CHARITY BEGINS AT… THE OFFICE
It was only a couple of weeks ago that Northcott hosted their 21st Annual Cricket Legends luncheon at the SCG. The team at Acquire have partnered with Northcott for many years both professionally and as volunteers (very much volunteers in training I might add!). This charity luncheon event has grown is size, reputation and value to their customers. I was absolutely delighted to hear from their CEO last week that this year’s successful event raised a record amount of over $200,000 thanks to the generosity of many individuals and businesses on the day. I know these much needed funds will be directed towards Northcott’s Recreation Service – which will positively impact so many lives. Check out the video here.
Acquire took a handful of our clients to the SCG to take part in the day’s activities. We had a fabulous time and came out with a greater awareness of people with disabilities, multiple signed sporting and celebrity memorabilia (a special thanks to Mr Springsteen for signing his guitar!) large smiles; and all our bank balances slightly lighter – all for the right reasons. What was extra special was to witness first hand the dedication provided to so many individuals and families that need that extra support. The team at Northcott work relentlessly with each customer to unlock, discover and unleash their potential, supporting and empowering them to be the best they can be now and in the future. And this got me thinking over that weekend:
Are businesses doing enough to support charities or individuals in need?
Recent studies suggest that millennials have driven the social responsibility movement, with 70 percent of them reporting that they’ll spend more with brands that support causes. Given that millennials represent $2.45 trillion in spending power, the notion of “giving back” may be very powerful for your company’s overall purpose, EVP and not to mention it’s sales!
Numerous enterprise businesses have come up with some pretty creative ways of doing social good – for example, Stella Artois’ “Buy a Lady a Drink” campaign, which provides access to clean drinking water to women (mothers) in third world countries. But you don’t need a huge budget or full marketing team to execute a strong “giving back” campaign. Corporate donations are a great way to generously help nonprofit organizations that matter to you, your employees, and your community. Most small businesses are able to make charitable donations each year. There are numerous benefits to corporate donations; here are four that you or your business may want to consider:
Employee morale – Corporate donations allow companies to take active interests in their own communities and can also lead to a huge boost in employee morale. If a company chooses to make a corporate donation, workplace culture can improve with increased employee involvement and a positive general attitude. According to a 2016 Deloitte study on volunteering, millennials were “twice as likely to rate their corporate culture as very positive” if their company participated in workplace volunteer activities. Employees respect companies that care for their community–it simply makes employees feel good, and increases the emotional attachment to their employer.
It’s good for your community – Charitable contributions have numerous benefits, but the most important one is obvious: you should give back to your community. Charitable donations help better your community, and the public will notice if a company is making a real effort to improve its surroundings. Your company’s charitable donations could help improve schools or parks, giving children safe places to learn and play. If you choose to donate to a non-profit organisation that conducts medical research, you could also help in the effort to cure diseases. The opportunities are endless and extremely helpful.
Increased marketing – Philanthropic businesses are some of the most powerful in the world. For example, Apple matches employee donations, and has donated more than $78 million to charities through 2015. Charitable sponsorship is a great way to do good in your community, while also gaining marketing experience. Donations put your company’s name out there, especially if you sponsor some kind of event. Just make sure that the event or charity mirrors your own company’s goals. For example, if your company makes sporting equipment, consider sponsoring local sports teams or tournaments. That will show your current and future clients that you really care about your business and your community.
Tax deduction – This is one of the most immediate benefits of corporate donations. You may not instantly see how your contribution benefits your community, but you will quickly notice the tax savings. Of course, businesses shouldn’t donate with the sole expectation of financial gain, but there are fiscal rewards for helping a charity in need. Businesses can usually receive tax deductions from sponsoring charities or events, but your should make sure to follow the rules and go about the process in the right way in order to comply with all tax requirements.
We talk with many individuals about their levels of engagement at work. And one way to engage employees to participate is to align the company’s donation choices with causes that have the greatest meaning to your workforce. There are many reasons why you or your company should make charitable donations, and any reason that motivates you is a good one. Donating to charities can help change your business and work culture. It can also have a dramatic impact on others. So pick a cause that you believe in and make your community a better place to live. It’s good for business. In the spirit of giving my views, if you fee like giving then jump on to: https://northcott.com.au/giving/
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