Corporate philanthropy has many business benefits and here are three reasons why social good really is good for business:
People want to buy from you
By demonstrating that your company cares about more than just a bank statement, you are building a reputation as a fair, ethical and moral business. Honesty, transparency and authenticity are key qualities to engage your audience, whether it’s impacting environmental sustainability, sheltering the homeless or producing fair-trade, cruelty-free and conflict-free products, all of these factors add up to your brand appearing genuine, compassionate and caring.
People want to work for you
Rather than the stereotype of a cold-hearted corporation, businesses that strategically entrench giving into their brand and business plan are better able to attract top-notch employees and retain talent with less costly employee turnover.
Increased market value with premium pricing
In addition to the two benefits discussed above, a third has emerged for businesses with strong ties to environmental sustainability or social NGOs, and that is the impact on their market value, revenue and bottom line.
There isn’t a downside to corporate philanthropy. Think about how your organization can embrace social responsibility and engage employees. As Anne Frank once famously wrote, “no one has ever become poor by giving.”
By: Sarah Bach: Content Experience Creator & Proof reader, Quarry https://www.quarry.com/fresh-ideas/3-reasons-why-doing-good-is-good-for-business