A successful company knows how to make itself an essential part of the community where it is located. A successful business always considers itself a good member of the neighborhood and is willing to give back in a variety of ways. This is an essential part of distinguishing themselves from their competition and improving their perception by customers. According to a study conducted by Echo Research, over 80 percent of consumers in the United States want to know about a company’s corporate social responsibility (CSR) when it comes to choosing the products and services they would like to purchase.
When a business creates a program that enables their employees to contribute to the community, it will improve morale. According to Entrepreneur Magazine, a business should consider offering employees an opportunity to work in the community during work hours. They may even provide incentives for them to participate in community events after work. Doing this can provide a company with the opportunity to provide leadership experience for their employees and more.
When a business makes an effort to give back to their community, it will develop a sense of corporate empathy. Those who are part of a business will make an effort to understand others in the company’s neighborhood. Corporate empathy is one of the main principles Steve Jobs utilized to make Apple such a business success. It will make it possible for employees to realize exactly how a company fits into the community where it is located. This will make it possible for a business to see how their products or services impact the lives of their customers as well as the community.
Successful companies know how to properly establish a set of core values within their organization. These values will have a major impact on a company’s operation. They will guide decisions as well as how to handle situations with employees and the community. Many customers are often with a company because they’re able to connect with the company’s core values. As corporate values become part of the daily operation, they will be something that helps the company grow
A business can benefit from their efforts in a community when they are able to promote their activities. It is important for a company to communicate their efforts internally and externally. This can be done by providing stories about it on a blog, company website, newsletter as well as internal and other types of external marketing.
Let’s give an example: A local Chem-Dry franchise owner could their professional carpet cleaning and pet urine removal services to a local animal shelter and some of the shelter’s foster homes. Corporate could do a story on the shelter and how the franchisee helped them with their cause. A press release could be given to the local media showcasing both the shelter and Chem-Dry. News outlets love to run stories that have positive outcomes and local roots. Making a difference within your community is always a good idea.
A study was done by Hewitt and Associates. Hundreds of employees who worked with companies that employed over 90,000 individuals were interviewed. The results of the study showed that companies who had social and environmental outreach programs had employees who were more engaged with the company. A Pew Research Center study found that over 20 percent of Millennials place a high priority on helping those in need. Companies with such programs also had a higher retention of key employees as well as increased productivity.
An important aspect of operating any business is having a good reputation. It’s important to provide the best possible goods and services, but it’s also important for customers to associate the name of a company with community giving. A good reputation will have members of a community as well as customers identifying themselves with the company. This will be a major contributing factor for a company’s positive growth in the present and long into the future.