You may have heard the acronym “CSR” on the lips of every corporate leader lately. But what is it exactly, and how does it relate to the trucking industry?
CSR stands for corporate social responsibility. It’s a management concept focusing on the integration of social and environmental concerns in business operations. Employing CSR strategies can help companies demonstrate their social focus while improving business by pleasing customers and employees.
Why should freight carriers create a CSR plan? Here’s an example:
- Fleets primarily use fossil fuels to power their vehicles, which represents a significant operational cost.
- Strategies to consolidate loads and use cleaner fuels can lead to a more efficient transportation network and reduce dollars spent on fuel.
- In turn, more efficient freight transportation can help improve air quality and mitigate climate change by cutting emissions.
But CSR isn’t just about the environment. It’s about supporting communities and advocating for lasting change. Check out Shelba Johnson Trucking’s CSR page. The fleet outlines its environmental efforts, but it also details its safety program, charitable contributions and security measures.
Having a page on your website is just one way to highlight your fleet’s CSR policy. Many companies also issue annual CSR reports, much as they would an earnings report. In fact, an estimated 90% of companies on the S&P 500 index published a CSR report in 2019, compared to just 20% in 2011.
The bottom line: People want to work for and do business with ethical companies. Here are some eye-opening stats:
- A majority of American consumers believe it’s important for companies to take a stand on key social, environmental and political issues
- 73% of investors state that efforts to improve the environment and society contribute to their investment decisions
- 93% of employees believe companies must lead with purpose
- 95% of employees believe businesses should benefit all stakeholders — not just shareholders — including employees, customers, suppliers and communities they operate within
- 90% of employees who work at companies with a strong purpose say they’re more inspirated, motivated and loyal
For fleets, focusing on company culture can help you attract employees, gain favor in the eyes of investors and consumers, and even improve your bottom line. See the links below for resources to get your fleet’s CSR plan up and running.