employer doesn’t have a robust CSR program. Millennials will make up 75% of the workforce by 2025, according to Inc. 

3. Purpose-driven companies had 40% higher levels of workforce retention than their competitors, according to Deloitte Insights 2020 Global Marketing Trends Report.

4. 81% of companies anticipate an increase in employee activism, with an emphasis on environmental issues driven by climate change. 

In the future of work, where remote work will continue to be a mainstay, companies can build culture and instill loyalty by effectively communicating about their social impact programming. 

Creating a strategy for authentically communicating about CSR internally to employees and an external PR strategy is mandatory for companies that want to be considered a top employer.

Do you need help crafting an authentic CSR communication strategy? We would love to help. Let’s connect.