Businesses that have gone local continue to benefit from supporting the community projects as well as other charitable activities. They are able to contribute to the good reputation of their company and hire employees with excellent professional skills. Let us take the case of JMRS – Pole Bams as an example. The company not only supplies all the metal roofing needs of their customers but also enjoy the connection with the local people that support the local services. This type of investment will improve the company’s reputation with the customers, the employees, and even potential investors.
When people buy at a local store, a great deal of money remains in the community, hence the improved local economy. In fact, a study revealed that a $100 spent at a local store will ultimately give the city a generous cut of $68. Regardless of the support given, either educational or financial, the long-term benefit of helping community initiatives is shown through the local economy.
As the business invests in local communities, they are more likely to hire skilled employees, considering that charitable initiatives can bring out a variety of positive qualities from people. Not only does it enhance specific skills like managing a project, it also gives chance to be more responsible. The employees can also develop the capacity to connect with a larger group of people. Goodwill among people will also come out, creating good relations with a number of helpful people when local initiatives are supported by the business. When this happens, your employees may even meet your potential suppliers and customers, and even learn some new things about the local trends and tastes based on an insider’s view.
Investing in local communities will give your employees the chance to spend their non-working hours in sharing their skills to worthwhile activities of their choice. As such, the level of job satisfaction increases and their attachment to the job will also be strengthened. Because in reality, people give more importance to these types of emotional benefits than the rewards of a huge salary.
Engaging in social activities will attract more consumers by 88 percent according to a UK study. When your business makes charitable donations for every sold product, you also get the attention of the public-sector buyers who always find cause-oriented marketing as very impressive. Thus, sales increase becomes inevitable. The good news is that the more you grow your sales revenue, the less amount is used in marketing. Having good relations with the community means getting a good recommendation, which saves you from spending much on marketing tactics. Moreover, the company’s recruitment becomes more efficient as potential recruits with a social agenda on their minds will be drawn to your business. These are the type who directly come to the company, which means no need to spend money on ads.
As the potential investors become more interested in issues related to corporate social responsibilities, your business’ social credentials should all the more be taken into consideration when making investment planning. How you address these issues will determine the course of your business.