3 Reasons Why ‘Doing Good’ is Good Business
Running a business has always been about more than profit margins, securing office space and managing employee turnover. More and more, enlightened businesses are realizing they need to encourage their customers and employees to make positive social impacts in their everyday business operations.
Businesses that want to thrive and survive in the new reality must commit to both sustainability and corporate social responsibility, or risk losing market share. These are issues people are increasingly passionate about (Example: HR magazine), and they want to support organizations that align with their values. Here are 3 reasons you should be doing good, too:
Create A Positive and Supportive Work Culture
Simply said, doing good creates a strong work culture. People align themselves with world issues, and they’re looking for the companies they work for to do the same. Employees become even more excited about doing work for a company that commits to social responsibility, using sustainable materials, and cutting company carbon footprints.
Moreover, when a brand commits to support these important issues, and gives back, they are able to decrease employee turnover, and increase satisfaction and productivity. Employees are engaged, feel connected to the company, and are thrilled to know they’re part of the meaningful work your brand is doing. This is the point where we see individuals who are employees transform into strong brand ambassadors for the company.
Build A Strong Community for Your Business
It’s no secret that people will support companies that participate in initiatives that they hold near and dear. With the competition as stiff as it is, committing to initiatives such as sustainability is a phenomenal way to differentiate yourself as a business. There are hundreds of clothing companies, but one that donates a percentage of proceeds to women and children, or mandates sustainable practices when creating their pieces, those are the ones that will stand out and succeed. Today’s generations demand brands that make these types of commitments to society.
At Blade, we specialize in building brand communities, and doing good is a great way to build a strong community of people who are loyal to your brand. When businesses invest in social responsibility, they build meaningful connections with their customers, and build brand loyalty with them. These customers then become advocates of that brand, spreading the word to those in their inner circle that this is the company to buy from.
“Make” Money by Making a Difference
Did you know, when you ‘do good’, you actually end up making a form of wealth? This is particularly true when your authentic good deeds garner media attention. Like the free PR you’ll be getting on your new green initiatives. Or the work you’re doing to enhance diversity.
This coverage adds equity through positive awareness of your brand. And it’s okay to get that attention – just don’t do things to manipulate the media. That will eventually bite you in the ass (Example: Blue Buffalo Dog Food).
Being socially relevant and active also enhances your recruiting efforts. Employees at every stage in their career are looking to work for companies doing meaningful work, which means attracting them to come work for you is simple. Commit to sustainability, lower your carbon footprint and watch as everyone from fresh graduates to middle management flocks to your business.
Start doing good. Or watch as your company gets left behind as your competition starts to invest in these initiatives.