Corporate Stewardship and Reputation Management
We’ve all heard the phrases “do well by doing good” and “what you give comes back to you tenfold” and their variations. But seldom has this been more true than in corporate sustainability and community outreach efforts. A key part of any company’s relationship with its stakeholders, whether internal employees or external shareholders, is its reputation. Research suggests that corporations who give back to their communities in the form of time or money earn greater loyalty from their employees and from the community as a whole. Numbers back this up — less absenteeism, higher productivity, higher sales, etc.
Preliminary evidence suggests that many of the stewardship programs created in boom times have lagged in our current economic situation. In the pursuit of elusive profits, corporations have cut direct contributions to non-profits along with volunteer days, sponsorships, marketing programs with community outreach efforts and other forms of corporate giving. When non-profit support declines, both communities and company reputations suffer.
Now, more than ever, philanthropic donations and community involvement are needed to sustain non-profits. When people lose access to the arts and culture, or to services that are beneficial or necessary, the communities in which they live become less attractive. That makes it harder for companies like yours and mine to recruit and maintain a talented and educated workforce.
Think about how stewardship builds business relationships. Partnerships with local non-profits and other community organizations can help your company find new business opportunities in all types of economic landscapes and help the community from which you derive your workforce and, potentially, your profit, maintain and grow.
Contributor: Jennifer Umali
