The concept of
corporate social responsibility is all about the welfare of society wherein
employees come first and the public at large second.
Funding a
school, a hospital or a charity organization from the corporate fund is an noble
cause, provided the donor organization has taken good care of its workers,
ensuring proper workplace ventilation, daycare center for female workers’
children, safety measures, first aid, etc. Charity is useless if an industry is
dumping its untreated waste in the water channels. The harms of pollution are
always by far greater as well as long-lasting than the short-term benefits of
charities.
Looking
after the welfare of the workers makes economic sense. A study of
corporate enterprises reveals that socially responsible companies are still
managing to survive while those shying away from social responsibility are in
trouble. Workers tend to stay longer and loyal to their organization.
These
workers are more productive not only because of sincerity to the organization
but also because of the experience they gain during they prolonged association
with the organization.
Modern day
industries need quality human resource. The quality human resource prefers
enterprises that provide them with the comfort of stable and secure job, clean
working environment, and social benefits like fair price shops, health coverage
etc. Genuine philanthropists are good and responsible corporate citizen.
They
contribute resources to the community and try to improve the lives of all.
Those, who contribute resources for outsiders (community at large) but ignore
those who are associated with them, are ungenuine altruists.
Ethics
demands that corporate sector should consider it an obligation to do what is
right, just, and fair.
They should
avoid causing harm to the society and obey the law under which they are
expected to pay minimum wages and do not discriminate them on the basis of
cast, creed, religion or gender. It’s not to suggest the commercial
organizations compromise their commercial aims. They should strive to maximize
profits. It is a common misapprehension among entrepreneurs that socially
compliant companies become noncompetitive due to welfare expenditures.
Yet a look
at the corporate sector of Pakistan reveals that every socially compliant
company in Pakistan has weathered the storms comfortably. They never stopped
growing even in worst of recessions. This is because they attracted the best
talent on the strength of their reputation.
These
companies not only include multinationals but domestic concerns as well. The
best talent helped the produce the best quality products. They earned more on
the strength of their quality and efficient marketing.
The
non-compliant concerns simply drag on during high growth and go sick at the
first sign of recession. Even the exporting industries that closed down
during recession were mostly not socially complaint.
These
industries did not have pleasant working environments; they lacked water
treatment plants and naturally had an inferior workforce than the complaint
industries.
This does
not imply the socially responsibility ensures viability of commercial projects;
however, it is one factor that enables the company to absorb pressure as the
human resource in such companies is more faithful and responsible than in
non-compliant companies.
It is
worth noting that socially irresponsible companies invariably are also
tax-evaders, under-filers, and cause of heartburning among the employees, who
consider their employers as exploiters and have no sympathy for them.
It,
therefore, is in the interest of the economy that the economic regulators
ensure minimum social compliance and don’t compromise on minimum wage, healthy
working conditions, and worker-friendly environment.
Looking in
our region we find Bangladesh has made huge provisions for discounted food to
ensure the workforce and their families get proper nutrition.
All
creditable studies have proved that productivity is linked to quality of
nutrition. Quality nutrition is not available to ordinary workers in Pakistan
due to high food inflation. Entrepreneurs would be ensuring long-term
productivity growth if they look after this basic need of their workers now.
-The News
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