| Pub. Date | : June' 2023 |
|---|---|
| Product Name | : The IUP Journal of Business Strategy |
| Product Type | : Article |
| Product Code | : IJBS020623 |
| Author Name | : Esrafil Ali and Biswajit Satpathy |
| Availability | : YES |
| Subject/Domain | : Strategic Journals |
| Download Format | : PDF Format |
| No. of Pages | : 17 |
Corporate Social Responsibility (CSR) has become an important part of an organization's strategy, not just in marketing, but in talent attraction too. Individuals tend to be more attracted to organizations known for CSR. The relationship between CSR and talent attraction has been widely investigated. Past studies have indicated that an organization's CSR values can have a positive impact on talent attraction. However, little attention has been paid to the role of CSR as a strategy to attract talented employees. This study examines whether CSR plays a vital role in attracting talent in the organization. An empirical study was conducted in selected companies of Sambalpur district, Odisha, by collecting data from senior managers. A five-point Likert scale was used in the questionnaire to seek their perceptions. Also, an open-ended questionnaire was used to gather their comprehensive views. Mixed method was used for data analysis, and quantitative analysis was done using regression model to establish the relationship. Further, MAXQDA software was used to analyze the qualitative responses. The results confirm that strategic CSR plays a key role in talent attraction.
Corporate Social Responsibility (CSR) is about giving back to the society. CSR of a company is not restricted to social activities but has now aligned with business strategies. Today, companies are using CSR as a competitive advantage to attract and retain best talent. Various studies in the past have shown how companies are developing their HR strategies to recruit best employees. A strong CSR with positive motives contributes to a company's brand building and helps to retain good employees for a longer period of time. At the same time, such organizations also become an attractive place to work for prospective candidates. Other studies have found that CSR can be used as an important strategy to attract talented individuals to their organizations. In fact, individuals appear to prefer to work in organizations with socially valued culture. A survey conducted by Mckinsey found that talent will be one of the inevitable corporate resources in the next two decades. Talent is the only factor that promotes productivity, innovation, research and development. This results in sustainable business practices. The main concern of corporate leaders is to attract talent to organizations for increased productivity and business growth.