A Sense of Belonging in a Corporate Environment : On how Millennials Understand and Relate to Corporate Social Responsibility

Abstract: This study investigates the correlation between Millennial workers' sense of belonging and a company’s Corporate Social Responsibility (CSR) initiatives. Bearing in mind the gap in academic research on the introspective impact CSR has on a company’s employees, this study aims to explore how the Millennial workers at one of the biggest banking and insurance companies operating in Bulgaria understand and relate to companies’ philanthropic endeavours. To do so, this paper has used a theoretical framework, which combines four pillars that interact with and amplify one another. Two of them are empirical and present CSR and the Millennials as a generation. The other two are theoretical with social identity theory (SIT), which explains the sense of belonging innate to the Millennials, and corporate citizenship and shareholder value theory, which represent the polar opposites of what CSR should be about. As such, the thesis probes the hypotheses that, on one hand, if a company engages in genuine CSR initiatives, this will lead to an increased sense of belonging from the Millennial employees. However, on the other hand, if the company engages in greenwashing instead, this will lead to a diminished sense of belonging in the target group.  The findings infer that the Millennial workers at the banking and insurance company have strong opinions favouring their company utilizing genuine CSR practices. In addition, the majority of them have shared that if the company started utilizing CSR as means of greenwashing, this would lead to their overall disappointment and a diminished sense of association with the employer. However, the data has also shown that there might be different reasons for why people are joining CSR initiatives. These findings were produced with the help of mixed-method research combining quantitative survey plus qualitative semi-structured individual and focus group interviews.