The majority of people in UK think that businesses should be engaged with at least one charity. Additionally, it was found that given a choice to choose between two companies offering the same products and services for the same price, over 82 per cent of consumers would choose a company engaged with charities.
These figures only highlight the fact that companies, whether dealing with people directly or belonging in the B2B market, need to be supporting a charity in one way or another.
Charities as a matter of fact are not oblivious to why businesses are engaging with them. In fact, they will try and help companies as much as they can to reap rewards.
Here are a few reasons why businesses today need to support more charities:
1: To Define their Corporate Identity
By engaging in charity work, a company can portray itself as a brand that is ethical and trustworthy. It also helps a company to stand out from its competition. This will not only help secure a brand image but can also be used as a recruitment tool to attract the top talents in the market.
2: To Have Better Public Relations
Sharing the charity stories benefits the company on many different levels, such as:
- Customers visiting the company’s website will get to see the activities that the company is involved in
- Coverage in media can reassure existing employees that they took the right job decision
Apart from this, it shows the clients, customers and business partners that the company and its leaders are dedicated towards charitable causes. Additionally, many business award applications have questions related to a company’s CSR practices, giving the companies engaged with charities a winning edge.
3: To Enhance Employee Relations
A lot of people wish to volunteer or raise money for a cause, but are hampered by busy working schedules. Also, some people are scared to try an opportunity on their own. With the company organising employer-sponsored activities and events, it will allow their employees to do things without feeling that they are compromising on their work or families to help others.
4: To Boost Team Building
As companies are raising money for charity, employees from different departments and work teams come together. The charity events and activities provide an opportunity for them to interact with each other outside the work environment. Different teams and departments can come together to serve a meal, volunteer in classroom or help build a home. This helps boost employee engagement and unity as they work together towards a shared mission and a common goal.
5: To Gain New Opportunities
Engaging in different charities will further help your company know a network of like-minded business owners, who you may meet during similar charity events and activities. These sources can come handy during unfortunate events such as a looming financial crisis. They can help you connect with companies that offer commercial finance loan at a lower rate than that of traditional UK banks.
Isn’t that a personal benefit?
Now that you know why your company needs a charity, let us tell you how you can find the right charity for your company.
Here are few criteria that you need to consider:
- Look for charities that mainly resemble your business’s core values. Not only is it fun to work for a charity that you believe in, but you will also happily dedicate your time and efforts towards a cause you completely relate with. Additionally, your team will be enthused in carrying out such activities and events as they are more relatable to their experiences.
- Start by appointing one person to be in charge and then move towards creating a committee. This helps simplify the process of spreading tasks related to finding and managing the charities that you have chosen.
- From a business perspective, look for charities that gives your brand some meaningful exposure.
- If you are sponsoring a charity event, look for a charity that involves your target market and target audience.
Additionally, it is also important to check that the charities you are supporting don’t promote any religious, political or social agenda that is controversial in any way. Engaging with a charity that adversely affects your market reputation is the last thing you want. So make sure you choose wisely.