Love Local Jobs founder says CSR reporting could boost youth employment
This means, that as well as reporting their financial situation, PLCs will be obliged to provide information on their CSR policies and activities.
While the law will initially only compel larger companies to file CSR reports, there will inevitably be a knock-on effect resulting in increasing pressure for organisations of all sizes to demonstrate how they are fulfilling their social responsibilities.
Gary Peters, Founder of LoveLocalJobs.com, argues that CSR should be an integral part of any organisation, regardless of size or legal obligation. “Businesses that invest time and money in CSR will reap the benefits,” he said. “People trust a company more if it is socially responsible and if you are trusted, you will attract customers and investors. Businesses that have a healthy triple bottom line of people, planet, profit are becoming more and more sought-after, and environmental and social responsibility will be increasingly considered as tangible and valuable assets by potential investors.”
So how can businesses become more socially responsible? Mr Peters says that CSR is not simply about making charitable donations, but should be part of the fabric of an organisation. “It’s the way your business operates, your goals, your strategies for achieving them, your policies, but most of all, your people,” he said.
“One of the most effective ways to operate in a socially responsible way is provide opportunities for local people, particularly young people. Youth unemployment is a huge problem and there is a generation of young people who are disengaged from working life because they haven’t had the right opportunities," said Mr Peters.
“I believe that the solution to youth unemployment lies with local businesses. We need to provide work experience, placements and apprenticeships so that young people can learn essential skills and develop a work ethic that will help them find a rewarding career. Businesses that make a commitment to helping young people by implementing a work placement programme are not only fulfilling their social responsibilities, but are potentially also recruiting their future workforce,” concluded Mr Peters.
LoveLocalJobs.com focuses on promoting local jobs and boosting youth employment. The organisation forms partnerships with employers, schools and colleges to create pathways between education and the workplace and can work with other organisations to set up work placement programmes for young people in the community.