Corporate social responsibility (CSR) should be a top priority for large companies in Canada - and for those who don't measure up, the consequences can be dire, according to the results of a recent survey conducted by GlobeScan for Hewlett-Packard (Canada) Co.

Combined with the findings of GlobeScan's 2005 Corporate Social Responsibility Monitor, this research paints a compelling picture of Canadians' opinions about the role of companies in society, underscoring the importance of CSR for business success and positions Canada ahead of other countries in embracing CSR.

Most notably, the GlobeScan/HP Canada survey results showed Canadians are more inclined to do business with a company that demonstrates corporate social responsibility. A large majority (92 percent) of Canadians surveyed said the more socially and environmentally responsible a company is, the more likely they are to purchase their products or services. This attitude extends to employment as well: 91 percent of those surveyed prefer to work for a company that is socially and environmentally responsible - the more responsible it is, the stronger the drive to work for that company.

A vast majority of those surveyed, 93 percent, feel that CSR should be as important to companies as profit and shareholder value. But the survey also indicates that Canadians are less than impressed with the CSR performance of companies in this country. Half of those surveyed (50 percent) consider Canadian companies to be doing just average in the area of social and environmental responsibility in comparison to that of companies in other countries.

"This demonstrates what HP has long understood - the intrinsic link between doing the right thing and being successful," said Lynn Anderson, vice president of marketing, Enterprise, HP Canada. "CSR is now as much of an economic issue as it is one of good corporate citizenship. As corporations strive to gain a foothold in today's highly competitive market, they need to consider the impact CSR has on the bottom line."

The GlobeScan/HP Canada survey was conducted as a complement to GlobeScan's annual CSR Monitor. Through its research, GlobeScan has found that Canadians have very high expectations of companies' role in society, particularly for fulfilling responsibilities such as environmental protection, product health and safety, and fair treatment of employees. What's more, it has consistently found Canadians to be among the most demanding in the world of corporate social responsibility in their roles as consumers, employees and investors.

As consumers, Canadians are among the most likely in the world to have rewarded a company for being socially responsible, or conversely to have punished those that are not.

Forty percent of Canadians surveyed reported having punished a company in the last year by not purchasing their products or speaking critically about them because they felt those companies were not acting in a socially responsible manner. Canadians are also among the most demanding of companies regarding environmental protection. More than eight in ten (82%) Canadians hold companies completely responsible for not harming the environment.

CSR is not merely a concern for consumers and employees. It is also influencing investors. According to the study, one quarter of shareholders report having bought or sold shares because of a company's CSR performance, and over half view socially responsible companies as more profitable than irresponsible ones.

The GlobeScan/HP Canada survey of 1,506 Canadians was conducted from March 1 to 7, 2005.