(MENAFN- Khaleej Times) Research has suggested that corporate social responsibility has become increasingly more important in the region, with four out of five companies in the region adopting policies to give back to the community.
The information comes out of a study from Mercer's Corporate Social Responsibility (CSR) and Sustainability Programmes, Policies and Practices Survey carried out in the Middle East and Turkey.
In the Middle East, 41 companies (both multi-national and large local companies) contributed with the highest participation rates in the UAE, Saudi Arabia, and Turkey.
Experts suggested that one of the reasons why CSR has become increasingly important was because the younger generations were showing increased interest in social service and related activities.
The results showed that 72 per cent and 83 per cent of companies worldwide and in the region, respectively, indicated that CSR has become more important in the past two years, with 78 per cent of companies in the Middle East employing a CSR policy. In fact, 86 per cent of companies in the Middle East rated it as a very important or important component of business strategy.
Cameron Hannah, Mercer senior partner and market leader, India, Middle East, Turkey and Africa, said: "We found 41per cent of participants indicated that CSR is reported directly to the CEO, which demonstrates the importance of CSR as an emerging business issue."
A key finding of the survey was the importance of longer-term, sustainable initiatives for companies. Cindy Arkin, Mercer regional corporate social responsibility and marketing, India, Middle East, Turkey and Africa said: "The younger generation are showing more socially responsible behaviour and they actively participate in conservation activities. These youngsters are future candidates and employees."
In the Middle East, 82 per cent of people indicated employee health and wellness was the core area for CSR/Sustainability initiatives, followed by community-based development (74 per cent) and environmental affairs (68 per cent).
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