Many businesses do not devote enough time or resources to workplace volunteerism. On the other hand, many employed Americans believed that organizations that supported a volunteer program had better working conditions than those that did not. In this series of interviews, we look at both sides of the debate and ask entrepreneurs for their opinions.
The question we asked them in an interview was: Should businesses be more involved in giving back to the community and sponsor or start non-profits? Share your experience.
Definitely. Especially in today’s climate people want to be a part of something bigger than themselves. Like Oprah said “ The Best Way To Help Yourself Is To Help Others” I totally believe in this. So when I started my Top Ranked Podcast, #1 Amazon Best Selling Book and our Vertical Momentum Coffee I decided that 22% of all my proceeds go to help Veterans and First Responders. And like my mentor Gary Vaynerchuk says “ Your Legacy Is More Valuable Than Your Currency” As a recovering addict who has personally come back from drug addiction,alcoholism, homelessness, ptsd and blindness im always looking for ways to pay it forward.
Giving back to the community consistently is tough because it is a strategic decision and not just a philanthropic choice. Amid Inflation, it is more beneficial for businesses to give back to the community because consumers now prefer and appreciate those businesses who voluntarily give back to society. Therefore, I would suggest that businesses should give back to the community since the benefits of it are great such as giving back to the community helps in building a positive image and becomes a differential for the businesses. It helps in attracting new customers and retaining the existing customers thus increasing the possibility of sales and profit. For many, it can create opportunities for advertisement and talent attractions and acquisition.
“Presently, the society has high expectations of businesses and the truth is that we cannot be blind to all the expectations we have. As a business leader, and one that is aware of the great resignation, it is imperative that there is a shift from just selling to people to building a brand that people love. And employees want to work at. So businesses ought to focus on building personalities, if they want to know their audience and build a community that loves them. That is why the question of giving to the community is two-way: Giving to the community gives the brand a heart. It shows that the brand stands for a cause and more often than not, people love brand stories that connect to their hearts. Sponsoring or starting non-profit organizations reinforces this and also aids the PR of the business. However, a business owner shouldn’t prioritise giving to the community at the expense of building a business that has global relevance and can thrive through the unending inflation.”
Title: President and CEO
The volunteer experiences that I have engaged in over the years have had a significant positive influence on my career. The benefits of volunteer service on a business career can be many. You get to “do good”, while you are “doing well”. “Doing good” and “doing well” are not mutually exclusive concepts. You get to benefit your community, while enhancing the reputation of your company. Additionally, the person-to-person contacts that you make with your fellow volunteers can be very helpful in your business. This is particularly true in the professional services industry. I made a presentation on how volunteer service and advocacy work can impact a business in a 2011 presentation to the Harris School of Public Policy at the University of Chicago. Most of what I said is very applicable to any business. A link to that presentation is as follows: http://pauldillon.com/articles/reflections-on-community-and-not-for-profit-boards-and-memberships-power-of-networking/
Businesses should absolutely be more involved in giving back to the community for two reasons. First, it’s just the right thing to do. All businesses and individuals should be involved in community efforts. Second, businesses should do it because it builds the goodwill of their brand. Consumers today are very concerned with the social responsibility of the companies they do business with, and the goodwill of a brand can sway their buying decisions. In terms of sponsoring or starting a non-profit, it’s beneficial for the same reasons and can have an even larger impact. You should choose a cause that is relatable to your target market to maximize their engagement with the non-profit, and with your goodwill brand.
Title: Professional Life Style Writer | Entrepreneur
Absolutely. As an entrepreneur, I believe it’s important to give back to the community that has helped you succeed. There are many ways businesses can get involved in giving back, and I think it’s important for businesses to find a way that works best for them. Some great examples of ways businesses can get involved are by donating money or goods, volunteering time or services, or participating in community events. Whatever way businesses choose to give back, it’s important that they do so with sincerity and an understanding of the community’s needs. Giving back should be about more than just writing a check; it should be about making a difference. When businesses give back to the community, everyone benefits.
Title: Founder and CEO, iHaulJunk, Inc.
