Can being charitable and “giving back” attract and retain employees and increase customer loyalty? Research suggests that it does. Charitable giving also plays a role in employee reward and recognition programs.
A 2017 study by Accenture suggests that companies are wasting their marketing dollars on customer loyalty programs that don’t work like they used to. Loyalty is driven by other factors today, including support for brands that partner with celebrities or influencers with whom the customer identifies, and brands that share the customer’s values. The Accenture study reports that 37% of consumers are loyal to brands that support shared charities or causes. Of those surveyed, 72% of customers recommend businesses that they feel support worthy causes.
Giving USA reports that total U.S. corporate giving in 2016 totaled $18.5 billion. Do employees recognize and appreciate companies that support charitable causes?
Charitable giving helps companies to demonstrate their core values. When charitable events are organized, or employees are allowed paid time to volunteer, the company values are more strongly reinforced. These strong connections contribute to higher employee engagement and a strong corporate culture.
For decades companies including All Star Incentive Marketing have offered employee matching gifts, volunteer programs, annual giving campaigns (think United Way or Red Cross Blood Drives) and donations through payroll deductions. Companies are also finding ways for customers to contribute to charitable causes or organizations through their loyalty programs as well. Many credit card loyalty programs allow for points, miles or cash back to be donated to charities. Corporate reward and recognition programs are following suit.
When structuring an incentive program with All Star Incentive Marketing, clients may opt to include a selection of products from Helping Hands that recipients can redeem directly, supporting charitable causes in the process. Companies may also choose to offer charitable donation choices through a survey in the redemption process where the recipient can donate the value of their reward to a specific charity.
Facilitating ways in which employees can give back through corporate reward & recognition, loyalty and safety programs communicates and reinforces how company values are in alignment with those of their employees. This also extends the reward experience into the home and to the rest of the family. Likewise, consumer loyalty increases when retailers or service providers share the values of their customers.
Employees today are looking for more than a paycheck. They appreciate feeling recognized and rewarded as part of the corporate family; they are eager to contribute to a positive corporate culture. You’ll attract and retain the right employees and consumers when they understand that their employer or service/product provider has a purpose that extends beyond the bottom line.
To learn more about how you can incorporate charitable giving into your employee programs or consumer promotions, contact one of our Incentive Professionals today at 800-526-8629.