2018 Issue 1 | GearedUp

Together with franchisees, staff and members, Planet Fitness has proudly contributed more than $ 3 million to JFG programming and made a proven impact for youth in need. As part of these efforts, in just two years, we have reached more than 750 Boys & Girls Clubs in all 50 states with staff and youth trainings; awarded $ 50,000 in scholarships to youth who promote acceptance and inclusion in their communities; and built eight Mini Judgement Free Zone ® fitness centers( and counting!) in Boys & Girls Clubs, giving youth the ability to exercise in an encouraging workout environment.

Giving back is the right thing to do and, with it, comes many business benefits. For those franchise groups considering getting involved for the first time, or for those looking to deepen their impact, the upside is clear.

Demand. Increasingly, socially conscious consumers expect brands to positively contribute to society, with 70 percent of Americans surveyed as part of Cone Communications’ 2017 CSR Study stating that brands have an obligation to take action on social issues. Additionally, 30 percent of consumers worldwide are reporting that they make more belief-driven purchases than they did even just three years ago, according to Edelman Earned Brand.

Reward and Differentiation. Brands that are perceived as having emotional, rational and societal benefits average an

11 percent lift across consumer behaviors, with consumers being more likely to share their content and recommend them to others, according to Edelman Brandshare. Additionally, with all other factors being equal, consumers are more likely to purchase from businesses that give back, compared to their competitors.

Recruitment. Millennials want to work for businesses that drive social impact, with two-thirds reporting that they won’ t consider working for a company that does not have strong corporate responsibility commitments, according to a Cone Communications study on millennial employee engagement. Additionally, 55 percent of those surveyed by Cone report that they would choose to work for a socially responsible company, even if the salary was less!

Retention. Once hired, employees are more likely to be loyal to their employers when they feel that they can make a positive impact on social issues through work. Research by The Energy Project shows that employees who derive meaning and significance from their work are more than three times as likely to stay with their organizations. Further, with studies like those conducted by Millennial Branding showing that it costs an average

of $ 15,000 to $ 20,000 to replace each millennial employee, the importance of retention cannot be overstated.

Engagement. by Dineen Boyle Eighty-eight percent of people surveyed by Cone report feeling that their job is more fulfilling when they are provided opportunities to make a positive impact on social issues. Additionally, CEB research states that committed employees are estimated to put in 57 percent more effort than their less-engaged colleagues, and Gallup notes that engaged organizations report 22 percent higher profitability. These figures demonstrate that activities such as volunteering are valuable beyond just being a feel-good, teambuilding exercise – they make a positive impact on our communities and have tangible business benefits – a win-win!

Shareholder Value. Companies that stand for something bigger than themselves perform better than their peers, with Havas Media Group’ s Meaningful Brands Study reporting that brands that focus on improving society outperform the stock market up to 133 percent. Tax Benefits. As Charity Navigator, America ' s largest independent charity evaluator, points out, a gift to a qualified charitable organization, such as your local Boys & Girls Club, may entitle you to a charitable contribution deduction. Please consult with your tax advisor for details.

The bottom line: We stand to do well by doing good! G

Dineen Boyle is manager of Corporate Social Responsibility for Planet Fitness.

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