Paul Flick is the CEO of Premium Service Brands, a leader in home services franchise opportunities.
Businesses can be a force for good in the communities they serve. Donating to charity helps companies attract socially-responsible customers and raises awareness about important causes. Taking time to do good as a business can also boost employee morale and improve your company’s bottom line.
Corporations donated $21.08 billion in 2021, up 23.8% from 2020, according to the National Philanthropic Trust. Understanding the benefits of corporate philanthropy and learning strategic best practices can help your business add value to the communities it serves.
Enhance Public Image
Volunteering at a local food bank, holding a coat drive or raising awareness of important social issues helps shape your company’s public image. By giving back to the community, companies can build a positive reputation. What’s more, customers may be more likely to support companies they see as socially responsible and philanthropic.
Businesses that give back can also improve customer loyalty and enhance relationships. Corporate philanthropy enables companies to build strong partnerships with other businesses, nonprofits and government agencies to generate new business opportunities. As an added bonus, corporate charitable activities are typically tax-deductible, which can help a company cut its tax burden.
Improve Employee Retention And Morale
Working together for a common cause can increase employee morale and improve retention rates. As Baby Boomers retire, the face of the American workplace is changing. Gone are the days when people devoted their careers to a single company. The average American will hold 12.4 jobs in their lifetime and employee engagement is low, with only 21% of employees engaged at work.
Younger generations are making job decisions based on more than just a substantial salary. These savvy individuals focus on work-life balance and corporate responsibility. More than 70% of workers want to share the same values as their employer, a survey conducted by America’s Charities reveals.
A company’s support of charitable causes demonstrates a commitment to social responsibility and community involvement. Doing good work establishes a sense of pride and purpose among employees. People want to work for a company that cares about more than just profit. Hosting volunteer events fosters a sense of teamwork and camaraderie. Creating a positive impact in the community can motivate and inspire employees. It can help them feel more connected to their work and the company’s mission.
As the number of Americans working remotely continues to rise, people are searching for ways to connect. Coming together to support a cause provides a source of engagement, and volunteering has been shown to improve the mental and physical health of your employees and possibly even increase life spans.
Be Strategic
Strategic corporate philanthropy can improve lives and shape your company’s reputation. Everyone deserves to live a purpose-driven life.
At Premium Service Brands, we’re passionate about doing our part to ensure kids have everyday necessities, such as food, clothing and shoes while combining our desire to do good with growing our business. Here are some tips I’ve learned along the way to make the most out of your charitable efforts.
1. Listen to your employees.
Get insight from your employees on how to make an impact. Make sure you pick causes they support and admire. At least 30% of employees do not participate in workplace fundraisers because the causes they support are not represented, according to America’s Charities. Your employees may have connections and resources to help your philanthropy take flight. A simple first step is to give employees time off to volunteer or offer to match their donations.
2. Get the word out.
Launch a public relations campaign to tell people about your company’s charitable work. Not only will it paint your company in a positive light, but it will also raise awareness about the charities you support.
3. Showcase your business.
The hallmark of successful business philanthropy is to do good work by showcasing your business. Making your charitable efforts a natural outgrowth of your company will yield better results. For example, our KitchenWise brand specializes in custom-built, space-saving solutions for kitchens, closets, garages and other spaces. Providing a local school library with our organizational solutions highlights our products and creates a safe haven where children can practice their reading skills.
4. Form a partnership.
Taking time to establish an ongoing relationship with a charitable organization allows you to work together for a common cause. You can rely on their fundraising knowledge to help improve your efforts and benefit from cross promotions.
Civic engagement and supporting your community make employees and brands stronger. When team members come together to work on selfless projects, everything is simply better. Making strategic decisions will ensure your efforts are successful.
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