WHY GIVING BACK AS A BUSINESS IS ESSENTIAL

Matthew Gorelik - Giving Back As A Business Blog Header

First published on MatthewGorelik.info

Corporate social responsibility (CSR) is more respected by customers, news media outlets, and stakeholders than ever before; in today’s world of widespread green-minded initiatives, electric cars, recycled goods, and global civic-mindedness, consumers regularly choose businesses that give back to the world and its people far more frequently than their selfish corporate counterparts.

For this logic-loaded reason and countless others, giving back as a business is essential to well-oiled performance. Check out these reasons that support civic-minded policies.

Young, talented workers are willing to take pay cuts to work for responsible companies

Recent research suggests that a whopping three-quarters – that’s 75 percent – of millennials would take pay cuts just to be employed by businesses with solid corporate social responsibility policies. While millennials regularly catch flak for being their forward-minded, globally-oriented selves, the global workforce isn’t getting any younger; as time marches onwards, millennials and constituents of the similarly-minded Generation Z continue to fill the figurative gas tank of corporations’ collective and individual payrolls.

Companies that require mandatory volunteer work from employees see immediate boosts to workers’ efforts

According to a 2010 poll conducted by PsychCentral, one of the Internet’s longest-running and most-trusted outlets of information related to mental health disorders and their treatments, United States citizens who volunteered their time and effort to good causes benefited in several ways:

  • Two-thirds of people polled reported that they felt as if their physical health had immediately improved following their participation in volunteer work.
  • Over 70 percent of respondents claimed that they were graced by reduced stress in their daily lives.
  • Nearly 90 percent of those volunteers shared that their overall happiness levels had risen both immediately after volunteering and for weeks after offering their help to the civic-minded causes they contributed to.

Peer-reviewed entries into the academic world’s most prominent psychological journals widely suggest a positive correlation between workplace productivity and employees’ average happiness levels.

Why not require just one day’s worth of volunteering out of employees? Calling off work for that day would arguably be a solid investment.

What goes around comes around

Giving back to non-profit organizations and local communities – even if no other benefits are garnered from such civic-minded corporate policies – is likely to generate positive karma. People, organizations, and governments on the receiving end of such assistance are more likely to do business with an entity that gives back.

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