When it comes to corporate philanthropy, helping others can also help your business.
When you host a charity drive, donate to a local cause, or launch an employee-sponsored volunteer program, your efforts produce a ripple effect — one that extends beyond your company into your community in several ways.
Motivate Your Employees
Employees don’t just want to do well at their jobs — they also want to be proud of where they work. A 2017 Deloitte study found that employer-sponsored volunteer programs can boost morale, improve workplace culture and increase employee well-being. Of those surveyed, 89 percent felt that companies who sponsor volunteer activities offer a better overall working environment than those who do not — a factor that may help support recruiting efforts.
Build Your Connections
Philanthropy also can be a powerful tool for networking. Charity events are great places to connect with others who care about making your local community better. When you get involved in philanthropy, you may meet local leaders, who will learn about your business on a more personal level. Expanding your network may help you earn a referral, gain a valuable customer, or build a partnership with other businesses or individuals.
Humanize Your Brand
Showcasing employer-sponsored volunteer efforts is a powerful way to humanize your brand and build a connection with your audience. Get your employees talking about a cause they’re passionate about and why it matters to them. Share your stories on social media or on your website to help humanize your brand. Research shows that consumers want to spend their money with companies that have a reputation for doing good. A 2017 Cone Communications study found that 87% of respondents will buy a product because a company supports an issue they care about. Highlighting your positive initiatives can demonstrate that your company is one that conscientious consumers will be comfortable doing business with.
If you need a starting point for your philanthropy, talk to your employees and customers about their passions and concerns, and follow the local news to learn about causes in your area. Giving back to your community helps remind your employees and your customers that your business is committed to improving their well-being.
Read more about the big picture trends you should be watching to help your business grow and thrive.
