Generosity Brings Rewards

Supporting your community and being a good corporate citizen can have a big impact on your business.

A full-page ad in the Sunday edition of The New York Times stated boldly that $60,000,000 was received in 2012, over $1,000,000 a week, by a variety of recognized charities and community causes.

The ad was not from a charity or fundraising organization. It was from one of America’s largest retailers with multiple stores all across America. Why run full-page ads announcing charitable giving? Why not a sales ad or holiday offers? Because statistics prove over and over that customers, if given a choice, prefer to buy from those who provide support to charities and causes they see as valuable to their community.

More and more companies understand the balance sheet is more than numbers and have developed values that are stated, respected and carried out. Generosity is one of those values. The buying public has made clear that they prefer to buy from good corporate citizens. Generosity demonstrates a genuine corporate value that benefits the company, employees and the community.

When corporations were first granted their charters to do business in our new democracy, they were evaluated on the contributions they made to the public good. While much has changed in the way companies do business, providing public good is still very important and part of every balance sheet. 

Money talks

Generosity comes in all sizes. It will fit nearly every business. How is true generosity recognized? Generosity is noticed if its goals are visible and more than a sales or a morale booster. If your company is looking for ways to give back, consider the following options:

Money works. In Louisville, Ky., the chairman of the United Way Campaign for 2012, Tom Monahan, wanted to encourage greater participation at all levels of business. But he also had another goal: “to blow away the stereotype of greedy companies interested only in the bottom line.” Cash gifts were recognized in a new fashion.

Partnerships work. Monahan enlisted the help of other community leaders and organizations to create a “Partners in Philanthropy” publication and an awards banquet to showcase funds for the United Way and demonstrate the many examples of community generosity. Both the publication and banquet recognized the corporations and businesses that gave the most in cash contributions to non-profits in the city.

Gifts in kind work. Categories were designed to recognize large, medium and small corporations for their cash gifts. Nonprofits and the work they do were presented. Small businesses were also recognized for the difference they made. A number of family-owned business leaders were included in this new recognition program. A local design company won for their work in renovating dormitories at a youth treatment center and for enlisting many others for gifts in kind to complete the project.

Volunteers matter

Volunteering works. Businesses that encourage employee volunteer days at a local nonprofit of their choice get a double bonus. Employees enjoy serving and local nonprofits see your company in a very different light. With employee verification, write a check to an organization representing the value of an employee’s work if a paid day off can’t be granted. Schedule an employee generosity day for all employees to sign up for a community or team project. 

Helping build a house for Habitat for Humanity, spending a day at a soup kitchen or shelter, or helping in a local school or community center are all team-building events as well as acts of generosity.

Here are just a few of the dividends that corporate generosity creates according to www.volunteermatch.org.

Employee morale
- 94 percent of companies surveyed believed volunteering provides a way to raise employee morale.

Employee health
- 92 percent of people who volunteer through their workplace report higher rates of physical and emotional health.

Skill development
- 88 percent of employee volunteers report that volunteering provides networking/career development opportunities.

Employee loyalty
- 66 percent of employees reported a greater commitment to the company as a result of their experience as volunteers.
There are many more examples of creative ways to be generous. Look around your neighborhood and your community. How can what you do every day become more evident and beneficial to others?

Little things count

“Giving” actually multiplies what you are “receiving.” Walk into most Sam’s Clubs or Costcos at 1 p.m. on almost any weekday and you can basically have a free lunch — and not by ordering at the lunch counter. Just walk down the aisles and you will find hot foods from pizza to burgers, cold beverages, hot beverages, sweets and treats of all sorts — freely and gladly handed out. Whole Foods and Trader Joe’s are doing the same for their customers.

Why this generosity? The truth is, even if the goal is not necessarily to be generous (as we think of it), generosity can build sales. Coupons for free items, bonus gifts and prizes have always worked to gain attention and build sales for products from cereal and soap to jewelry and big ticket items such as automobiles and even homes.

Generosity pays dividends. It is attention-getting and cost efficient, builds top-of-mind awareness and can increase sales. It also provides a perceived benefit for customers or clients, which helps create a spillover effect to other areas and products.

But how can you be generous when your cash is low, your business consists of products or services that you can’t give as samples, or you have few employees to volunteer? What then?

There are other ways to share your generosity:

  • Offer discounts to charitable organizations
  • Give time or funds to community projects
  • Participate in a community event that is not business-related
  • Offer your place of business for community use, seminars, calling-marathons or a meeting area
  • Lead a class on your specialty for the chamber of commerce or any local organization or non-profit
  • Speak to senior citizens clubs, retirement communities, schools, and PTAs and let the group charge participants for your valuable information and keep the revenue

Customers and potential customers will take note. Positive publicity is generated. Commit to generosity in the true sense of the word and it will make a difference that can pay dividends for years to come and build your balance sheet in ways that simply can’t be quantified.

Remember, your bottom line may not only be measured by revenue received, but by resources shared. Generosity is a business vitamin that will build a healthier bottom line.



Discussion

Comments on this site are submitted by users and are not endorsed by nor do they reflect the views or opinions of COLE Publishing, Inc. Comments are moderated before being posted.