BUSINESS REVIEW AUSTRALIA their vital services . Many receive little or no government funding , and hence rely on funding from companies ( and individuals ), so I believe there to be a moral obligation for companies to give back . Thankfully , many companies are already doing this .
It is also very important from a Corporate Social Responsibility standpoint to assist the communities within which companies are deriving profits . Consumers , staff and the public at large are unforgiving critics when it comes to this ( particularly Gen Y ’ s ), and it is well accepted that a company ’ s social responsibility and actual support for social causes are key deciding factors in brand selection , as well as essential factors in staff engagement and retention . Companies “ do well by doing good ” and it makes great business sense for companies to be visible in their support of charities . I don ’ t see a lot of drawbacks . Compared with company revenues and overall costs , this is only a small cost . At the end of the day , we just need to remember that people are watching our companies , and they are busy judging .
What leadership advice would you give the current c-level executives of Australia ?
Research clearly shows that companies that are doing social good are benefiting . It is not just simply something that makes company executives feel good about themselves . When done right , it is a powerful , proven way to drive more business and to build brand awareness and engagement . It drives consumers to select their brand , appeals to existing customers , builds staff engagement and helps attract and retain talent .
My leadership advice to our c-level executives is to take advantage of this tremendous win-win opportunity to help the community and create shareholder value . This can be done by directing more funds to support the community , or by using a platform like Givematcher to drive additional value and social good from your company ’ s existing philanthropy budget , or preferably both . You get to feel good about yourself as well !
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