Did you know that by helping the people in your community, you could also be helping your business?
A growing number of companies are choosing to place more of a focus on community service and corporate social responsibility, and for those that do, studies show that they can experience increases of up to 20% in their yearly revenue.
The benefits of workplace philanthropy, however, are about more than just the bottom line. Whether it is through volunteerism, participating in food and clothing drives, or offering employees a designated day of service, companies who make philanthropy a key part of their culture experience a wide array of benefits that are both personal and professional in nature.
The following are five ways your company could benefit from getting more involved in community service:
1. Employee Retention
Today’s job seekers are choosing to focus on things like a company’s values, culture, and impact on the community.
According to a PricewaterhouseCoopers study, 86% of generation Y applicants said that they would leave a company if it failed to offer a program that centered around corporate social responsibility. Offering opportunities to perform community service can help your company stand out and attract top talent.
Collaboration is a necessary part of any business. However, getting coworkers to communicate effectively with one another is often easier said than done. Research shows that employees who spend time together outside of work are more likely to have stronger relationships with coworkers than those who don’t.
“Community events bring employees together in a different light, where they get to know one another better,” says Tiffany Servatius, HR Manager at Scott's Marketplace. “As a result, employees create stronger bonds and collaborate effortlessly in the work environment.”
Encouraging your employees to get involved in their community provides them with an excellent opportunity for networking. An increasing number of businesses are choosing to participate in community service, which means the possibilities for forming new business relationships are endless.
“Other businesses, local government and neighbors all take note of how active a company is in the community,” The ONE Thing reports. “Community service not only creates goodwill, it can improve a business’s prospects by making the area a better place to live and work.”
These are just some of the ways that your company could benefit from community service. Whether you choose to volunteer at a soup kitchen, plant a community garden, or start a brand new initiative entirely, your community will thank you – and so will your business.