It’s the holiday season, a time when organizational leaders prepare client gift packages, employee bonuses, and other charitable donations and finalize budgets for the New Year.
It’s also the perfect time of the year to give back. While we applaud any organization that makes giving an integral part of their holiday activities, we’d also like to make a case for why the season of giving should be year-round for your company.
Increased Customer Loyalty
Customers choose you because they like your product or service, but make no mistake—they’re also paying attention to your philanthropic efforts. In a recent study, experts surveyed the brand preferences of 900 participants. Here’s what happened.
Participants were told they’d receive a single coupon redeemable at one of two ice cream shops. Where they redeemed the coupon was up to the participants. Next, participants were told that one shop donated 15 percent of its profits (or $12,000) to charity while the other donated seven percent ($23,000) to charity.
When participants learned which shop donated a higher percentage of profits to charity, guess which ice cream shop they chose? The one that donated a higher percentage of profits, even if the dollar amount was smaller.
While we would never advocate for disingenuous marketing stunts, we’re happy to make a case for win-win action that is mutually beneficial for organizations and their communities. But why is community investment important?
When you reinvest in your community, people talk. The inverse is also true. Organizations that take rather than engage with their communities also inspire conversation—but these conversations are more likely to hinder rather than help stimulate growth. Which kind of organization do you want to be?
Workplace giving isn’t just the right thing to do—it’s expected. A recent Deloitte survey suggests that younger professionals want to work for organizations that prioritize charity. In fact, according to the study, nearly 58 percent of professionals between 18 and 24 gave through a workplace program in 2020, compared to only 37 percent of professional donors.
Additionally, this group increased their donation amounts during the pandemic at a higher rate (seven percent) than all professionals. What does this mean? Young professionals are socially conscious. They want to know you are, too.
If that doesn’t convince you, consider another study reporting that 64 percent of millennials refuse jobs that don’t have robust Corporate Social Responsibility (CSR) policies. Additionally, 84 percent said they would be more loyal to companies that actively contribute to social and environmental issues. Finally, it’s worth noting that the study also reports that millennials will make up 75 percent of the workforce by 2025.
CSP Worldwide: Our Commitment to Giving
At CSP Worldwide, we understand how important it is to give back and do our part for the environment and community. That’s why we’re proud to support the Front Row Foundation and Angel Wings International. Additionally, we have our own initiative, A Warmer Winter, where the staff at CSP provides basic necessities to Chicago’s homeless community every December.