How Being a Good Business Leads to Good Business
However, as a company, you may also wonder how being linked to Mitchell’s Miracles charity could be a positive benefit to your business.
Business philanthropy may seem a relatively new concept in the world of business, but corporate charitable giving has actually been around for some time.
However, it wasn’t until the 20th century when community development and social responsibility was recognised as going hand in hand with successful business.
Why is it important for companies give to charity?
It’s a simple fact that when you do good at work, you feel good, and when you feel good, you are more likely to have a positive mindset towards your position and company. It’s no secret that being in a good mood increases your productivity and the quality of your work.
This is the essence of why the philanthropic business model works. It causes companies to look beyond meeting their KPIs and generating profit to build a more generous, positive workplace environment. Your employees will feel proud to be part of a team that is making a real difference to the lives of those in need and are more likely to view the company in a better light as a result. In fact, workplace volunteering makes millennial employees twice as likely to rate their corporate culture as very positive. Fostering a productive and happy office environment also improves your chances of retaining your current workforce and attracting new employees. All this good stuff contributes to a successful business, with a happy, enthusiastic and productive team who believe in you as a company.
Corporate giving also makes your business look good to the public. Think of it as another marketing channel. Being a philanthropic business is a great way to raise the profile of your organisation and improve your reputation amongst your audience. The Charities Aid Foundation also found that 51% of British adults are more likely to buy a product or use a service if a company donated to charitable causes.
Corporate philanthropy is also a great source of audience engagement, particularly with the younger generations who are more likely to engage with brands on social media to discuss social responsibility issues. By being vocal to causes you are passionate about on social media, you will be clearly demonstrating your company’s values for all to see.
Corporate charitable giving will only improve your brand’s reputation and awareness if your engagement is authentic and you aim to make long-lasting change beneath the publicity.
Helping out in the community
Giving back to your immediate community also has multiple benefits for businesses, particularly if you operate on a local level. The locals will notice the effort you are putting into improving their community, so consequently raising the reputation of your business. By aligning your donation choices with local causes that your employees care about, you are more likely to get more productivity from your workforce when it comes to raising funds and volunteering. Through your fundraising efforts you are likely to directly engage with your current or prospective customers, creating additional opportunities for your business to grow and strengthen its customer base.
All of the above points are worthy reasons to invest in corporate charity giving within your own business. To go one step further than supporting a cause as a one-off is to look into ways you can integrate corporate social responsibility into how you operate.
What is corporate social responsibility?
Corporate social responsibility (CSR) is the self-regulatory model businesses which is used to assess their impact on society, and how they can develop ethical business processes and practices. The idea is to work out how you can improve the way you operate to benefit employees, customers, investors, local communities etc. If this is done correctly, corporate social responsibility should form an integral component of your company’s ethos and values.
How much do corporations give to charity?
There are no golden rules when it comes to how much to give to charity. But there are a few cases that can serve as examples of how much corporations have given. According to the CFA’s report, the FTSE 100 companies donated on average 2.4% of their pre-tax profit to charity. That’s certainly something to feel good about!
Why being a Corporate Sponsor to Mitchell’s Miracles, could benefit your company.
- Mitchell’s Miracles has a strong brand awareness within the community.
- We have a strong brand awareness on all social media channels.
- Supporting us shows commitment to bettering our community to existing and potential customers.
- We have strong links with the local media and even been mentioned in the National papers.
- Your involvement could build team spirit within your company and help to fulfil your Corporate Social Responsibility.
If you would like to explore the ways in which you could work with us, we would love to hear from you.
Please get in touch with our Corporate fundraiser –