What Comes Around Goes Around

One of my husband’s favorite television shows is My Name is Earl.  Earl’s new found belief in karma is the backdrop of the show in which Earl tries to set right everything bad he’s done in hopes that by doing good, good will come to him.  While the show is fun and entertaining, I think it makes a good point.  Call it whatever you want—karma, the spirit of the universe, God— I have to agree with Earl.  When we honestly do as much good as we can, it not only benefits those we serve, but the good comes back to us ten fold.  And this rings true in every aspect of our lives, both personally and in business.

So this brings me to my question, why isn’t every company in the world grabbing social responsibility by the horns and incorporating it into their core business model? In Don’t Underestimate Power of Social Responsibility Lisa Hickey asserts that the common phrase, “what goes around comes around” is especially true in business.  She states, “There is a perfect correlation between socially responsible companies and economically viable companies.” 

In The Business Benefits of Corporate Social Responsibility several benefits to business are discussed such as building a reputation as a responsible business sets you apart, customers are rewarding responsible companies, and reducing waste and emissions saves money.  Additional benefits addressed in the article are as follows:

• A good reputation makes it easier to recruit employees.
• Employees stay longer, reducing the costs and disruption of recruitment and retraining.
• Employees are better motivated and more productive.
• CSR helps ensure you comply with regulatory requirements.
• Activities such as involvement with the local community are ideal opportunities to generate positive press coverage.
• Good relationships with local authorities make doing business easier.
• Understanding the wider impact of your business can help you think up profitable new products and services.
• CSR can make you more competitive and reduces the risk of sudden damage to your reputation (and sales). Investors recognize this and are more willing to finance you.

 

Corporate Social Responsibility also describes six driving factors for CSR: (1) the shrinking role of government, (2) demands for greater disclosure, (3) increased customer interest, (4) growing investor pressure, (5) competitive labor markets, and (6) supplier relations.

Will Marré, acclaimed CSR speaker and advocate, is a passionate voice for the benefits of social responsibility.  In Will Marre, Leadership Expert, on How Green Business Is the New Revolution of Business Strategy he’s quoted, “When you combine the triple bottom line of people, planet, and profit, the new sources of value and points of differentiation you uncover yields topline growth, fiercely loyal customers, and committed internal and external talent.”  Marré takes it a step further asserting that when CSR is incorporated into the business model it creates the greatest economic opportunity in the history of the world.   He states in Social Enterprise: How to Save the World and Grow Your Business at the Same Time, “Every problem is an opportunity. In the next decades we will have to re-invent every product we use to be ecologically friendly, energy efficient and recyclable. Just the opportunity to change all the light bulbs in the world has a mind-boggling upside.  The opportunities to lift billions of people from poverty, educate billions to live in the 21st century and unlock the keys to sustainable living and sustainable relationships are endless.”    

So, I return to my question: Why isn’t every company in the world embracing their social responsibilities when there is nothing to lose and everything to gain?  Doing good is a virtuous cycle that positively influences everyone and everything it touches.  So let’s take our cues from Earl, and even if our reason for doing good is so that good will come to us, we’ll make the world a better place.