Mrs. Mrinal Sanjay Rao, Mr. Masarrat Raj
Assistant ProfessorStudent of PGDM (Finance)
Sinhgad Institute of Business Administration and Research, Kondhwa (Bk), Pune.
Today when competition has reached its peak, anything that gives competitive advantage is a matter of concern for the corporations. In such a situation, when businesses have realized that they owe something back to the society and nature, corporate social responsibility (CSR) has become a priority on the agenda of the corporations. Giving back to the society and conserving the natural resources for a better future leads to the sustainable development in and around the areas where the businesses exist and operate. The global information exchange has certainly contributed to the awareness about ethics and social responsibility. The generation Y is more aware about the social responsibility and is seen engaged in various such initiatives since their college days, not only doing charity in terms of money but much more. This grooming certainly will lead to socially responsible behaviour as employees and also as citizens. It also has an impact on their choosing of an employer who is known for its socially responsible behaviour and their further engagement and involvement in various CSR initiatives taken up by the organizations.
This paper is an attempt to find if there is a co- relation between the awareness of CSR in the younger generation and their willingness to work in socially responsible organizations. The study also tries to find out the level of preference given by younger generation to the reputation of companies for being socially responsible. The researcher relies on primary data and statistical analysis for presenting the findings.
[Keywords:- Corporate Social Responsibility, young generation, socially responsible behaviour, sustainable development initiatives, employers’ reputation]
Business houses, right from the inception of human race, have been regarded as constructive partners in the communities in which they operate. Though they have been instrumental in creating employment, wealth, products and services, yet the pressure on business to play a role in social issues involving employees, stakeholders, society, environment, government etc. is continuously increasing. The society is questioning the existence of business houses, especially in the wake of the scandals and scams conducted by the business houses like UTI, Enron, and WorldCom. In response to it, the organizations around the globe are forced to wake up to the need for being committed towards Corporate Social Responsibility. Over the years this concept of Corporate Social Responsibility (CSR) has gained unprecedented momentum in business and public debate and has become a strategic issue crossing the departmental boundaries, and affecting the way in which a company does business. It has become so important that many organizations have rebranded their core values to include social responsibility. Almost all corporate websites/ policies/reports talk about their endeavors for CSR which has become a way of ensuring that the organization is fulfilling all the obligations towards society and thus is eligible for the license to operate. It assures that the organization can grow on sustainable basis.
These activities of CSR ranging from small donations to bigger projects for social welfare sustainable practices differ from organization to organization depending on the resources available to an organization for undertaking sustainable practices. Business practices of big and successful companies, with plenty of resources at their end, have set the trend for being committed to sustainable practices. Such business houses around the globe show their commitment to social responsibility.
As competition in the labour market has intensified, companies have shown an...