There are three major benefits to taking corporate social responsibility seriously – it helps others, it helps build better communities and, most surprisingly, it can help your business’ bottom line.
Companies that engage in corporate giving have more engaged employees, lower turnover rates and better connections with customers. Additionally, corporate social responsibility can help generate new business and hiring opportunities. For example, 61 percent of all candidates take corporate philanthropy initiatives into consideration when evaluating a company, and 83 percent of all employees prefer to work for companies that focus on corporate giving.
Corporate giving can help you hold on to your top talent.
As the economy improves and the need for people with specialized skills increases, retention of key employees is becoming essential for businesses. Corporate giving can drive better retention and help you stamp out turnover in your organization.
In fact, 41 percent of employees say that they would be willing to earn less money if their employer afforded them the opportunity to make a difference through corporate giving programs. At the same time, allowing your employees to participate in volunteer and charitable causes gives them a chance to hone their soft skills, including interpersonal communication, problem solving, time management, etc, which can prove valuable to you and your productivity in the office.
What are some examples of corporate giving?
Of course, while corporate giving will benefit you and your employees, the single biggest beneficiary is your community. Yet, there are many ways you can structure your programs, and many areas to focus on. The top four causes backed by corporate social responsibility programs today include:
- Social services
- Environmental causes
- Community development
To learn more about the benefits of corporate giving, contact Adecco today.