The collective labour agreement as a key tool for driving corporate social responsibility: banking sector analysis

Abstract

In this paper we focus on the role of the human resources department, specifically in the area of labour relations, analysing how collective bargaining and collective agreement can be key mechanisms for the development of corporate social responsibility (CSR) through the incorporation of CSR practices that can currently be found in different instruments and documents of organizations (i.e., equality plans, codes of conduct, annual reports, etc.), but not in collective labour agreements. Results are shown for Santander Bank (SB) and Bilbao Vizcaya Argentaria Bank (BBVA) because they are two of the main players in the Spanish financial sector. The results indicate that both groups are involved with the development of CSR policies; however, these practises are not spelled out in their collective agreements. It is argued that a CSR policy could be an incentive that would allow firms to attract, retain, and motivate their employees and gain a source of competitive differentiation thanks to the binding force of the collective agreement.