Even big corporations are beginning to understand that giving is profitable, both because it’s the right thing to do, and frankly, because it’s good business. Everyone benefits—employees, customers, and the bottom line.
Bea Boccalandro, author of Do Good at Work: How Simple Acts of Social Purpose Drive Success and Wellbeing, has spent decades researching the impact doing good has on employees and business. Bea says studies show that “Those who feel their work does some good for the world have increased employee engagement—meaning they put more effort into their work—as well as increased productivity and retention.” At the Canadian company Manulife Financial, an internal study discovered that employees who felt like they were helping others as a part of their workweek had 60 percent less turnover than those who didn’t. Research even finds that people are more creative and more optimistic if they feel like they’re working for something larger than themselves.
Companies ignore this reality at their own risk. Brands that don’t take giving seriously can count on their employees being de-motivated. “They’ll underperform, they’ll be dissatisfied, they’ll be disengaged, they’ll have higher turnover, and they’ll sell less,” Bea said. “And, by the way, they’ll probably steal some supplies too.”
It’s well known in the corporate world that consumers feel more positive about their buying experience when they know that at least a part of the purchase price is going to a good cause and is having a positive impact. Sometimes, like with the sock company Bombas, giving is in the form of donating the company’s product to those who need it most. For every purchase, Bombas donates an item on the purchaser’s behalf. Since its founding in 2013, the company has given away more than fifty million items to over 3,500 community organizations. And that’s just one of thousands of examples of corporate America giving back. For other companies, it’s everything from lowering their carbon footprint, to supporting health and educational services, to helping veterans reenter the civilian workforce.
