It may seem like an odd way to run your business, but giving time, money, or resources to charity can pay real benefits to your organisation.
‘So how does that work?’ we hear you ask. ‘Surely you’re just giving away profits?’
Well, that’s one way to look at it, but it’s not the only way. Here are some of the others.
Would you rather work for a business that puts profit above everything else? Or would you prefer to spend your time in a firm that gives something back to its community? Chances are you’d pick the second option, as would the vast majority of your employees.
Building charity work into your business plan gives you a double whammy. It makes your staff feel better about the company, and about themselves. With that winning combination staff morale is only going to go one way, and that way is up.
Building your brand
You should feel proud about the impact your company is making through its charity work, and it’s only natural to tell others about it.
Sharing stories of the charities you support will improve the publics’ perception of your organisation, encouraging more people to visit your store or website.
And by aligning your charity work to your brand, you can show that you have a sincere commitment to your organisational values.
Support your community
There’s a good chance that most of your staff, and their families and friends will live in the area you operate in. More than likely, so too will your customers.
Partnering with a local event, or giving time or money to a local organisation, is great exposure for your business and will give something tangible back to your area.
There are other benefits to your business too – just think how many of your peers you’ll come into contact with. So yes, you’re supporting your community, but you’re also jumping into an amazing network of like-minded business professionals.
Because you can take a flexible approach
There are many different ways to support charities, enabling you to pick the approach that best suits your way of working.
It may be that you want to give a percentage of all profits to a cause, or just profits from a set period, or from a particular service.Time is one of the greatest gifts you can make. Sending a team to work on a community project for a day or two can have a huge impact.
Then again you may have one member of staff who is passionate about a particular charity who wants to give a day a month to support a particular charity that is dear to them.
Whatever your situation, there’s going to be a way that you can make maximum impact without impacting your business model.
Because you can
This, perhaps, is the most powerful reason of all. Your business is doing well. You’re in the position to be able to help others. Doing so will help your business. Why wouldn’t you?
Getting involved boosts your brand, your reputation and employee morale.
Do you get involved in any charity events? Or are you looking to start in the New Year? Let us know your thoughts or plans.
Want to learn more?
Subscribe to our newsletter to get accounting tips like this right to your inbox
About The Author
A content writer specialising in business, finance, software, and beyond. I'm a wordsmith with a penchant for puns and making complex subjects accessible. Learn more about Elizabeth.