4 of the Top Reasons Giving Back is Good for Business

Image Courtesy of Compassion International, 4 of the Top Reasons Giving Back is Good for Business

4 of the Top Reasons Giving Back is Good for Business

At Ledgeview, we are proud to donate 5% of our net income to charity and participate in Salesforce’s Pledge 1% program.

Ledgeview supports Compassion International, a nonprofit organization that provides resources and opportunities to children in third-world countries with the education, food, mentorship, and medical care they need to survive.

During Ledgeview’s inception, this was one of the pillars of our business philosophy, and it stands to this day.

“At the beginning of Ledgeview Partners, one of our goals was to make a difference in our communities, not just locally, but globally,” says Doug Fissell, Co-Founder and President of Ledgeview Partners.

“As an organization, we believe in giving back; it is one of the pillars of Ledgeview Partners’ business philosophy. Through our donations, we strive to help end child poverty.”

Recently, we announced our participation in the Pledge 1% program in a press release, and, today, we work to further encourage this business model and philanthropy within and outside of our organization.

“At Ledgeview Partners, we truly believe in our motto of ‘transforming business, one relationship at a time’,” says Lucie Schulze, General Manager at Ledgeview Partners.

In this post, we will walk you through 4 of the top ways giving back is good for business.

We know this well: our employees participate and give back to local charities independently, we give to Backpacks for Kids yearly, and much more. We can confidently say we live our values every day.

This is the positive impact giving back can have on your organization, too.

1. Employee Morale is Boosted
Of course, the first major benefit of giving back and encouraging volunteerism is uplifting employee morale.

When companies make donations to charity, there is more likely to be a positive attitude within the organization as a whole.

When organizations give back, they are more likely to draw in quality candidates for new roles and employ ethical, respectful employees. Employees are more likely to feel emotionally attached and respectful of their company when they work for one that gives back.

When companies get behind a charity, employees get behind the company more seamlessly.

While giving back, at its core, is self-serving for the spirit, its additional benefits are undeniable. Employees respect leaders who give back.

2. Communities are Positively Impacted
Similarly, when companies give back, other organizations are likely to become more aware of your goods and services, and partner with you.

Ethical business creates opportunities.

Giving back is especially beneficial for B2B organizations, but, likewise, with B2C, studies have found that millennials are more likely to buy from ethical companies and want to be a part of them.

Forbes says this generation of 18, to 34-year-olds wants to work for companies that “mix mission and money” – companies with purpose and passion. The vibe is catching on throughout generations, though. It is not exclusive to the millennial generation but is prominent within it.

Even better, ethical and philanthropic business models are more likely to create lasting customer relationships. 

By giving back, organizations make their communities better places to live, and that’s hard to go unnoticed!

3. Salespeople Can Network Better
Salespeople that work for organizations that give back are more likely to get their foot in the door and have more opportunities for networking at events, local dinners, taking meetings, etc.

Salespeople that work for charitable companies start with a positive talking point that establishes trust with prospects or new clients from the get-go, further proving philanthropy should be at the core of your business model in emerging industries.

4. Organizations Get Tax Deductions
Financially, this is obviously a great benefit for organizations. Tax savings are immediate benefit leaders will notice, whereas community impact may take more time.

Before you jump in, however, you should carefully explore the tax benefits and regulations of giving back to ensure you are in compliance with the law.

While these benefits are great, at the heart of giving back, is the genuineness of wanting to affect positive change within local and global communities.

4 of the Top Reasons Giving Back is Good for Business

Despite business opportunities, the real opportunity for organizations is to make lives better across the world, and that is the greatest takeaway of all. Individually, giving back is a selfless and worthy action that we all can work on doing more of.

Find out more about what Ledgeview does and what we believe in (and why we do) here.

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