Saturday, August 8, 2020

C-Suite Advisory

Why All Businesses Should Incorporate Philanthropy Into Their Business Models


Whether it is planning a day to give back to the community, speaking to the local youth, or donating services at little to no cost, every business should be incorporating philanthropy into its business model. I believe charitable acts cannot only boost morale but also leave a lasting impression on surrounding communities and potential customers.

Here are a few reasons why my company, Meathead Movers, has taken pride in our philanthropic ways and believes other businesses should too:

Make your mark.

In an industry as competitive as moving, it was important for me to base our company’s core values off of not only providing superior service to customers but giving back to our community. Within the moving industry and in other areas of business, incorporating philanthropy into your core values will help make a mark in your community that competitors are not.

Finding a charitable cause that you are passionate about gives you a competitive advantage in earning new business and retaining employees who are passionate about the work that they’re doing. With corporate social responsibility being such a hot keyword in business these days, figure out what you can do to give back – and here’s a hint: it’s not always writing a check.

Create a greater purpose.

Most business owners know that running a company can be stressful and comes with a handful of hard times. You may not ever feel like you have enough to write a check to your favorite nonprofit. Trust me! I was there too in the beginning. Through those hard times, I realized that people in my community were struggling much more than my brother and I was and we had a responsibility to our neighbors to give back somehow. Beyond providing a service for our consumers, we were doing things like offering free moves to victims of domestic violence fleeing abusive situations. I believe there is no more valuable way a moving company can make a social impact than to offer free moving services to victims of Domestic Violence. Who can benefit the most from your business’s products/services?

We didn’t need to write a check to make this happen, we just needed to use the trucks we had and encourage our team to volunteer time to make a difference. By providing a product or service rather than a check, you’re not only saving your own costs, but you’re likely saving the nonprofit cost as well. With the right team in place, you’ll realize that greater purpose is much easier to achieve than you think.

Encourage and motivate your employees.

According to Fortune, nearly two-thirds of people between the ages of 18 and 34 were more likely to want to work for a company that gives back. By creating a work environment centered around community initiatives and charitable giving, I have seen incredible success with retention and motivation for my team to succeed. By incorporating philanthropy deep into our business model, our employees have shown to be more responsible, motivated and satisfied with their jobs.

It also helps bridge the gap between older investors/business owners and today’s workforce. Whether you are a seasoned vice president or a brand-new employee, charitable giving can foster a sense of community internally by bringing everyone to the same playing field and giving back to something they equally support.

Giving back solves some of our greatest challenges and you’ll be surprised about the benefits that come along with it. Every business strives to make its employees happy and proud of where they work and I’m confident that adding philanthropy to your business model is a step in the right direction.

Have you read?

Aaron Steed
Aaron Steed is co-founder, president & CEO of Meathead Movers. As CEO, Steed oversees all areas of the company – providing clarity, strategy and accountability for everyone on the Meathead team. Aaron is a regular contributor to the CEOWORLD magazine.