Giving is good for business!
Last September, we hosted the inaugural Connect to a Cause, a 12-hour crowdfunding campaign that raised $148,610 for Lorain County non-profits. A true bright spot of 2020, the event included over 1,000 individuals and companies donating money to 56 non-profit organizations. We are excited to build on this momentum with our upcoming Connect to a Cause event on Thursday, September 16, 2021.
One of the early steps in adding to last year’s success was announcing our Connect to a Cause Business Champions. So far, 21 businesses have stepped up to donate $1,000, which we will include in our prorated donation match going to all 65 participating Connect to a Cause non-profits.
While business leaders have always made charitable gifts, the dynamics of those gifts are beginning to change. As the customer and employee demographic becomes more “purpose-driven,” so are the giving decisions begin made by companies. As a result, Corporate Social Responsibility (CSR) strategies are increasing at companies of all sizes and industries. Fortunately, as the market evolves, it is becoming easier for small and medium businesses to create corporate philanthropy solutions without negatively impacting the company.
Data proves that CSR is more than just supporting local non-profits. Companies with CSR initiatives outperform their competition, boasting more satisfied employees, more loyal customers, and more robust financial performance and growth. According to a Project ROI study, a well-designed corporate social responsibility program can increase employee engagement by up to 7.5%, increase employee productivity by 13%, reduce employee turnover by 50%, and increase revenue by as much as 20%. From a consumer standpoint, Givinga cites research that 92% of consumers say they have a more positive image of a company when the company supports a social or environmental issue. From an employee standpoint, America’s Charities reports 71% of surveyed employees to say it is imperative or very important to work where the culture supports giving and volunteering.
Consumer and employee benefits aside, America’s Charities indicates 89% of businesses believe partnering with non-profits leverages their ability to improve the community. Along with their direct corporate giving, they see the positive impact of increasing employees’ generosity through workplace giving or corporate gift matching. Many leaders would agree, like we discussed last month, that doing good feels good. It is fun to have the teambuilding of employee volunteer projects and rewarding when employees mentor as a way to help them grow their leadership skills.
If your company is still just reacting to your giving rather than deploying a more significant strategy, we would like to help you think through an effective strategy, and how CSR strategies can help your company. If your business wants to share some of your success stories in the CSR space, I would love to hear them. We can connect your business and employees to causes that matter.