It is important for every business to give back to the society. It is all about appreciating what you get from people and giving something back to them.
Many people believe that it is a business’s responsibility to do something for the betterment of society. While the opinion on this is divided, there is no doubt that donations can help your company’s image, and hence you should not shy away from donating to a great cause.
Here’s how donations can help improve your company’s image:
CSR – Corporate Social Responsibility
CSR can be referred to as the obligation of an organization to look after the society. It involves donating for the welfare of the society. Organizations are aware of the fact that when you give something, you gain something. Same is the case with CSR. It gives you back in the form of reputation, respect and trust.
A company that donates generously in the name of CSR has good customer relations, wide targeted audience, and good media coverage. It can be a good way to advertise your company in the media without having to spend anything on advertisement.
Besides reputation, it also increases your sales margin. Today, people prefer to do business with companies who show their concern for the general public by donating good amount of money.
According to reports, people are more likely to buy a product from a company that is associated with a charity. When you donate for a cause, your company’s image gets a boost and so do your sales.
Strong Bond Between Employees And The Company
Companies who donate to charities and events typically have employees that are more motivated. This is because you tend to feel proud when you work for a company that works for the betterment of the society. You take great pride in this, and as a result you are more kicked about your job.
Employees prefer working in organizations where profit isn’t the first priority but making the society a better place is. However, you must make sure that your donations do not come across as a desperate attempt to increase profits.
Gain Respect
Donating to a charity or hosting an event is a great way to help society and your company too. It’s like hitting two birds with one stone. In one way, you’re helping the society in a great cause and you’re earning respect and love as well.
Other than that, it is very important that you host an event that is relevant to your business. Suppose, your business is about bottled water, then you can host an event that highlights issues with drinking water and how a large population still has no access to drinkable water. Issues like these are global issues, and if you bring light to such issues, your company would automatically be seen in a positive light.
Expanded Network And Connections
Being a donor organization makes you a hero in the eyes of the public and in the market industry. This create new opportunities for you to get new clients, new partners, new investors etc. It’s a great way to boost your business and spread your connections as many people would want to invest in your company or work with you.
You will also attract new talent when you donate as it gives a good impression. More and more employees would want to work in your company, as a result your turnover rate would decrease as well.
Tax Benefits
Your donations are basically shows as an expense and can give you tax benefits. Speak to a tax expert about this and you will see how beneficial donations can be.
There are many organizations that looking for donors for charity. If you are planning to turn charitable, make sure to find an organization that is reliable so that you get actual results and the society benefits as well.
