The benefits don’t stop there. Here are three more reasons why companies should give back to the community:

Fostering better consumer relationships

Imagine this common scenario: you’re shopping at your favorite store and debating whether to buy a product. You then see a sign that says a certain amount of the proceeds go to a local charity. Are you more likely to buy the item? Research points to yes. In fact, 90 percent of consumers would switch to a brand supporting a good cause. When businesses support local initiatives they are more likely to form positive relationships with customers. For example, consider implementing a “hero” campaign that gives back, discounts services or provide gifts to local fireman, police officers, and veterans directly. Drawing connections between your brand and the positive figures in your community can leave a lasting impact on your own employees and customers. 

Strategically elevating brand image

Another way that brands can give back is by stepping out of the office and getting involved with local organizations. Philanthropic organizations typically host multiple events each year in order to fundraise and generate support. Instead of just cutting a check and tossing it their way, consider sponsoring an event and attending with a team. Getting your employees and executives personally involved will create positive brand exposure, networking opportunities, and an elevated overall image among local residents.

Increased employee engagement

Did you know that employees can experience a 21 percent increase in productivity if they’re engaged in their work? Engagement can be generated in many ways, but one of the best ways is by implementing a healthy company culture — and philanthropy fits right into this idea. When employees are encouraged to move away from their desks and step out into the community, you can help foster new sense of pride and passion among your workforce. For instance, a recent study showed that 70 percent of employers noticed that volunteer activities boosted employee morale, and 77 percent of employees felt that volunteering was essential to their well-being.

It’s no secret that giving back to the community is a positive image booster for companies, but the benefits expand far beyond this fact. From better relationships with customers to increased employee productivity and engagement, organizations should think of philanthropic initiatives as a strategic business advantage.

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Heather Harrington, RumbleOn Evangelist