For companies, giving back isn’t just about the feel-good factor. Research from Accenture shows that a clear majority of consumers base their decisions to do business on whether a brand resonates with their core values. Demonstrating, not just talking about those values, makes a tangible difference.
Fundraising can be a powerful tool of mutual benefit for both the company and a benefiting organization. It’s a straightforward way to a business’ brand image while realizing a real world impact to a good cause.
As an executive or business leader, you may see obstacles to making a charitable partnership or business-wide fundraising effort a success. Besides COVID-19 constraints, you might worry about finding the “right” cause, or about how much quantifiable time and resources it will take to truly make a difference. But with these ten thoughts in mind, the decision might become clearer.
1. Giving Back Improves Togetherness
Depending on the cause you choose to fundraise for, you may be bringing money and awareness for a cause that directly impacts the lives of people on your team.
2. Giving Back Keeps You Connected to Causes That Matter
Take the example of childhood cancer. Each year, nearly 16,000 kids are diagnosed in the United States alone – and around the world, families learn of a pediatric cancer diagnosis once every three minutes. These cancers usually cannot be prevented or identified through screening.
And their impact is much more than physical. Statistics from the National Children’s Cancer Society show that while 20% of kids who receive a cancer diagnosis are already living in poverty, another 15% of families who were not poor became so during the course of treatment.
3. Giving Back Lets You Show, Not Tell the Conscience of Your Business
Particularly when your company’s marketing team puts a strong plan in place, fundraising efforts can help your company receive a wealth of positive publicity and attention – with no spin needed.
4. Giving Back Creates a Culture of Generosity
Fundraising is about drawing together and pooling resources for the benefit of others. This can have the psychological impact of driving more empathetic decision-making throughout the company. Your employees will ask more often how everyday choices affect other people, the community, and the world at large.
5. Giving Back Expands Your Audience
The charitable organization’s audience and yours overlap, often becoming one. Helping one another can be a powerful mutual endorsement.
6. Giving Back Boosts Engagement
Gallup research suggests that companies with more engaged employees outperform their peers by more than 200%. But how does fundraising play a role?
Consider that senior leaders in a fundraising effort need to articulate a clear vision to team members – just like in the company at large. And with everything involved in generating money for a cause, managers have another way of showing employees they are valued for their ideas and contributions. This boosts connection and empowerment.
Additionally, a bit of friendly rivalry isn’t a bad thing. If fundraising efforts are tied to “games” where one group of employees competes against another for the best ideas and the most money raised, it can turn into a great team-building exercise.
7. Giving Back Encourages “Outside the Box” Thinking
Fundraisers generally have the added effect of making people seek novel solutions to challenges, thinking of creative but authentic ways to draw attention to their project.
8. Giving Back Creates an Ownership Mindset
Everyone gets involved in a fundraiser, regardless of their “rank” at the company. Few other projects can unite managers and employees so effectively.
9. Giving Back Feels Good
Some experts believe that being generous can literally yield physical benefits, with one National Institutes of Health study showing that altruistic behavior involved in charitable giving releases endorphins in the brain that give people a good kind of “high.”
10. Giving Back Is….Just Right
With the above in mind, it can be easy to forget that giving back isn’t truly about us, but the people and causes we help. Doing the right thing pays dividends in creating a better, brighter world for everyone – especially those in it who are most in need.
What we have is even more powerful when it is shared. This goes for our innate gifts, our special talents, our time and resources. If this is true of individuals, it goes double for businesses, who outside of a product or service need to develop and maintain a clear positive role within their communities.
Looking for somewhere to get started? Learn more about becoming a Partner in Hope by visiting our Give page.