Paul Flick is the CEO of Premium service brandsa leader in home service franchise opportunities.
Businesses can be a force for good in the communities they serve. Charitable giving helps businesses attract socially responsible customers and raises awareness about important causes. Taking the time to do good as a company can also boost employee morale and improve bottom line.
Businesses 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 company add value to the communities it serves.
Improve the public image
Volunteering at a local food bank, holding a coat rack or drawing attention to important social issues will help shape your company’s image. Giving back to the community helps businesses build a positive reputation. In addition, customers are more likely to support companies they consider socially responsible and philanthropic.
Companies that give back can also improve customer and relationship loyalty. Corporate philanthropy allows companies to build strong partnerships with other companies, non-profit organizations and government agencies to create new business opportunities. As an added bonus, corporate charitable activities are usually tax-deductible, which can help a company lower its tax burden.
Improve employee retention and morale
Working together for a common goal can boost employee morale and improve retention rates. As baby boomers retire, the face of the American workplace is changing. Gone are the days when people dedicated their careers to one company. The average American keeps it up 12.4 jobs in their lives and employee engagement is low, with only 21% of employees busy at work.
Younger generations make work decisions based on more than just a substantial salary. These smart individuals focus on work-life balance and corporate social responsibility. More than 70% of employees want to share the same values as their employer, according to a survey by America’s Charities.
A company’s support of charitable causes demonstrates a commitment to social responsibility and community involvement. Doing a good job instills a sense of pride and determination in employees. People want to work for a company that cares about more than just profit. Organizing 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 looking for ways to connect. Coming together to support a good cause creates a source of involvement, and volunteering has been shown to improve and possibly improve the mental and physical health of your employees. increase lifespan.
Be strategic
Strategic corporate philanthropy can improve lives and shape your company’s reputation. Everyone deserves to live a purposeful life.
At Premium Service Brands, we are passionate about doing our part to ensure children have everyday essentials such as food, clothes and shoes, while combining our desire to do good with the growth of our business. Here are some tips I learned along the way to get the most out of your charitable endeavors.
1. Listen to your employees.
Get insights from your employees on how to make an impact. Be sure to choose charities that they support and admire. At least 30% of employees according to America’s Charities, don’t participate in fundraisers at work because the charities they support are not represented. Your employees may have connections and resources to help your philanthropy take off. A simple first step is to release employees to volunteer or offer to match their donations.
2. Make it known.
Start a public relations campaign to tell people about your company’s charitable work. Not only will it show your business in a positive light, but it will also draw attention to the charities you support.
3. Promote your business.
The hallmark of successful corporate philanthropy is to do a good job of publicizing your business. Making your charitable endeavors a natural outgrowth of your business will get you better results. For example, our KitchenWise brand specializes in custom, space-saving solutions for kitchens, closets, garages and other spaces. Providing a local school library with our organizational solutions showcases our products and creates a safe haven for children to practice their reading skills.
4. Form a partnership.
By taking the time to build a long-term relationship with a charitable organization, you can work together for a common cause. You can rely on their fundraising knowledge to enhance your efforts and take advantage of cross-promotions.
Community involvement and support from your community empower employees and brands. When team members come together to work on selfless projects, everything is just better. Making strategic decisions will ensure that your efforts are successful.
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