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The CSR Awards concept in Cyprus

The CSR Awards concept in Cyprus. Lena Panayiotou, Senior Industrial Relations & Social Policy Officer. Corporate Social Responsibility (CSR). Evolution of CSR Voluntary nature Impact on shareholders, investors, environment, employees, community, civil society Long term investment

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The CSR Awards concept in Cyprus

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  1. The CSR Awards concept in Cyprus Lena Panayiotou, Senior Industrial Relations & Social Policy Officer

  2. Corporate Social Responsibility (CSR) • Evolution of CSR • Voluntary nature • Impact on shareholders, investors, environment, employees, community, civil society • Long term investment • Culturally specific • Benefits…

  3. Company benefits • Improved financial performance; • Lower operating costs; • Enhanced brand image and reputation; • Increased sales and customer loyalty; • Greater productivity and quality; • More ability to attract and retain employees; • Reduced regulatory oversight; • Access to capital; • Workforce diversity; • Product safety and decreased liability.

  4. Benefits to the community and the general public: • Charitable contributions; • Employee volunteer programmes; • Corporate involvement in community education, employment and homelessness programmes; • Product safety and quality.

  5. Environmental benefits • Greater material recyclability; • Better product durability and functionality; • Greater use of renewable resources; • Integration of environmental management tools into business plans, including life-cycle assessment and costing, environmental management standards, and eco-labelling.

  6. Awareness raising • OEB’s involvement in CSR issues from an early stage • Organisation of seminars and conferences • OEB carried out first survey amongst businesses about CSR • First ever publication: Guide on CSR for Employers

  7. Key findings of survey • 83% of respondents knew the meaning of CSR and 70% believed that their Company / Organisation had integrated partially or largely CSR practices. • The majority of Cypriot Companies/Organisations, support community primarily through charity, providing grants, blood donations, promoting volunteerism etc. …

  8. … • Cypriot companies apply CSR practices mostly in the areas of human resources, society and environment. • 40% of Cypriot Companies / Organisations modelled ISO • In the sphere of human resources, Cypriot Companies / Organisations promote flexible forms of employment, balancing work and personal life, assessment and training of personnel, benefits beyond the legal rights of employees, employment of people with disabilities, gender equality.

  9. The OEB Social Excellence Awards • Aimed at companies that promote equal opportunities between men and women as well as apply practices that promote work – life balance • Criteria: • Range of Measures • Impact of Measures • Innovation • Effectiveness • Sustainability • Care for special groups/ specific cases • Corporate culture • Independent evaluation committee

  10. The winners so far… 2007 • Cyprus Telecommunications Authority (Large companies): the “Flexible Working Hours”, the “Personal Working Hours”, the “Teleworking”, and enhanced “social services” and “social solidarity” are among the programmes which CYTA has implemented to reconcile family and professional life …

  11. … • Holiday Inn Limassol (SMEs): amongst the measures implemented were flexible working hours, seminars for male employees on gender equality, high female participation in all levels of the company. • Deloitte Ltd (Innovative Practices): The Award related to the company’s Work Life Balance programme, emanating from the Investors in People model.

  12. 2009 • Chr. A. Papaellinas & Co. Ltd (Large Companies) • Lois Builders Ltd (SMEs) • PricewaterhouseCoopers ‘PWC’ Ltd (Innovative Practices) • Flexible work schedule • Extension of maternity leave from 18 weeks to six months • Partial work from home with a subsidised Internet connection • Full subsidy of study fees • Compact 4-day work week • An annual survey of ways to improve the working environment. • Establishment of Gender Committee

  13. The European Experience • Austria:Companies that try to combine economic success with outstanding CSR practices are annually awarded the “Trigos” award. • Sweden:Swedish companies are confronted with CSR when they want to export or invest abroad. Export credits and state guarantees for foreign investments are provided only if companies sign an anti-corruption agreement.

  14. Italy:Sodalitas Social Award was launched during a Marathon event in 2003, with about 250 companies participating in the last years. The objectives are to provide visibility to innovative CSR best practices and stimulate emulation. Evaluation criteria of applications are based on the EFQM Excellence Model. • United Kingdom:Awards for Excellence are the most prestigious UK awards recognising companies for integrating responsible business practice into their mainstream operations.

  15. Good CSR practices… "A good company delivers excellentproducts and services, and agreat company does all that and strives to make the world a better place." William Ford Jr., Chairman, Ford Motor Co. Thank You!

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