This week’s Fierce resource was originally published by Entrepreneur and showcases four ways that a company can benefit from giving back to the community.
Although charitable acts are supposed to be made for selfless reasons, without the anticipation of a return on investment, there are rewards for businesses that give back.
Per John Boitnott, Entrepreneur Contributor, some of the ways companies can gain from giving back include:
1. Building respect and a good reputation in the community. The relationships formed through giving back to local organizations can add great value to businesses. When other people and businesses see the positive impact of charitable efforts, they want to support the company. Goodwill can go a very long way, and solidify a business as a steward to the community.
2. Improving the community. It goes without saying that giving back to the local community makes it a better place to work and live. Not only are businesses making a better name for themselves, they are making their home a better place. Whether it is parks they frequent, or the schools their children attend, donating locally has direct impact.
3. Employees respect leaders who do good. Employees respond deeply to company values and what the leadership at their company does. It is more important than ever to lead by example. With employee engagement low across the board, employees need motivation, and good morale can go a long way.
To find out Boitnott’s fourth reason to give back, read the full article.