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February 16, 2015 | digitalexe |
You can do so much more with your business than just make profits. Of course having a healthy bottom line and robust growth are ideal for any size business but what if I tell you that you can do social good in your community and increase your profitability.
Overcoming the cost barrier
It is reasonable to be concerned that volunteering will negatively affect your business and be both a time and monetary cost that you cannot afford and you are not alone with this concern.
Let’s have a look at some of the ways you can mitigate the cost of volunteering:
General
1. Sponsor: Instead of hosting events, sponsor components that align with your business values;
2. Donate goods: Supply food or other goods for prizes at community events;
3. Supply services: Donate services like bookkeeping and web design to non-profit organizations;
4. Mentoring: Allocate time to mentor community members.
Employees
1. Set maximum time allocation: Decide how much time each employee can volunteer during work hours;
2. Plan for busy times: When work is busy ask employees to volunteer outside of their work hours for an agreed compensation;
3. Work coverage: Fill the gaps when employees are away volunteering via skills training co-workers;
4. Flexible work schedules: Have workers rotate on a flexible roster to accommodate volunteering;
5. Personal days: Allow workers to use their owed vacation or sick leave to volunteer.
The business benefits of volunteering
There is a strong business case to demonstrate that volunteering can help rather than hinder your business. A study, ‘Can Corporate Volunteering Support the Bottom Line?’, by the Case Foundation takes an in depth look at how volunteering affects ROI and provides some essential insights.
1. Employee attraction & retention: Employees are interested in working for companies that give back to the community and, according to The Globe & Mail, will often look at a company’s Corporate Social Responsibility program when choosing a workplace.
2. Brand awareness: Supporting the community gives customers a positive image of your brand which means customers are more likely to purchase from you. Be wary of ONLY using community engagement for this reason, customers will know and leave in droves.
3. Customer loyalty: Increasingly customers are engaging with organizations that support the things they are passionate about, for instance the environment, domestic violence or youth homelessness.
4. Expanding your network: Getting involved in your local area creates opportunities for you to expand your professional network.
Final Thoughts
The key to successful community engagement is careful planning. Choose activities that fit your business and your available resources. Look for existing opportunities within your local community and involve your staff in the discussions.
It is no longer a matter of whether you should get involved, for strong business reasons it’s a matter of when. And remember if you are getting stuck on the details, talk to people that can help get you started.
Examples:
ChangeU: For your independent study ...
Allow Staff Time Off for Charity or Lose Them http://bit.ly/1AdOqDf
Business Case for Employee Volunteering http://bit.ly/1AIBgzP
Solving Social Problems through Business Strategy http://bit.ly/1zZ7kyT
The Benefits Of Corporate Social Responsibility Will Move You To Act http://onforb.es/1yLmC5c
Employers and Employer Supported Volunteering: the business case http://bit.ly/1zZ7FS4
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