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What is Corporate Social Responsibility?
Corporate Social Responsibility (CSR) is the recognition that an organization is inextricably intertwined with society and the earth and must take responsibility for its actions in regard to the "triple bottom line" of people, planet, and profit. Not only do responsible approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid strategic plan, embedded into the business culture, which recognizes the importance of CSR will help to build a sustainable and profitable future for all.
Although, Versant Technologies is predominantly engaged in end-to-end system integration, Versant Technologies has also taken up activities for the development of the region, which, to a great extent, fulfills Versant Technologies Corporate Social Responsibility.
As a global organization, we will look for global strategies that have local relevance.
Versant Technologies has been contributing for various charitable causes like support to orphanages, mentally ill and abandoned women etc. as activities under Corporate Social Responsibility. Some of the activities in which VERSANT has been involved in recent times are:
However, the challenges in India are enormous. Social responsibility should not be limited to large successful corporations; there should be greater participation from most small, medium, and large businesses. The goodwill that firms can generate from acts of social responsibility may, in fact, be worth far more to the businesses than the amounts they give. Corporations collectively can make India a better place to live.
Corporate social responsibility is about tradition and culture. Firms can institutionalize voluntarism among employees through appropriate incentives and recognition. Internal performance evaluation of employees could recognize community work. Community work can be of many forms: teaching in government schools, supporting NGOs financially, empowering women, cleaning parks, planting trees, volunteering in orphanages, protecting the abused. Many corporations in America allow employees to write about their community service as part of their annual evaluation report. Even if companies do not reward community activities, at least, the idea that the company cares will have a positive impact.
Moreover, 'doing the right thing' and investing back into the community can turn into a major recruiting tool too. Employees now hold their companies to high standards and want to be proud of the company they work for. They expect employers to rise above the obsession with the bottom line by operating in the interests of everyone. Hence, an altruistic image sans dirty scandals can drive job choices and become a competitive determining factor when it comes to a toss-up between two or more companies. As Dave Pace, executive vice-president at Starbucks says, "Social responsibility is a terrific recruiting and retention tool. These days, people want to work for an organization that stands for something beyond profitability. Not just one that's successful."
The initiative is the brainchild of Versant Technologies team and is supported wholeheartedly by Versant Technologies CEO, Naidu Darapaneni, "The project is proving very successful and we are delighted with the way our employees have enthusiastically embraced the idea. These children don't have much and it takes very little to make a difference in their lives, whether that is with small gifts or actually spending time with them".
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