The Confederation of British Industry has called on businesses to do more to show their impact on the local community.
Only two in five people in the UK believe that businesses are working to improve people’s lives locally, according to a new study by the CBI.
“There is a clear opportunity for businesses to amplify the good they do in their communities by creating jobs and supporting public service,” it said in a statement.
It comes as more people said they think that business reputation is good, four points up to 60 per cent in the most recent survey.
Nearly four fifths of those asked said they were less likely to buy from a company with a poor reputation, while three quarters would be less likely to work for one.
Josh Hardie, the deputy director general of the CBO said that schemes to give employees shares in the business and similar schemes is helping to improve public perception.
“There is no question that more can be done, as 70% of the public say they would want to work for a business with a good reputation, the benefits of demonstrating firms positive impact can affect everything from a company’s bottom line to the talent it attracts.
He highlighted companies such as Richer Sounds, BT, and Capita as those taking new initiatives to “ensure the UK’s prosperity is inclusive.”
Adam Wilson at Opinium, a collaborator on the survey, said: “In recent years we have seen the emergence of the ‘conscious consumer’. It’s almost a given that people want businesses to meet their expectations when it comes to their more tangible needs such as excellent customer service and good value for money.”