How BPO companies are retaining corporate social responsibility?by Alexis Powella Author
With the growth of various industrial sectors, the world seems to engulf the aspects of social notions with corporate slavery rate sky rocketing in the last two decades. Goliath companies and industries fail to realise the mental trauma of employees due to pressurised work-environment. These people are likely to lose their physical state of health and develop mental health problem like depression, hypertension, frustration, bi-polar disorder, etc. Moreover, this is also degrading the environmental standards and ethical norms.
Several companies have started determining the unfathomable aftermath of a forced corporate environment. This is the reason why corporate social responsibility also known as CSR has become a crucial fragment for gigantic as well as small companies’ strategies. According to the consumer studies, numerous companies are likely to partake in the CSR initiatives within a company to deliver work efficiency and embody better social and environmental operations. Studies conducted in the year 2015, by “Cone Communication/Ebiquity Global CSR Study” shows that about 9-10 percent of the customers want great profit for their businesses, but also maneuver the accountability toward social and environmental problems.
Highly economical industries such as BPO companies that are rooted in the cost efficient Asian countries like India and the Philippines have transformed their local economy at a significant rate. Every multi-national companies and international business entities prefer to outsource their non-core business process to these Asian countries due to cost-effective measures and high productivity standards. For instance, in India, the BPO industry epitomises 9.5 percent of the Gross Domestic Product and hires around 3.5 million candidates every alternative year. This is the why; there is a higher rate of placement in great BPO companies rather than other countries.
Here are few CSR aspects to retain social element by the corporate communities:
· Positive perspective: In the emerging economy of the world, big companies are initiating the positive aspects of corporate social responsibility. With the help of CSR, businesses are not only encouraging social effects locally but are also contributing generous outlook for the entire country. Providing jobs to almost every average candidate in the BPO industry is elevating communities to better lifestyle sustenance. On the other hand, these companies are also steering the wheel of a socially accountable business.
· Better business alignment: Commercial entities are engaging business operations and strategies with socially-accountable business practices. In the year 2000, the United Nations have launched a voluntary advantage known as Global Compact for the corporate bodies, in order to help them perform better business and also accompany ubiquitous principles on humans rights, labor facilities, protect the environment and practice anti-corruption methods.
· Integrating business principles: Regardless of the size of the company, more than 8000 companies are following the Ten Principles of Global Compact and participating in it to generate virtuous market results. The global compact is a benevolent approach to initiate the cooperative method of practicing responsible business method among top class corporative societies. And as a matter of fact, the BPO industry relatively is a gigantic corporative association in every developing country. Integrating business principles within the companies are helping employees generate results according to social terms and conditions as well as from a business point of view.
· Considerable social involvement: CSR can help companies accumulate and engage local workforce, societies, and clientele to develop efficient partnership amongst companies that effect the social environment. Development in the community and nondiscriminatory treatment toward staff can help improve retention and the quality of labor force that will directly impact the social environment. Several BPO companies can help the society by investing in educational programs, employment inclination etc. such as teaching language skills to the fresher’s.
The CSR approach practiced by several business process outsourcing companies are mobilising and increasing the employee responsibility toward local communities. Social engagements with communities give decision makers and employees the sense of perseverance and engagement with lower level of society to find a meaningful donation beyond profitability.
Created on Sep 1st 2017 00:20. Viewed 1,045 times.