Gone are the days when the concept of “social responsibility” was at the periphery of a company’s operations. Today, businesses incorporate volunteerism and giving back at the core of their strategy — not only because it’s the right thing to do but because of the measurable benefits it brings to the business, the employees and the bottom line.
Easy for large corporations, you might be thinking. What about small and medium-sized businesses that may hesitate to spend financial resources and employee time on community service?
As a business leader, you know best what your company needs and can, in turn, offer the community. But it’s worth considering the tangible benefits that result when you incorporate community service into your business strategy.
Increase visibility among prospective customers
When your business is active in the community — giving back through donations and employee volunteerism — you do much more than simply increase awareness of your brand (though it does that, too). Community investment implicitly communicates to people that their patronage of your business, in part, supports such good works. This greater understanding what their dollars support can make the difference in consumers choosing your company or a competitor. But corporate responsibility is much more than just a value-add — it’s becoming a business imperative. That’s because most consumers, and the vast majority of Millennials, prefer companies and brands with socially and environmentally responsible business practices.
Create and deepen community connections
Volunteering and providing financial support to worthy nonprofit groups is a great way to create positive, public visibility for your company. It’s also a provides natural opportunities for you and your team to build relationships and network with influential individuals and organizations. Community investment positions your business as a leader while increasing goodwill toward your brand — both among local consumers and community influencers.
Support employee engagement and satisfaction
A company that values volunteerism and social responsibility is usually a great place to work. The team-building that results from a day of service is hard to replicate in any other way. In fact, research has shown that strong community involvement by a company leads to improved employee satisfaction and retention. These benefits are even greater when the employees themselves have a say in where and how the company directs its charitable investments and volunteer efforts. In short, building service and volunteerism into your company culture will increase your employees’ belief and engagement in the organization, which leads to an even more positive working environment.
Comcast is proud that giving back to the community is at the core of our business. We focus on increasing access to technology, providing skills that help individuals fully participate in the digital economy, and empowering innovators, entrepreneurs and our own employees to use media and technology for good. Learn more about our Community Impact.