CR issues in the FTSE 250

Sunday, April 30, 2006

CR issues in the FTSE 250

By Stuart Blake, Lucid Connections

When CR first emerged, few companies approached it in a strategic fashion. But a recent survey of FTSE 250 companies has revealed a great deal of progress in corporate attitudes and it's also revealed some of the practical issues facing professional communicators. Of respondents to the survey, 85 percent said corporate responsibility was "very important" or "critical" to their commercial success. Further results give some valuable insight:

· 62 percent cited "business sustainability" as a driver for CR in their company. This demonstrates that CR, if used correctly, helps a company to be better aware of its non-financial risks and trends.
· 52 percent of respondents listed "complying with legislation" as another key driver for CR. Despite a lack of clear CR legislation, there are many other laws, the most obvious being environmental, that companies have to abide by and would deem to fall under the term "CR."
· 59 percent of respondents cited the integration of CR into mainstream management processes as their most significant challenge. That this issue exists is a clear example of how CR has progressed. Previously, CR may have been on the job-list for the "honesty department at head office." Now, CR is the job for everyone in the business.
· 43 percent cited CR as a motivation for attracting and retaining the best staff. This shows that CR has the potential to inspire and, if an organization works with rather than against the prevailing ways of doing things, CR can become a factor in every business decision.
· 81 percent said NGOs were the most difficult stakeholder group to engage with. Given the scope and diversity of NGOs, effective communication can be especially complicated, thus leading to problems. There are often different needs, different expectations, and very different agendas.

Excerpted from, The changing role of CR: A strategic opportunity in the current issue of Corporate Responsibility Management.

Blogged on 5:39 AM by Upay

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