CHALLENGES AND APPROACHES FOR THE CORPORATE SOCIAL RESPONSIBILITY AND HUMAN RESOURCE MANAGEMENT IN THE FINANCIAL SECTOR
CHALLENGES AND APPROACHES FOR THE CORPORATE SOCIAL RESPONSIBILITY AND HUMAN RESOURCE MANAGEMENT IN THE FINANCIAL SECTOR

Summary/Abstract: Many companies, under pressure from consumers and financial market’s actors, initiate and promote social responsibility programs aimed at protecting the environment, respect for labor standards and human rights and fight against corruption. On the one hand, some companies are pursuing active involvement of employees in these programs, and on the other hand, in some cases, CSR programs targeting even company employees – an important class of stakeholders. The relation between CSR and HRM started to be increasingly researched in the near past. As the CSR practices became more and more important to each company’s stakeholders, the HR professionals play a key role in identifying the right employees to help increase the CSR performance. CSR may be used as a tool for HR practitioners to promote the achievement of the businesses sustainability and therefore developing the social and environmental conditions. Global companies became more and more interested in CSR as the sustainable development is taking place of the old ways of doing business. The core of CSR tackles problems like human rights, labour and employment practices, health care and environment. HR is in the middle of this system directing and educating the company regarding the CSR. This article focuses on the relation of CSR and HRM in financial sector, where the employees are the main asset of the company. If the CSR efforts are not supported by the HR engagement, all becomes a PR exercise.

• Details
• Contents