6 Reasons to support a charity: How being charitable can boost your business
While performing an act of charity is typically perceived as a selfless act (as it should be!), there are many other benefits, both personally and professionally, to getting involved with a charity. Research shows that giving back to your community is good for business. In fact, 85 percent of U.S. consumers have a more positive image of a company when they know that the company dedicates resources to a cause they care about.
One Updater client, RE/MAX Gold Coast Realty in Hoboken, NJ, works with 10 different charities – from the Children’s Miracle Network and Habitat for Humanity to their local shelter.
“We’re nothing without our community,” says Dan Voehringer, Broker/Owner of RE/MAX Gold Coast Realty. “Therefore, it’s extremely important for us to do everything we can to support it.”
So, without further ado, here are 6 reasons you should get your business involved in your community!
Taking part in charitable events within your community provides great visibility, boosting both your brand awareness and your reputation. Volunteering your company’s time by sponsoring an organization is not only a great way to raise awareness about a specific cause – it’s a great way to promote your business in partnership with the event.
Participation also gives your team the chance to get to know more members within your community, helping your business gain meaningful traction with your consumers. Helping out at your local Humane Society or homeless shelter shows your customers that you truly care about your community.
Provide Employee Benefits
Today, offering employee perks means more than simply providing health care options and a retirement account. In fact, a 2007 study by Deloitte revealed that 62 percent of 18-26 year olds questioned “would prefer to work for a company that offers volunteer opportunities [to their employees].” What does this mean for your business? By offering valuable experiences to your employees (and making it known that you do), you’ll attract the employees you want and foster a happy and positive work environment.
Improve Employee Morale
Getting your business involved with your community is great way to boost morale and keep your employees happy. Not only is it a great off-site team-building activity, it also allows them to feel like they are giving back to the community that has supported your business. By encouraging employees to participate in a cause that’s meaningful to them, you’re encouraging positive and uplifted workplace morale – win win!
Gain Client Support
Giving back to your community is a great way to gain traction with both existing and potential clients. Participating in charitable events – or even starting your own – shows your clients that you care. Plus, it’s a great way to meet new people and make new connections.
Enjoy Tax Deductions
Don’t forget, you can claim your volunteer time and monetary/in-kind contributions to nonprofit groups on your income taxes. By itemizing your deductions, you can write off any time your business spent volunteering, and you can add monetary value to any donations given as well and claim them, too. Make sure you are working with a nonprofit organization that is approved by the IRS. The more generous you are, the less money you’ll owe come tax time.
Giving Back is Good for You
The best part about helping out – it feels good!