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.

6%…The percentage of profits small businesses donate to charities.

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