A recent PRSA Tactics article by Aflac’s Chief Brand and Communications Officer, Catherine Hernandez-Blades, states that more than 93 percent of the world’s largest 250 companies will publish a corporate social responsibility report this coming year.
Whether the company chooses to highlight how it lowered their carbon footprint, fought for hunger relief, or ensured equal pay and workplace diversity, each company’s corporate character will shine through.
Consumers, partners and investors choose brands that ‘do good’. An Aflac survey even reports that 75 percent of consumers say they would take negative action towards companies who act irresponsibly. A report from the Reputation Institute explains that companies with higher corporate social responsibility are known to perform better in the stock market, experience improved stock price recovery post crisis, and yield more positive reviews and ratings.
Hernandez-Blades points out, “if we think about corporate character as a synonym for a brand’s reputation, then corporate social responsibility can translate into traits you might look for in a trusted friend.”
In 2017, Aflac increased its own support of childhood cancer, its primary philanthropic cause. Between creating The Washington Post’s Chasing Cancer Summit and sponsoring CureFest, their name stayed in national spotlight. CNBC and Washington Ideas Forum both identified Aflac’s great strides in corporate social responsibility. And, Aflac was named one of the “World’s Most Ethical Companies” by Ethisphere, for the 12th consecutive year. Hernandez-Blades said sales have increased since the campaign.
Corporate social responsibility has become an imperative part to all business plans and will continue to leave its mark on companies as the demands of today’s culture continue to grow.