BLOG: How does supporting CSR benefit business?

Dr Nik Kotecha OBE, Chief Executive of Morningside Pharmaceuticals

A blog by Morningside Pharmaceuticals’ Chief Executive Dr Nik Kotecha OBE looking at how supporting charities benefits businesses and their employees.

Since the inception of Morningside Pharmaceuticals in the 1990s, we have always had a keen focus on supporting a wide range of local, national and international charities.

This has become part of the company’s identity and connects well with our mission, which is “making quality healthcare an affordable and accessible reality throughout the world.”

Our support includes giving to sport, education, health and the community. One example of this is our named sponsorship of the Morningside Arena, Leicester, where we are able to gift fundraising space to charities for free as part of our partnership.

The benefits to Morningside and other businesses of investing in CSR are clear. But it wasn’t until I undertook a large amount of research into the Voluntary and Charity sectors, when founding the Randal Charitable Foundation, that I fully understood how charity/ private sector partnerships are a win-win.

So how does supporting charities benefit businesses and their employees?

Charities and the Voluntary Sector have a key role to play in helping businesses become good corporate citizens. By working with charities, businesses are able to give back, which in turn builds recognition and awareness amongst your customers and the wider community in your brand, your activities, your products and your people.

For a pharmaceutical business like Morningside, we are proud of the absolute quality of our products, so supporting good causes fits well with our corporate ethos and desire to bring communities together and improve the quality of life of the people living there.

Supporting charities also chimes with people’s values which acts as a motivating factor for a company’s employees. Your people are your greatest asset and get a lot out of supporting charities. This makes them feel good about themselves because they are making a positive contribution to society and the wider-world.

Another key area where charities add real value is recruitment of talent. People become aware of a business’ charitable activities and see those businesses as great places to work. This is particularly important in the East Midlands where there is a well publicised skills shortage, particularly in high level manufacturing.

Working with charities also involves people in a ‘common cause’ which is great for team building and bringing your people together under a shared mission. Much of the time charitable fundraising in the workplace can be a lot of fun, just look at the impact of Comic Relief! It also provides a means for colleagues to socialise between departments outside of their day to day working environments.

The Randal Charitable Foundation was founded in 2017 and is dedicated to saving lives, helping the socially disadvantaged and improving the quality of life for those in need, in the UK and around the world.

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