In these current times of economic doom and gloom companies are counting their every penny and trying to cut down costs left, right and centre. One consideration could quite arguably be to cut down on any CSR activities such as environmental commitments or charitable arrangements in an attempt to cut costs. Being socially responsible can come at a high price. This would then beg the question: Is it a bad time to be good?

In my opinion the current economic climate means that it’s more important than ever for organisations, small or large, to practice some kind of social responsibility. In a time where the very survival of organisations is under jeopardy, it’s essential for companies to set their brand apart from the competition, to create corporate awareness and to humanise their business policies.

Understandably this is a challenging undertaking if an organisation’s finances are scarce but engaging in CSR activities through these difficult times could prove invaluable in solidifying long term stability. The economic recession will not last forever and when it does end you don’t want to be the company that has compromised their brand values by showing a selfish corporate mentality through difficult social times.

The economic recession has had wider social implications which organisations must take heed of. Mistrust in big business and a growing negativity towards the impersonal, fiercely money orientated mindsets of some high profile organisations means that companies that offer a more socially responsible corporate vision will inevitably be seen in a more favourable light. In these times reputation is everything. Withdrawing from any CSR activities in the current climate could potentially terminally tarnish a company’s reputation and affect long term success.

So in answer to the question: Is it a bad time to be good?

It’s a worse time to be bad!