The Importance of Company Giving
In a society where we’re constantly bombarded with news of war, civil unrest and disease, people are increasingly searching for meaning in their lives. Giving is one solid answer to this search. When we give, we not only find meaning but we make our communities and our world a better place one initiative, one action, one step at a time.
You’re probably familiar with the acronym for TEAM: Together Everyone Achieves More. This applies to families when everyone pitches in to clean up the house, in school when students tackle different tasks in order to complete a project and certainly when it comes to giving. When a company adopts a Corporate Social Responsibility (CSR) policy and channels its efforts into improving lives in their community or abroad through social or environmental initiatives, big things happen.
Your manufacturing company benefits from a CSR Policy
- You bolster your brand image: Manufacturing companies often face intense public scrutiny over their environmental impact and the exportation of jobs. Creating a CSR policy is an excellent way to encourage positive PR—the media loves stories of philanthropy. It’s also easy to promote your giving initiatives on social media and likes and shares help bolster your brand image.
- You experience health benefits: We all know that giving feels good but it extends beyond just a feeling. In addition to increasing dopamine and endorphins, giving actually lowers blood pressure, reduces depression, reduces chronic pain, creates a greater sense of overall wellbeing and helps you live longer. It also inspires others to give, spreading the reach of these positive effects.
- Your local community thrives: Anytime you invest in your local community, everyone wins. Ideas include providing grants for local students to learn technical skills that are pertinent to the manufacturing industry, hosting a food and clothing drive, volunteering regularly at a homeless shelter or soup kitchen or donating to local charities so they can make a greater impact. A local investment makes life a little better for your employees too since they live and work in your community, and it increases their sense of pride and job satisfaction.
- You attract and retain talent: By 2022, Baby Boomers will go from comprising 80% to 40% of the manufacturing workforce. This means that the need to attract younger talent is paramount. Millennials are passionate about working for companies that make a positive impact on society and the environment and are attracted to companies that emphasize giving. They value a work environment where their opinions matter and where they can make a difference in areas that are important to them.
- Your biz is more productive: 76% of millennials consider a company’s social and environmental commitments before deciding where to work and 75% of millennials would take a pay cut to work for a socially responsible company. With an increasing number of millennial employees, prioritizing corporate social responsibility is a must and the benefits for your manufacturing company are huge: When your business is committed to your CSR policy, employee productivity increases by 13% and employee turnover is reduced up to 50%!
- You grow your profits: Historically, successful companies were ones that were passed down from generation to generation and stood the test of time. Today, businesses and consumers support companies that align with their values, even if they’re newer to the scene. They want to patronize companies that make them feel good and take a stand on issues that matter to them. When your manufacturing company places an emphasis on philanthropy, businesses and consumers feel good about putting their dollars behind your business.
If your company isn’t currently participating in charitable giving, either in your community or abroad, the season of giving is a great time to start! You will garner publicity, grow your brand image, engage your employees and likely experience a tangible financial ROI. But even more importantly, you will make a lasting impact in the world, one person at a time. This time of year, people are looking for ways to give back and will be even more inclined to partner with you in making that difference. If your manufacturing company doesn’t have a CSR policy in place, begin the process today. Start by evaluating your company’s core competencies and values and asking your employees what issues are important to them.
Chemtex is your leader in water analytics and we strive to make the world a better place by giving back to our local community. Last year we donated to Chloe’s Fight Foundation, Special Olympics of Minnesota, Zuhrah Shriners, Young Life, Livestrong and Dakota County with child safety materials. If you’d like to learn more about us, contact us here or give us a call at 952.469.4965!