Today, there are more opportunities than ever before to be socially responsible and help your community through corporate philanthropy. Along with the altruistic motivation to help other people, businesses that have an established philanthropy strategy receive impactful benefits for their workforce, brand, and bottom line.
In fact, surveys have shown that up to 90% of consumers asked stated they would purchase something because the company selling it supported an issue they were invested in or cared about.
If you are interested in starting this type of program for your business, you can find help and guidance from the professionals at David Johnson Cane Bay Partners. You can also keep reading to find out the biggest benefits this offers to your business.
Customers, especially younger customers, like supporting businesses that have hearts. If you have a philanthropy program established, this shows your business has heart.
Studies have shown that even when items cost more, many customers will stay with the brand that does something good. If two products have the same price, virtually everyone will purchase the product offered by the brand that also has a philanthropy program.
It’s not just customers that will note what actions you are taking. You will receive a bigger and better pool of applicants from working for your company, as well. Today, people want to work for a business that cares.
Better Employee Retention
Employees are going to benefit from a philanthropy program, too. This is especially true if you involve your team in the giving process. They are going to be more productive, and they will want to stay around.
Improved Company Culture
If your company has a clear mission and it engages with the community, everyone who works for you will feel better. This is also going to lead to better engagement.
When you give, it means you reach out, meet people, and connect with the community. This is an amazing way to make new connections, learn about the community, and find new ideas.
One of the biggest benefits of philanthropy is that you can take the funds you earned with your successes and give them back to your community. Everything beyond this is just extra benefits for your business.
Developing Strategies for Improved Community Outreach
If you are thinking about starting a philanthropy program at your business, you need to identify the types of philanthropic pursuits that match your business’s corporate culture. Take time to look at your mission statement, your services, and products, and consider the most meaningful way to give back.
Make sure you don’t decide on this alone. Instead, be sure to involve others in the planning. This will ensure that your plans are going to have the biggest positive impact that you want them to.
As you can see, there are more than a few factors to consider when it comes to developing a philanthropy program. Being informed is the best way to ensure that you develop a program with the best benefits.