29 May Link Your Business To A Higher Purpose
How community involvement will affect your employee engagement and customer satisfaction.
In this cultural shift from focus on money-making to feeling connected to our work, comes a need for employers to join forces with a higher purpose. Forbes CEO Jeff Schwartz quotes that, “Employees don’t stay with a company because of benefits. It’s the long-term relationship building that attracts people to stay.”
The keep to long-lasting relationships is having a common goal to work on as a team. This can mean financial donations towards a local charity, neutralizing your carbon footprint, implementing a composting program, or banding together to organize an annual charity event. There are five things that will happen to your business when you choose to associate your brand with a cause.
1. Customer Support
Customers will support and promote a company they believe to be making a positive impact. One of the first “checks” on a product list for consumers is if they are doing something to better the community or planet. For a larger company, this can mean donating proceeds from certain items to charities, such as Me-to-We, or following greener measures like Mat & Nat. If you’re working on a smaller scale, you can choose to meet a need in your own neighbourhood. Local customers are more likely to support your business if they feel money is coming back to build and maintain their community.
2. Younger Demographic
You will reach a younger demographic. 86% of Millennials attach the importance of “giving back” to their job hunt. They’re more likely to decline a job offer if they’ve heard unpleasant things about the company, or if they feel they are doing more social harm than good. Surprisingly, 85% of Boomers agreed with this statement, and want to be associated with a company that they are proud to work with.
3. Personal Connection
When Employees see the “why” in your company – this purpose, cause, or belief that drives them to get out of bed each morning – they’re more likely to show up to work. Not just physically, but emotionally. Feeling this personal drive to achieve something bigger than themselves, and feeling a sense of purpose, will bond employees to their work and will boost their engagement.
4. Build A Strong Team
Not only will employees be more likely to show up to work, but they’ll help each other out in the process. Having this common goal that they’re linked to causes a spike in team bonding, which creates a community feel in the workplace. If employees feel they have friends in their coworkers, they are more likely to give that extra 10% when they come in.
4. Attract Employees
You will help attract new employees and retain existing ones Employee retention is one of the leading ways to save money as a company. With a high turnover rate comes emotional and financial strain on a company, and they key to keeping employees is to give them this purpose. Now, Corporate Social Responsibility (CSR) is a fine balance between sincerity and a PR stunt, like greenwashing. In order to attract the right employees, and keep the talent at home, it’s important for a business to remain genuine about the work.