As the economy starts to heat up, so does the war for talent. Small-business owners will need to work to keep key employees who may be ready to seek other jobs as soon as they see opportunities. If you’re looking to keep women employees happy, one way to do so is to make sure your company is socially responsible.
In a recent study by the Simmons School of Management in Boston and HP, female employees who perceived their companies as socially responsible had higher job satisfaction, reported less intention of quitting, and were more likely to promote their employers to others in social settings.
“Recognizing the impact of [corporate social responsibility] is vital to the long-term success of businesses,” said Shuili Du, lead author of the study, Using Corporate Social Responsibility to Motivate and Retain Female Employees, and a professor at the Simmons School of Management. “The study results reinforce the notion that it’s in the best interest of organizations to understand and harness the power of corporate social responsibility – particularly during recent challenging economic times.”
Asked about their career goals, over 75 percent of respondents said “making a positive impact on society” and “expressing and acting in line with my values” were important. Respondents also said that when social responsibility is a core part of a company’s business strategy, it helps fulfill their personal career needs, including opportunities to develop their professional skills and expertise.
Developing skills and gaining experience are key issues for all employees in today’s economy. If you can offer female employees a chance to do so while also contributing to society, you’re ahead of the game in keeping them satisfied.
A recent CitiBank survey of small business owners found that most are not taking advantage of social media and online tools. However, it also showed that younger entrepreneurs (those under age 45) were more skilled at online marketing, giving them an advantage.
Here are some of the most notable survey results:
Why is Social Media Relevant to Your Business?
It’s time to start taking advantage of all the web has to offer. As a business owner, you have to go where your clients are. According to Google, Facebook is the most trafficked site in the world, with Twitter ranking #18 and LinkedIn coming in the top 100 at #56. Facebook alone has more than 400 million active users who spend over 500 billion minutes per month on the site. Twitter has over 100 million registered users and adds an average of 300,000 new users a day. Similarly, LinkedIn has over 70 million members with a new person joining every second. more…