There are only so many hours in a day, and most of us are just barely keeping our heads above water. That being said, it’s understandable how certain procedures and action items can get bumped down your list of priorities. However, it’s extremely important that the documentation and tracking of your return on giving not be one of them. With an effective, streamlined tracking system in place, your company will simply thrive.
First of all, the most obvious benefit of having ROG data is being able to evaluate and review the effectiveness of your corporate social responsibility (CSR) programs and take an assessment of where there is room for improvements or changes. Having this data also allows companies to publish a more comprehensive CSR report to share with company stakeholders, employees, and community members.
Having the ability to track the impact of your giving programs and share outcomes with the public will do the following:
- Foster Goodwill Within the Community - Being able to share the results of your charitable efforts with the public is an essential component of building a good relationship with the local community. If your company is also giving back to local causes, this creates a sense of mutual support between your business and the surrounding community members. Investing in the community is ultimately an investment in your company and results in a mutual understanding of “if you have our back, we’ll have yours” mentality.
- Improve Your Company’s Reputation - Corporate giving and employee giving programs are great ways to enhance a company’s visibility while creating a reputation for doing good. The key to achieving these results is open communication between a company, its employees, and the public. Using ROG data to publish annual reports on CSR programs and issuing press releases about major partnerships, initiatives, or events are two good ways to spread the word.
- Attract Potential Investors - Investors are more likely to be attracted to and continue to support companies that demonstrate a commitment to charitable causes that impact the lives of employees, customers, and the local and global communities. In fact, a recent study revealed 83% of professional investors are more inclined to invest in a company well known for its CSR, viewing such initiatives as an indicator of greater transparency and honesty in operations and financial reporting, resulting in lower risk. Being able to show an ROG will attract new investors and help retain existing ones.
- Increase Revenue - In addition to expecting quality products and services, many customers are more likely to buy from a socially responsible company. One study found that 55% of global consumers will pay extra for products and services from companies committed to positive social and environmental impact. In other words, doing good things is good for your business. Again, being able to track the impact of our CSR programs is the key here. Today’s consumers want to see the results of a company’s efforts rather than just taking their word for it.
- Boost Employee Engagement - CSR is expanding to include creative programs designed to engage employees and create a sense of morale among coworkers. These programs help attract and retain top talent. Good people are at the heart of every good corporation, and smart executives recognize that each dedicated member of their workforce is a brand ambassador. Tracking participation in employee giving campaigns and volunteer programs provides the opportunity to evaluate and assess the effectiveness of the programs and determine what can be improved moving forward.
DonationXchange exists to help you meet, measure, and grow your corporate social
responsibility programs and effectively track your return on giving. We assist in simplifying
the entire process, so that you can concentrate on that ever-expanding list of priorities.
Added On June 06, 2018