How Doing Good Improves Your Bottom Line

February is about the time when people abandon their New Years resolutions, but if yours was to get more involved in your community, don’t give up just yet. Turns out, doing good works can provide a lot more than self-satisfaction—it can give your organization a competitive edge and actually improve your bottom line.

A 2013 studydoing good corporate social responsibility by Cone Communications showed 82 percent of US consumers consider corporate responsibility when they shop. Thirty-one percent believe businesses should change the way they operate to meet social needs. Another 29 percent believe businesses should actively advocate social change.

Employees also feel much more committed to an employer whose making the world a better place, and gain important intrinsic rewards for being part of that. This leads to less turnover and more satisfied, engaged and productive workers, which again translates to additional positive impact on the bottom line.

Consumers—especially millennials and mothers—do more than pay attention when shops and businesses address social issues: 91 percent of consumers would switch brands to one comparable in price and quality if it was associated with a good cause.

Being socially conscious isn’t just good PR, it’s vital to your company’s survival. (Click to Tweet)

 

The Quadruple Bottom Line

 

On example is the Sunshine Nut Company, who KB Concepts was proud to work with in 2015. This innovative company is transforming the way American companies do business in Africa. Its Sunshine Approach integrates transformational social goals with traditional financial and environmental ones: what they call the “quadruple bottom line.” Committed to the people of Mozambique, Sunshine Nuts trains and employs adult orphans as well as thousands of local farmers and cashew nut processors. Incredibly, 90 percent of the proceeds are funneled back to support initiatives that literally change lives.

Google made waves in 2015, topping the rankings of the most socially responsible corporations. It received praise for environmental initiatives on its campus and for funding a plethora of scholarship programs and grants. These companies are walking the walk not just through donations, but by creating sustainable models that have a profound, lasting impact on communities.

So what does this look like in practice for your organization? How you choose to give back must align with your specific capabilities and mission. Donate products and services, organize employee volunteer days, forge nonprofit partnerships, or commit to only source fair trade materials to strengthen social involvement. Show a solid grasp of and commitment to the issue you’re tackling and people will take notice.

In our increasingly interconnected world, consumers are looking for ways to make an impact. Getting involved, doing good and sparking meaningful conversations with your brand will ensure loyal employees, supporters and customers who come back again and again.

Interested in adding a corporate social responsibility program to your company’s activities? KB Concepts can help: Great Ideas for Good Causes!

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