The New Year always brings a pause for reflection — a few day’s window to look ahead and think about how this year will be different to the last. It’s as true in your business life as your personal. Whether that’s a pledge to get your tax return in earlier this year, invest more in team development or launch a new innovation — what are your goals for 2018?
Have you thought about making a pledge to give back through your business?
Business giving has the power to be truly transformational, and it’s not just for the big corporates. Small and medium sized businesses have a huge role to play. With over 5 million SME in the UK, just a small increase in giving can amount to a massive total — making a huge difference to the charities providing vital services in the UK and around the world.
Why giving is the one resolution you should keep this year
It feels good to give and many business would like to give back and make a difference to society, but it’s not always easy. We’re living in turbulent times — the IMF have just downgraded the economic forecast for the UK, sterling remains weak and uncertainty around Brexit continues. When there are so many competing priorities, giving doesn’t always make it to the top of the pile.
It’s not just the charities who are missing out here, there is also a business opportunity being overlooked. Done right, charitable giving can give a huge boost to your business. Here’s how:
1. Build your reputation
Values mean nothing unless you show them in action, giving shows that you care about more than just the bottom line. 87% of businesses surveyed by CAF said corporate responsibility activity had a positive impact on their company’s reputation.
2. Strengthen your relationships with customers and drive consumer preference
People are increasingly seeking out businesses and products that have social impact. A 2014 Neilsen study reveals 55% of online consumers around the world would pay more for products and services from companies that are socially and environmentally responsible.
3. Inspire and retain staff
It feels good to work for a company that gives. A study of millennial employees reveals that 64% won’t take a job if a company doesn’t have strong corporate social responsibility values.
4. Drive growth
There is clear commercial advantage to giving. Businesses with a clear ‘Brand Purpose’, those seen as making lives better, grew three times faster in value on average over the past 12 years ( source: Milward Brown’s BrandZ 2017 index).
Give to grow in 2018
At Work for Good, we’re committed to helping businesses make the most of their giving. Our online platform makes it easy for businesses to give in a way that is good for charities, and for business.
Here are our top tips for making the most of your giving:
1. Make it visible
If you don’t tell anyone about your giving, you won’t see a benefit. Make a public pledge and share your giving stories.
2. Link giving to how you do business
A one-off donation is great, but giving can be so much more powerful if it’s built in to how you do business. Giving that’s connected to sales or business performance sends a clear message that you’re a business making a difference every day of the year, not just at Christmas.
3. Inspire others
Get your clients or team involved in choosing the charity. The more they feel part of the story, the more excited they’ll feel about working with you.
4. Be tax efficient
Giving through your business can be much more tax efficient than giving personally.
5. Choose a charity that tells a story
Who you give to, says a lot about who you are.If you’re local business, supporting a local charity can help deepen connections with your community. Or choose a charity linked to your business purpose, or has personal meaning close to your heart.
Like all new year’s resolutions, getting started can be the hardest part. If you want to commit to giving this year and need some help , please get in touch. Our online platform offers everything you need to get set up in just a few clicks and our friendly team are on hand if needed.
Join our movement of like-minded businesses who want to give to grow in 2018 and be part of something amazing.
Clients love knowing that they can make a difference by choosing a business that works for good.