Dubai Chamber: Prioritizing CSR Initatives Made Businesses Respond Better To The COVID-19 Crisis
A Dubai Chamber survey showed that giving importance to employee health, safety, and wellbeing helped the business community in responding maturely to the crisis and ensuring business continuity.
Businesses in Dubai that prioritized corporate social responsibility (CSR) initiatives have been able to better respond to the COVID-19 crisis, as per a recent study carried out by Dubai Chamber of Commerce and Industry’s Centre for Responsible Business.
The survey, conducted in May and June 2020, showed that giving importance and adhering to institutional guidelines on employee health, safety and wellbeing, has helped the business community in responding maturely to the crisis and ensuring business continuity.
This study is a follow up to an in-depth report recently published by Dubai Chamber, entitled Corporate Social Responsibility in Dubai: Current Practices, Challenges and Future Opportunities, which revealed that more businesses now consistently engage in CSR initiatives that suit and align with their business strategies.
Referring to recent CSR activities, respondents to the survey said they considered such efforts as an obligation or “the right thing to do” as opposed to viewing them as activities that help gain better reputation for the firm.
The study also showed that other factors such as digital preparedness, advanced IT infrastructure, and technically aware employees have helped Dubai businesses in ensuring a smooth transition to remote working structures. However, with restrictions on face-to-face meetings and events, many surveyed organizations have stated that they quickly shifted employee volunteering activities to digital platforms, to explore new ways of creating social impact and giving back to the community.
Over 70% of surveyed organizations reported that the board of directors are involved with CSR initiatives, while 68% of respondents reported advanced CSR practices with employee volunteering. Overall, 76% of responding Dubai companies were found to be engaged in CSR initiatives.
Findings in the comprehensive report show that “improving the community” was the top motivating factor behind CSR initiatives for 80% of companies, while “improve revenue” was the least motivational factor.