Giving Back is Good for Business

Build a reputation, improve your community and earn respect—all from helping those in need.

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 It goes without saying that donating your time and money to deserving groups and the less fortunate gives you a good feeling, while improving lives, but it can actually do even more. Another reward of helping others is that you can improve your business’s relationship with the community.

Social responsibility is a big deal.

Call it giving back, charity or social responsibility. No matter the name you attach to it, helping worthwhile causes through giving your money or time is in no danger of going out of style. For instance, a 2016 study conducted by Moosylvania looked at millennials’ thoughts on brands and their attributes, including asking what mattered to them most about a brand’s identity. The survey found that 40 percent of the 1,500 respondents referenced a brand’s “social responsibility.”

Give to get.

Obviously, the idea of a business giving back to the community matters to a lot of people, but why should it matter to your business? To start, it can contribute to your business’s reputation in the community. The goodwill that you bank from contributing to your local community builds respect for your business among residents and other business leaders. These are valuable relationships that may come in handy to your company at some point down the road.

Make a better place.

Another advantage to donating to groups in your area is it helps improve the overall community for you, your employees and all residents. Your business’s benefit is really twofold—you earn the admiration of your community, while also making your world a better place to live.

Earn employees respect.

A little closer to home, when your business does good work in the community—whether its helping at a soup kitchen, donating funds to build a new park or something else—your actions raise your employees’ opinions of you as an employer. They will be proud to work for a company that cares, morale will go up and, in turn, your company will work as a more cohesive unit.

Develop connections.

Finally, philanthropy can open doors and introduce you and your business to other people in the community that can be invaluable to the future and growth of your business. These are people who you may have otherwise not had a chance to develop a relationship with, but as a result of your charitable giving, you have come in contact with. In the future, this could lead to other business opportunities that will promote the continued success of your company.