Corporate social responsibility (CSR) is a broad term used to describe a company’s efforts to improve society in some way. Beyond the benefits provided to the community, however, charitable giving also provides important benefits to the business itself.
Here are some of the ways your company can benefit from giving back to your community.
Good Reputation and Positive PR
One of the most significant takeaways from giving back to your community is the good reputation you will build up over time, as you help those who are in need in your community. A company’s reputation is very important to its success, whether you are selling goods or services. Likewise, a consumer would make their decision to buy a product or service through how they feel about the company, so having a good reputation is extremely important.
Community-minded businesses tend to receive lots of positive PR simply due to the fact that people are interested to share stories that evoke positivity and warmth. Whenever a company engages in charitable acts, their good deeds definitely will not go unnoticed, especially in the digital age of social media – where photos, videos, and even text posts, can easily go viral. Positive news goes a long way, and this helps businesses to gain exposure in the long run.
Networking and Connections
Building a positive presence in the community also leads to further networking and connections for a company. Charitable events, especially those held on a larger scale such as charity balls or charity dinners, tend to attract like-minded philanthropists. Many of these philanthropists are usually community figures, such as governmental leaders, religious figures, CEOs, and charitable organisations. This provides an excellent platform for networking, which may allow a business to grow further.
A Better Community
Naturally, giving back to the community comes with the desire to make one’s community a better place. There are positive effects that come with a better community. Not only does the community become a better place for those who live there, it also results in a better work environment for your company. This can come in any form of improvement to the community – a donation to a nearby childcare centre, where your employees can safely leave their children while they go to work; or green initiatives which leads to a cleaner and greener environment to work in. A better community will also result in a better reputation for your community, and in turn, your company too.
Increase in Company Morale
The benefits you reap from giving are not just external. Employers who give back to the community also tend to see an increase in company morale over time. Employees naturally have more respect for good leaders, so if an employer is committed towards giving back and bettering their community, they tend to gain more respect. Furthermore, knowing that an employer cares about the welfare of the community leaves no worry for employees about their own welfare. A caring, giving employer results in a better, more cohesive work environment where employees are happier and more motivated to do their best every day.
Giving employees the chance to volunteer also improves employee engagement. Setting some time for volunteer drives during work hours will result in happier employees, as it provides an opportunity for employees to join in and give back to the community as part of the company. Furthermore, when employees work together during volunteer events it boosts their teamwork, as people from different departments work together toward the same goal, fostering cohesiveness. Giving employees the opportunity to aid in the organisation of charity events also improves leadership abilities and proactivity.
If these reasons weren’t enough to start giving back to your community, there is also the more tangible possibility of charitable tax deductions. Hopefully, this isn’t your only incentive to start your company on volunteering, donating, or taking part in other charity drives. After all, the greatest reward you can get from giving, is the satisfaction you get from giving, so start giving today!