In my last post, 7 Simple Ways to Become Socially Responsible, I discussed cost effective and easy ways to positively affect your community. Beyond the act of goodwill, donating to a cause has many worthwhile benefits.
Tax Incentives
According to the U.S. Small Business Administration, 75 percent of small companies donate to charities each year, averaging a contribution of six percent of their profits. Donations that are considered tax deductible are monetary contributions, donations of property, including business inventory, and volunteering. You can learn more at http://www.sba.gov.
Easier to Hire New Employees
Job seekers want to work for companies that improve society. According to a 2014 international survey by Deloitte, 50% of millennials want to work for a business with ethical practices. Millennials also believe that the success of a business should be measured in terms of more than just its financial performance, with a focus on improving society.
Brand Awareness
Publicize your charitable contributions. If you donate money, goods, or services, contact the media and explain how your donation will help the community. If you create or sponsor a fundraiser, you will get media coverage and your branding will appear throughout the event. Your charitable donation will give your company a huge marketing advantage.
A Positive Corporate Image
Since making charitable contributions will gain you publicity, people will have a positive view of your company. As you continue interacting and contributing to the community, you will be viewed as a valuable asset and more people will want to do business with you. This is one of the most effective ways to positively effect your company.
Connecting with the Community
Donating to charitable organizations lets you network and create strong bonds within your community. You will have the opportunity to meet industry professionals and community leaders. These people will talk about your company and may become customers.
Consumers Want to Support Worthwhile Causes
Cone Communications’ 2012 holiday trend survey found that 71% of Americans would purchase a product that supports a cause over one that does not. Havas Media’s Meaningful Brands Survey also found that 71% of consumers think companies and brands should play a role in improving our quality of life and well-being and that 64% of consumers agree that large companies should be actively involved in solving social/environmental problems. If you have quality products or services, supporting causes will give you an added edge over the competition.
Reciprocity
When you donate your products or services to a charity, they will spread the good word about your company and may become a customer. If you donate to a scholarship fund, you may be able to hire those you have helped. For example, Google will give a scholarship to 1,000 women to take three-month online coding courses. In return, Google raises the number of female coders and can hire from the increasing list of rising stars.
Takeaway
Investing in social responsibility efforts is worthwhile not only for your community, but for your company. With so many incentives, now is the perfect time to become socially responsible. Contact us today to learn how we can help make your fundraising ideas become a reality.
References
Havas Media’s Meaningful Brands Survey found that 20% of brands worldwide are seen to meaningfully positively impact people’s lives.
http://www.ibtimes.com/google-will-pay-thousands-women-tech-take-coding-lessons-1613778
http://www.havasmedia.com/documents_library/meaningful-brands-pdfs/mb_country_factsheet_usa.pdf
http://www.havasmedia.com/meaningful-brands
http://www.fastcoexist.com/1678768/the-brands-that-survive-will-be-the-brands-that-make-life-better
