Giving Back
The pandemic has created chaos, misery, and more. On the flip side, it has helped individuals and businesses look at the bigger picture. One result is a resurgence of giving, whether it be of time or money.
From solo practices to multilocation chains, optical is no exception to this trend. What may be a surprise, however, is that small businesses in the U.S. are much more likely to donate both time and money than their giant competitors.
Tip: Volunteering and/or supporting a cause can improve employee leadership, well-being, morale, and camaraderie.
SMALL BUSINESS
According to SCORE (score.org), the country’s largest network of business mentors, small businesses are an astounding 250% more likely to donate to local causes and groups. How generous are they? Again, according to SCORE, three-quarters of small business operators donate 6% of profits to charities.
Here’s where they’re giving those contributions. Take a look and see how your own practice compares:
• 66%…local charities
• 48% young groups
• 42% first responders
• 39% local religious groups
• 37% local “branches” of service organizations like the Rotary
THE PAYBACK
Whatever charity or local activity you choose to support, the fact is that giving isn’t simply a magnanimous gesture. Whether you call it CSR (corporate social responsibility) or just plain giving, it’s good for the soul…and for business. How good? According to a Porter Novelli/Cone Purpose Biometrics Study (conecomm.com/research-blog/purpose-biometrics):
• 85% of consumers have a more positive image of a company that gives to charity.
• 90% of consumers want to know how companies are supporting charitable causes.
EMPLOYER BENEFITS
It’s not just consumers, however. Employees and employers, too, say volunteering and/or supporting a cause can make a big difference by:
• Improving employee leadership (92%)
• Enhancing employee well-being (77%)
• Boosting morale (70%)
• Increasing camaraderie (64%)
One more stat that should definitely be music to employers’ ears…93% of employees who volunteer report they are happy with their employer. (probonoaustralia.com.au/news/2013/09/corporate-volunteering-improves-employee-engagement-study).
Does your practice have a favorite charity? If so, tell us how you and your staff volunteer and/or contribute by sharing in the conversation on Facebook here.
Erinn Morgan
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