Employee-Centered CSR in Driving Business Resilience

Abstract

Objective - The COVID-19 worldwide pandemic disrupted our lives with unprecedented predicaments. Obtaining external sources for most business entities to sail through these challenges is extremely challenging. Research has documented that organizational resources could be strategically managed to thrive and foster organizational resilience. (Low, 2023) and (Jordão et al., 2023) have unanimously agreed that human capital is the fundamental building block of organizational resilience. Methodology/Technique – This study explores the potential of employee-centered CSR in driving business resilience in times of crisis. Additionally, workplace well-being was tested for its mediator roles in augmenting the interrelationship between employee-centered CSR and business resilience. A quantitative approach was utilized with a self-administered questionnaire distributed to the fully employed employees during and after the post-COVID-19 period to reflect this study's research objective. Finding – The responses were tested by structural equation modeling (SEM) and revealed that employee-centered CSR is significant and positively related to business resilience. Workplace well-being also significantly mediated the relationship. The finding inspires that business entity can strategically reallocate their internal resources, particularly human capital, for Mathew effects. Novelty – Apart from organizational resilience, implementing employee-centered CSR acts as the protagonist of a business organization to attract and retain talented employees. Type of Paper: Empirical JEL Classification: M14, M19. Keywords: Organizational Resources, Organizational Resilience, Employee-Centered CSR, Workplace Well-Being, SEM, Human Capital Reference to this paper should be referred to as follows: Low, M.P; Seah, C.S; Khin, A.A; Pok, W.F. (2023). Employee-Centered CSR in Driving Business Resilience, GATR-Global J. Bus. Soc. Sci. Review, 11(3), 56–65. https://doi.org/10.35609/gjbssr.2023.11.3(2)