At its core, a business is a group of people coming together to achieve a common goal. That goal may be making money, but it could also be something else entirely. Maybe it’s creating a product that makes people’s lives better or providing a service that helps the community at large. Whatever the goal may be, businesses need to remember that they are part of a larger community and, as such, have a responsibility to give back. Here are three ways according to Jordan Sidoo that giving back can actually help your business achieve its goals.
1. It can improve employee morale and motivation.
Giving back to the community can be a great way to improve employee morale and motivation. When employees see that their company is doing good things for the community, they’ll be more likely to feel proud of their work and more motivated to do their best.
2. It Can Help you attract and retain customers.
In today’s world, consumers are increasingly interested in supporting businesses that align with their values. By giving back to the community, you can show potential customers that your business cares about more than just making money. This can help you attract new customers and retain existing ones who might otherwise take their business elsewhere.
3. It Can Boost your bottom line.
Jordan Sidoo It may seem counterintuitive, but businesses that give back often see an increase in revenue. One study found that companies with formal corporate philanthropy programs saw an average return on investment of 6-to-1. Furthermore, another study found that every $1 invested in corporate philanthropy resulted in an additional $3 in pretax income. So, not only is giving back good for the community, but it’s also good for business!
In the end,
All too often, businesses focus solely on making money and forget about their responsibility to give back to the community. But by doing so, they’re missing out on some big benefits! From improving employee morale to attracting new customers, there are plenty of reasons why giving back can help businesses achieve their goals—and even boost their bottom line. So don’t wait any longer—find a way for your business to give back today!