The benefits of philanthropy are a priceless business practice
Sponsored by Cerebral Palsy Alliance
By Cameron Bayley
“Doing good” has become synonymous with good business. It is an expectation of customers, consumers and stakeholders that organisations give back to the communities in which they operate. Indeed, recent studies have shown that around nine in 10 consumers are more likely to be loyal to socially responsible businesses.
Research shows that employees feel rewarded by taking part in CSR initiatives.
“Business is all about people and relationships, so looking holistically at your community involvement and interactions is important,” says Jamie McKeough, chair of accounting and advisory firm William Buck. “Your level of corporate social responsibility and positive impact also has an influence on the brand perception of your business.”
As good for staff morale as it is for the wider community
Philanthropy is more than just something nice and shiny for brand reputation, it can have an internal ripple effect as well that shouldn’t be dismissed. “Research indicates that employees feel rewarded by taking part in CSR initiatives and empowered as agents of social change. This should certainly have a positive impact on employee engagement and retention,” McKeough says.
And while the effects of the so-called “great resignation” may be slowing, staff retention should always be top of mind for any business owner, and CSR done well can be a great tool for morale.
Fundraising supports groundbreaking CPA research into the prevention, treatment and cure of cerebral palsy.
For the team at Texas Peak, the Australian distributor of the popular Brooks running shoe brand from the US, joining the upcoming STEPtember virtual health and wellbeing fundraising challenge run by the Cerebral Palsy Alliance (CPA) ticked a lot of boxes − and not only for the obvious connection to the products.
“STEPtember’s mission is perfectly aligned with Brooks, which is to get people moving,” says Texas Peak CEO Sanjay Jain. “A number of us here at Brooks have personal connections to cerebral palsy. In fact, one of our first ambassadors, Darryl Howe, has CP and through grit and determination has completed many marathons. He’s an inspiration to all of us.”
Adding some healthy competition to the workplace, STEPtember encourages organisations to get involved. The idea is to rally together teams of four whose aim it is to fundraise as much as possible for cerebral palsy as they walk, swim, dance, wheel or run their way to 10,000 steps a day.
Money raised goes towards the groundbreaking CPA research into the prevention, treatment and cure of cerebral palsy that has helped Australia become one of the world leaders in this space, not to mention the work it does in treatment, services and assistive technologies to ensure people with cerebral palsy have access to mobility treatments and much-needed items such as wheelchairs and walking frames.
For Jain, participating in this event speaks to people both outside and within the business. “It demonstrates to our customers, employees and other stakeholders that Brooks is committed to an equal and inclusive society,” he says.
“We believe this leads to increased trust amongst employees and customers who share similar values.”
A happy workforce is a productive one
Feedback has shown that being involved in initiatives like this really does deliver internal benefits. Perhaps because of the good-natured rivalry entailed in STEPtember, CPA says research has found that, of those organisations involved, 85 per cent reported the positive effect this had on their employees, benefiting areas of teamwork and productivity.
85 per cent of organisations involving staff in CSR activities reported a positive effect on their employees and productivity.
There are plenty of ways to include staff in your CSR. Canvassing their ideas on which direction to take can give them worthwhile buy-in. “This could be through a survey, anonymous suggestion box, firm-wide discussion or creation of a CSR committee that includes employees,” McKeough advises.
The range of CSR options is broad — so there’s no reason why it can’t be part of all enterprises. “Every business should engage in some degree of philanthropy, as a responsibility for the social licence it has to operate,” says Jain. “My advice is to just start; it doesn’t matter how big or small your contribution is.”
For details on how to get your organisation involved in STEPtember head to STEPtember.org.au/organisations