The Importance of Giving Back to The Community From Big Business

Giving back to the local community should be part of every successful business model. As well as building goodwill for the company and creating consumer confidence, it attracts and retains employees, resulting in a happier and more productive workforce. It is possible to create a corporate giving program that not only contributes to the community but also benefits the business – both short-term and in the future.
How philanthropy benefits a business
Motivated employees
The most important part of a business is its employees. Employees that feel happy, motivated and proud of the company they represent are more effective for the business. If an employer shows its employees that they share their personal values with regard to giving something back to the community, employees will feel a boost in morale and be more loyal to their employer. The result is that the business retains valued employees, saving time and expense with recruitment.
Better working relationships
Businesses can allow employees time out of the workplace to pursue volunteering roles, which can encourage working relationships with colleagues they wouldn’t necessarily mix with, and enhance teamwork skills. Consider offering volunteer grant programs, where a set donation is made to a nonprofit organization for every hour an employee volunteers their services, or a grant is made once an employee reaches a certain threshold; for example, 20 hours in a year.
Attracting new talent
Offering this kind of support gives the company an edge in recruitment by appealing to potential employees and attracting new talent to apply to join the company. Current and prospective employees and customers can be informed about philanthropy by including this information on the company’s website; hours can be converted to real money if it is donated time, so customers can see how much the company has given back to the community.
Brand recognition
Philanthropic activity helps businesses gain stature and visibility in the community and contributes to brand recognition, particularly with favorable press coverage. This can be extremely positive; a member of the community that is disadvantaged or involved with someone that needs help comes across the brand and associates it with an improvement in quality of life in some way. In addition, this can earn their loyalty – a good investment for the future.
Community relationships
Being involved with the community helps build valuable relationships with government officials and community leaders. This could stand a business in good stead should their assistance be required in the future with regulatory issues associated with business practice, and they can also help with getting their constituents on board with issues surrounding the business and its future initiatives.
Future customer base
Improving living conditions can help build a customer base for the future; for example, improving literacy or health in an area could benefit a company in the long run.
Technical expertise
By becoming involved with universities or other educational facilities, companies can benefit from technical expertise, research and applications from talented graduates.
Social responsibility, philanthropy and corporate giving
Investing in one’s own community and the people who live there makes good business sense. It can be financial contributions to nonprofit organizations in the community,sponsoring volunteer projects,or by supporting employees in their volunteering choices by offering flexible work schedules so that employees can contribute their time and skills. Philanthropic activity means improving the economic, social or educational conditions in an area that could benefit from some help.
Royal Golden Eagle International (RGE) works with corporate partners to improve the standard of living in local communities by providing access to clean water and health care, and education in rural areas with an aim to reduce poverty. Sukanto Tanoto is the founder of RGE, a resources-based manufacturing group of world-class companies with corporate offices in Singapore, Hong Kong, Jakarta, Beijing and Nanjing. As well as exercising great social responsibility, RGE companies promote sustainable development, including responsible forestry management, conservation, and low-impact harvesting techniques to minimize any negative environmental impact. RGE supports those affected by natural disasters both financially and materially. SukantoTanotoRGE’s products are transformed into a variety of end products that improve people’s lives around the globe.
Pitney Bowes in Connecticut organized for employees to share books with children at a child development center offering education and nutritional programs. They helped to digitize a card catalog in a school library, improved playground facilities, and provided career workshops for high school students.
Ways a business can contribute:

• A company can show appreciation for employees’ fundraising efforts by matching the amount they raise for a nonprofit organization with the same amount. This is a real boost for employees.

• Volunteer grant programs – a set donation is made for every hour an employee volunteers, or a grant is made once employees reach a certain threshold.

• Corporate team volunteer grants – the company provides a monetary donation when a group of employees volunteer together at an organization, resulting in an enjoyable and rewarding team building event.

• Corporate scholarship – support students studying in a certain area or institution.

It might seem like a costly option, but philanthropy is a sound investment for long-term financial success if the organization’s core business, target market and employees’ skills are focused upon.Those seeking to contribute should look at the local community and see where help is needed. It is also useful to consider how businesses can help one another. Perhaps it would be possible to volunteer services that will help to fill a local restaurant on a quiet night, which will boost business for them; a catering company could offer free catering at a community event, which will boost the company profile; an accountancy firm could provide free accounting services, which could lead to future opportunities and business.
It is important that big corporations and business owners give back to the community as a matter of social responsibility. There are ways that businesses can do this that will benefit local communities and businesses, as well as resulting in a happier, more productive workforce, increased awareness of the company and its product, and long-term advantages for the company’s future.