A recent study found that if given the choice between two companies which offered services or products at the same price, 82% would be influenced by whether the company was philanthropic.
Other studies have shown that Millennials are 70% more likely to spend more on brands that support causes, so it is certainly worth considering the impact of your business’s relationship with charities.
Lookers, home to a range of Motability offers, supports a number of national charities from a group level as well as hundreds of local community charities across its 150 dealerships. Not only does its charitable work support its values of caring for its colleagues, customers and community, it positively impacts its reputation and increases its reach to a wider audience.
Companies can forge positive relationships with charities that go far beyond simply donating money. Offering help in-kind, giving staff a complimentary holiday to undertake charitable work and nurturing a culture of compassion are all positive ways to solidify your business’s social conscience.
More reasons why supporting charity is good for businesses:
It can define your brand identity
The charitable initiatives of your company can be an integral part of your brand, positioning yourself as reliable and ethical. The charities you support can also differentiate you from the competition, further supporting your brand image and making you stand out to potential job applicants.
Lookers has recently worked with social justice charity, Nacro, to offer young people the chance to experience time in the workplace. Not only did this give Lookers the chance to offer time and resource to the community, it potentially sparked inspiration in future job candidates.
Increases your reach to a wider audience
For national and regional businesses, having a charitable presence in your community can increase your reach to a wider audience. Sponsoring local sports teams can introduce your brand to new audience groups, donating to national charities could boost your brand’s visibility on a national level and volunteering for charitable initiatives introduces local and regional charities to your organisation. It’s a great opportunity for networking too.
Boosts employee morale
Seeing the organisation they work for support charitable causes increases positivity amongst employees. Feeling proud to work for a philanthropic company could also increase employee loyalty and retention. Furthermore, people may have individual charities or causes that mean something to them but don’t have time to volunteer or support them as much as they would like. Offering a work based charitable scheme, like Accenture who offer staff three volunteering days per year, will increase morale and commitment amongst staff.
Better public relations
Sharing the stories of sponsorships and charitable events and donations can benefit your company from several perspectives. Media coverage can let the public know what you’re doing as well as reinforce to your employees that they’ve made the right choice to work for you. Charity stories on your website let visitors know about your charitable presence in the community and it can show clients that your organisation is committed to charitable causes. If managed well, successful relationships with charities can positively impact your organisation’s reputation.
It’s good for your community
There’s the most obvious benefit of businesses working with charities – it makes a positive impact to the charity’s cause.
One of the national charities Lookers support is the military charity, 353, which provides support to military service people and their families. We have delivered golf days, track days and charity auctions to raise money for 353 and our recent donations helped to fund the adaptation of a home for easier disabled access of a triple amputee soldier. Working with 353 makes an impact to the day-to-day lives of military personnel whose lives have been affected by war.
By supporting charities, you are actively helping people, organisations and communities by donating money, time or resource. It’s easy to get caught up in the day-today business of an organisation but taking time to give something back to a charity can give you a new perspective on work and life.
That is undoubtedly the biggest benefit, but don’t disregard the other advantages of working closely with charities, as they can make a big difference to your staff morale, public relations and ultimately, your bottom line.
Bibliography
https://squareup.com/townsquare/why-supporting-charities-is-good-for-business
https://www.hawsons.co.uk/business-benefits-of-donating-to-charity/
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