Absolutely! As business owners, executives and CEO’s we should lead our organizations by embracing Corporate Responsibility within our communities. I strongly believe it is our duty to give back to the very people in our community who allow us the opportunity to operate successful businesses. Here’s the campaign we have going now at iHaulJunk benefiting The SAFE alliance in Austin, Texas: https://gofund.me/05d2553e
Dr. Subodh Simon Karmarkar
Title: CEO and Founder
Given dramatic changes in 2022, organizations need to think outside the old box. Every “for profit” business is defined by a single objective that it or its’ leaders must maximize profits. The “high-fiving” and “back-slapping” for doing what an organization sets out to do, is not unique. What makes an organizational culture unique is its ability to make money and meet other philanthropic goals. Organizations that are maximizing profits is an indication that the members of the society are supporting the organization through the purchase of goods and services. The organization can maintain that trajectory when it gives back to the very same society or its members. Like other relationships, this symbiosis is very delicate and when implemented with care, can bring an ROI in terms of profits, organizational culture and branding.
Title: CEO & Recruiter of GetPaydayLoan.co.uk
Yes, businesses should be more involved in giving back to the community. There are many reasons for this but some are explained below. 1. As a marketing strategy When a business becomes more involved in community affairs, including sponsoring non-profits, it automatically becomes famous. This means that more people become increasingly aware of its existence and some eventually turn out to be loyal customers of that business. 2. It enhances collaboration between the business and the community This means that the business is able to establish a positive relationship with the community it is established. It creates a peaceful and harmonious relationship with one entity feeling like the other is a rival. 3. It empowers the community around them Such activities such as sponsoring students for higher studies are advisable. Not only does the business thrive when they eventually need skilled labor, but it also gives financially constrained students in the community an opportunity to arise and thrive in their careers. Although my business is a few months old, I realized early enough the importance of being involved in community affairs. Therefore, as soon as the company became established and began generating reasonable profits, I began to be involved in community affairs. So far we have sponsored two finance students through their college education who were really needed as I realized during my loan-lending business. My company is also being involved in educating the community about the need for investing in savings and t only relying on loans when the circumstances are unavoidable.
Title: Founding Partner
Of course businesses should contribute to their local communities. There is, in fact, no ethical reason for a business to exist if it contributes nothing to the common good. However, the primary way a business contributes to its community is by employing people in the community at a living wage with healthy working conditions, solid benefits, appropriate personal time off, generous profit sharing, and opportunities for advancement. Plus, if the business is truly local, it serves its community by providing quality goods and/or services at a fair price with appropriate long-term guarantees and support. Any other contribution a business makes to the community through charitable giving, sponsorships, free goods and services, etc. is secondary to this — and can never compensate for a failure to fulfill its primary ethical obligation.
Title: CEO & Founder
I think that businesses should be more involved in giving back to the community. It helps to build a positive reputation for a company and increase customer loyalty. If you have a great social project, it brings new users to your business. This is good for marketing and revenue in the long run. Furthermore, being more involved in giving back to the community leads to bringing the team together. Employees understand that their company is doing socially useful things, and loyalty to the employer grows.
Should businesses be more involved in giving back to the community and sponsor or start non-profits? Share your experience. Giving back to society is one of the things that should be taught more to the businesses, especially the business leaders. Because many are not aware of why a company should focus more on giving back to society. For many years, we have seen many multinational companies that gave back to society and earned a good reputation. They have used this social responsibility to build their business in impressive ways. Yes, companies should be more involved in giving back to society in any form because it not only benefits society but the companies themselves. This act can build a company’s relationship with the local public, which has a great influence on the success of a product. It also lets the companies reduce the expenses on taxes and other legal payments that they are entitled to pay. There are lots of ways to give back to society. It is just the consent of the firm that matters a lot here. No one wants to give all of their earnings back to society, but they should be aware of the ideal percentage that they can return. Here in Spylix, we apply some strategies that would help society most.
