Recent reports suggest that millennials are ready to support brands that support social and environmental causes. In other words, the younger generations are driving the social responsibility movement across the globe. At this point, we would like to point out that the millennials comprise about $2.45 trillion in purchasing power. That usually represents a significant portion of a company’s sales and overall brand message.
Over the last couple of years, several companies have come up with CSR campaigns that have attracted the attention of millions and won multiple Cannes Lions. While corporate donations help the social and environmental causes greatly, it is not enough to drive the change at a granular level. Having corporate Charity Team Building Events once or twice a year can help create a better tomorrow as well as foster integrity within your office team. In addition to making charitable donations every year, your employees should be able to dedicate some time and effort towards making this world a better place.
Here are the top three benefits of charitable teamwork you might want to consider –
Boosting employee morale
Donating money and dedicating time as a team helps boost the morale of an employee to a significant degree. When you choose to donate, the workplace culture of your company can improve along with the general positive attitude among the employees. According to a Deloitte Study from 2016, millennial workers are twice as likely to rate their office culture as positive in case their companies take an interest in community work. Being a part of something more than a 9-to-5 desk job makes the employees feel good, and it increases their attachment to their company.
Building a better community
When hundreds of smart and able individuals get together for a cause, they can create wonders. Charitable contributions may have several benefits, but helping out special needs children with soft toys or helping members of mobility assistance groups out definitely helps to improve community bonding. Charitable donations help in the improvement of your community. For example – corporate donations and charity events can provide safe drinking water to hundreds in third world countries, or they can offer improved mobility options to the physically challenged individuals in your locality.
Deduction of taxes(Article Continues Below Advertisement)
Maybe your employees are already putting in the maximum effort at work, and you are getting the highest level of productivity from them, but all companies can do with a little help on the tax front. Corporate donations can help in reducing taxes significantly. Donating lump sums to charity can be frustrating, especially if you are giving to a charity that works in a foreign country. However, the tax benefits are quite apparent, and they are quite rewarding. Even when quarterly reports seem bleak, you can derive a little ray of sunshine from the tax deductions that come from sponsoring events and charities.
Team building through charitable events adds a greater meaning to the daily work. It is a great way to break the ice and a brilliant method to bring people together for a noble cause.Wake up Right! Subscribe to our Morning Briefing and get the news delivered to your inbox before breakfast!