The Betsy Bash team has so much to be grateful for this year, we are all happy and healthy, we love our job and our clients and we have seen incredible growth! As we reflected on these gratitudes, we wanted to give back. We decided to donate as a company to four non-profits or organizations that are changing the world for the better. During the month of November, we highlighted each of these organizations on our social pages, and doing so reminded us why it is so incredibly important for every business to support worthy causes.
In 2021, a business is not judged solely on their product, service, or experience but what they stand for, how they affect the world and their values. Consumer's focus has shifted, we determine how we spend our money in part by how ethical a company is. This pivotal point is what brought us to our blog topic today, why it is fundamental for businesses of all sizes to give back to their communities. No longer is a business’s worth simply measured by dollar signs and products but by the impact, they make both directly or indirectly. We will be discussing in this post the four unexpected reasons why businesses should devote their time, money, and efforts to philanthropic endeavors.
Charitable Giving is the Right Thing to Do
The number one reason that charity should be built into every company's DNA, is that it is the right thing to do. No matter where your business is located, what products or services you offer, or how you conduct business, you are part of a community. A safe and healthy community is essential for any business to thrive. When the people you serve are successful, healthy, and happy, your business, big or small, will grow as a result.
There are many ways to have a positive impact as a business: end of the year donations, sales percentage donation, donation of services or goods, organizing volunteer efforts, sponsoring fundraising events, etc. With so many opportunities to choose from, doing our part as professionals is even easier than ever. In addition to the holistic good for goodness sake, there are a variety of business-building incentives built-in to the process of partnering with charitable organizations.
Company Culture Improves with Philanthropy
A major result of philanthropy within a business’s culture is the positive impact on employee morale. The priorities of employees have shifted in recent years to value heavily the positive ethos and moral compass of a company. Recent research said that “37 percent [of employees] felt more connected to their company culture when they had the opportunity to participate in charitable events. The perceived impact on morale was even stronger: 57 percent of respondents believed the charitable events made for happier teams.” A growing amount of the workforce (Gen Z and Millennials) are increasingly socially conscious and seek to make positive change within the world. Job seekers are often evaluating companies by the business’s social, economic, and environmental impact. If you seek to attract and retain qualified and educated employees finding charities/non-profits that align with the ethics of your company is an excellent way to do that.
Today’s Consumers Demand Contributions to Worthy Causes
As we discussed in our blog, “Tackling the Millennial Market,” millennials are smack dab in the prime of their spending years and make up the largest portion of the workforce right now. When a millennial is making a purchase, they want to be assured that the brand or company they are purchasing from aligns with their values. The generation bringing up the rear and entering adulthood, Gen Z, is of the same moral mindset as millennials when it comes to shelling out cash. “The first thing you have to keep in mind about Generation Z is that many are socially focused. They want to support businesses that improve lives on this planet; one McKinsey survey found that 70% of Gen Z respondents try to purchase from companies they consider ethical.”- Forbes.com
Finding charitable causes and organizations that align with your brand, supporting them, and being vocal about that support is an invaluable marketing strategy to reach the Millennial and Gen Z demographics. Show your consumers that when they purchase from your business their money isn’t just lining the pockets of some bigwig boss but it is being put to use in a tangible way; this will build strong brand loyalty and repeat clients.
Builds Brand Awareness
Finally, another major reason to get out there and start giving is to build brand awareness and further your company's network! Giving a sizable end-of-year donation, sponsoring, or setting up employee volunteer campaigns to a non-profit or charity will create a long-lasting and strong connection between the individuals within those organizations and the community they serve to your business’s name and brand. The people you help will naturally become ambassadors helping you market your products and services as you help amplify their voice and the causes they champion.
When a company or business takes on the mantle of a particular issue a symbiotic relationship is built that not only helps to make the business more appealing to potential employees and customers but creates an ongoing and organic marketing tool. Be loud, be proud, and display the charities your business supports because it will help grow your business and increase support towards a good cause.
We hope that this blog helped inspire you to start planning your end-of-the-year donation or fundraising event. The world needs all of us to do our part and help the underserved communities. And if you want a little more inspiration check out the following causes that our team is supporting this month: The Trevor Project, Hope Stone, Inc., Raft Cares, and Plant it Forward. As always, we’d love to hear from you reach out on Instagram, Facebook, or LinkedIn!