Title: CEO and Founder
For many years, we’ve witnessed large multinational corporations such as Microsoft and Apple expand their corporate social responsibility. Recently, smaller businesses have also adopted the same principle to build or develop their entire business model around supporting a cause. As a business owner, the decision to indulge in charity or non-profits can be difficult. Not in the sense that choosing to help those in need is difficult. Rather it’s overcoming the fear that giving back will seriously impact your bottom line. Giving back to the community is an excellent way to promote the business and your services and corroborate for sustainable goals of your company . Associating your company with great causes and initiatives will help consumers see your brand more positively. Volunteer groups and non-profit organizations are highly capable of helping the communities. It contributes to bettering the community and also can serve as good publicity for your business. Your commitment to giving back and improving your community is a great starting point. It speaks of your values and motives and provides an excellent topic for networking. As word spreads about your generosity, people will see your business as an integral part of the community. Operating a socially responsible business will set you apart from your competition. It will certainly help grow your audience and build a positive reputation around your brand while helping those in desperate need in your local community and around the world. Back in 2020, at iSchoolConnect, we took one such leap of faith. iSchoolConnect Technologies Pvt. Ltd, an AI-based Ed-tech company providing study abroad assistance, established the iSchoolConnect Student Community, a hyperlocal and non-profit student and institution community running chapters across 20+ cities across South-East Asia, including India, Bangladesh, Srilanka, and UAE. iSC Communities have grown at an incredible rate, with over 400K students, 230+ domestic institutions, and 500+ institutional heads. The Community endeavors to provide and empower students with all the information they need to navigate their study abroad procedure effectively. The community strives to help students and offer services in various ways. At the individual level, the students are offered private consultations. Ambassador programs, study abroad meets, and student mentor groups are organized at the institutional level. Discussion forums, meeting local study abroad experts, ex-visa counselors, Directors of Admissions at universities abroad, virtual study abroad fairs, and community events are offered at the student’s neighborhood or city level. Apart from these, students get an inside scoop on how to make the most out of merit and need-based scholarships, Essay writing workshops, how to get the best Letter of Recommendation, visa interview training, etc. to get a clear understanding and make the most out of their study abroad journey. Giving back to the community is significant and substantially impacts both the community and business. We have come across many instances in which our business’s recognition is directly associated with the incredible work carried out by the iSC communities. Support from iSC Communities has also resulted in a 25% share of voice in the EdTech market. It all boils down to the fact that the fulfilling feeling of giving back and contributing to society is unparalleled. People walking through the door of your business will eventually value your support in making society a better place. When you give back to the community, people associate the positive virtues associated with your volunteer activities with your professional virtues at work. When your business supports your community, your community supports your business.
Title: Founder & CEO
Businesses can get involved in their local community and support non-profits by volunteering time and resources, donating money or products, or creating partnerships. Volunteering time and resources is often a great way for businesses to get involved in their community. This can involve donating employees’ time to help out at local non-profit organizations, or providing resources such as office space, supplies, or funding. Donating money or products is another common way for businesses to give back. This can involve making a financial contribution to a non-profit organization, or providing items such as food, clothing, or toys for those in need. Creating partnerships with other businesses or non-profits is another way that companies can support causes they care about. By working together, businesses can combine their resources and expertise, allowing them to have a greater impact on important issues in the community. Overall, there are many ways that businesses can get involved in giving back to their local communities and supporting important causes such as helping the environment, reducing poverty or hunger, or funding research into diseases like cancer. Whether it’s through volunteering time and resources, donating money and products, or partnering with other organizations, there are many benefits associated with corporate philanthropy for both businesses and their communities.
Title: Leader & Recruiter of USScrapYard
As a leader of a business I completely understand the hesitation to actively take part in a non-profit organization. After all, a business’ ultimate goal is to make profits. But I believe that if it is done right, being actively involved in giving back to the community might be just as good to the business as it is to the community when planned correctly. Even though a business might need to set a part of its budget to such activities, it can in fact be considered one of the best and most useful marketing strategies. You wouldn’t only be helping out in your community, but you will get to know the people, who might eventually become customers to your business. It is a step that needs a little courage and some planning, but could eventually become a win-win situation.
I think there are several reasons why businesses should give back to the community, and the reasons range from win-win to altruistic. The possibility for local access to local businesses to co-market and cooperate to help each other is immense. The lower cost as compared to long distance relationships is a plus. For example, yesterday I got my car serviced at Lexus, and when asked to rate their service, I followed up with an offer to supply our No Slip Hair Ties as a possible marketing tool for them to say thank you to their customers. I don’t know if this is a good fit for them, yet. But the idea is solid. They could get local support and I could get local exposure, at a lower cost than a long distance relationship, which would include shipping costs etc. I see no ethical barriers to giving back locally but there may be logistical ones. Knowing who to contact at various businesses–can be a problem, but nothing insurmountable. To share and promote business locally, and not have to incur shipping costs, is for us, a huge advantage. If you want any more detail from me, please let me know.
Title: Chief Executive Officer
Involvement in the community is part of Corporate Social Responsibility that businesses adhere to and give valuable resources to. Besides the fulfillment employees feel when they exercise stewardship, it is also a good opportunity for businesses to boost their brand awareness and create a good reputation for the company. There are, however, few prerequisites in order to make it work. Financial Status Giving back to the community requires investing money that will not immediately translate to sales and thus, be difficult to maintain a good cash flow position. I recommend that businesses set aside a budget specifically for CSR efforts so as not to put the operations side at risk. Regulatory and Compliance Affairs In various jurisdictions, there are laws that regulate the use of cash for donation purposes. This is present because it intends to avoid being abused by companies to obtain higher tax deductions. In going about this, finance managers must make sure that there are no laws being violated before implementing any community involvement program as this might hurt the company in the future if left unchecked. Proper internal communication is the way to get through this. Bottom line: The good thing about being involved in the community is it boosts the morale of the employees because it gives them a sense of contentment and satisfaction knowing that the organization they are part of is taking steps to solve the problems within and outside the company. Thereby, creating a culture of positivity, collaboration, camaraderie, and teamwork which leads to a higher sense of employee engagement. It is equally beneficial to the brand because it allows the public – some might be potential customers – to discover the company through volunteerism.
Consumers are demanding more than ever that businesses improve their business practices, become more transparent, and take an active part in addressing social, cultural, and environmental issues. CSR (Corporate Social Responsibility) has established itself in today’s business environment. It should become ingrained in an organization’s mission and narrative, as well as have a prominent position in marketing and promotion. Companies should be aware that advertising their CSR approach is only beneficial if they are already implementing it. Otherwise, making misleading claims about bringing social change to individuals in need may result in negative PR. Companies must examine their corporate social responsibility (CSR) as the millennial customer base grows.
Whenever a global partnership upholds a genuine end goal, some think they are just doing it to get more business. At the point when organizations promise to try to battle environmental change, others think they are buying into the trend since it’s in vogue. As a neighbourhood entrepreneur, there are a lot of beneficial things that can happen when you reward the local area. You are honourable. You are offering back since you have tracked down at least one worthwhile motivation. You give on both an individual and corporate level.
Yes, credible evidence suggests that socially responsible businesses are highly respected and given a competitive edge by customers. For instance, 88% of Americans said in a recent survey that they prefer brands leading with the purpose of social justice. Hence, growth-oriented companies must grow their corporate social responsibility to contribute to community development and build their reputation. Giving back to the community enables firms to build strong relationships and get tax relief on donations. Besides, CSR differentiates a business, contributes to positive branding, boosts employees’ morale, attracts new customers, and offers network opportunities. Moreover, spending money on people increases business profits and helps brands gain customer support.
Title: Co-founder/Marketing Manager
Giving back to the community, whether through donations, fundraising, or volunteering, is important for businesses and promotes goodwill. If you’re a small business, building your relationship with your local community and organizations is a great way to build your reputation, raise awareness to your brand, and drive sales or bookings. All while genuinely helping others. Giving back strengthens your ties with your community. It is like a harmonious two-way communication, where you get to know your local community and they get to know your business more. In the end, you’ll reap the benefits and realize it is a win-win decision. Plus, nothing beats the fulfillment it brings, knowing that you have helped others.
Business is tied to the local community in which it operates – its just the right thing to do to give back to the community where you are thriving and profiting – it is how we grow together.
Title: Co-founder and CEO
I solemnly believe that businesses should be working for giving back something meaningful to the local community. As human beings, it is our responsibility to look out for the people who are incapable to lead a wholesome life with their limited resources. Giving something back to the community would help in improving the existing conditions of people who can hardly make ends meet. It will improve the overall social condition by accelerating the wheel of society towards equality and inclusion. Now, a business is solely dependent on the brains behind it. The amount of recognition a particular company gets could be directly attributed to the hard work and dedication of the people working in it. So blatantly asking them to go none profit and become the pillars of compassion, I believe, is too much to ask for. Frequent/effective community work could be the easier and more satisfactory solution here.
I believe that businesses must absolutely be more involved in giving back to the community! Rather than looking at it as a drain on resources or profit, businesses should look at it as a way to engage with their local communities and help make an impact on those who are in desperate need. In my opinion, this also helps build a positive reputation around your brand and engage on a different level with your customers.
Businesses must be involved in giving back to the community and sponsors. It improves the brand’s value in the market and helps the company achieve their goals. Although, it helps the company to connect with individuals and customers. Some benefits of giving back to the community and sponsor are described as:
It helps in the positive branding of the company and plays a major role in its growth.
It makes you different from other businesses. It will reflect a unique image of your business in the market.
The most important benefit is that it results in more engagement of customers. Customers’ attraction increases which directly impacts the growth and expansion of the organization.