Businesses
For businesses, corporate social responsibility (CSR) represents a commitment to business practices that ensure the long-term health of their company, employees, the environment and the community. Today, this is increasingly important as many consumers place more value on a company’s reputation than on the perception of their products. Implementing a successful CSR program enhances a company’s reputation by positioning it as a business interested in more than just the bottom line.
Many CSR programs include corporate giving and volunteer components which often outline areas of support that are similar to the values of the company. They may also include the avenues for support such as sponsorships, cash and in-kind donations, employee giving and matching, as well as volunteerism. While it is imperative that you have internal participation for the program to be a success, you also need to encourage external involvement. This may involve a proposal process for nonprofit organizations seeking financial or volunteer assistance. The proposal process gives you the opportunity to set expectations with the nonprofit(s) you choose to support in terms of reporting outcomes and how you would like your business to be involved.
Nonprofits
For nonprofits, CSR programs represent an opportunity for corporate fundraising and volunteer support in a new environment. There is increasingly more information available online about businesses, including their CSR plans, areas of support and the proposal process to gain support. While it may feel overwhelming to investigate multiple CSR programs, precious resources (like time) can be preserved by reaching out only to companies who have CSR programs aligned with your specific mission. If you target the businesses just as they are targeting the causes they support, you are likely to build a more successful case for assistance and a better partnership.
Once a relationship has been established, effective communication is the key to strengthening and maintaining the relationship. Understand the information the business wants in regards to their contribution and be sure that your organization can provide it in an accurate and timely manner. Allowing business supporters the opportunity to see and experience the work accomplished through their corporate support is another way to add meaning and depth to the relationship. The stronger your relationship with donors, whether financial or volunteer, the more likely you are to retain them as long-term supporters and advocates.
Implementing a strong CSR program that is clearly communicated, both internally and externally, will increase a company’s competitive edge, positioning it for lasting success. At the same time, nonprofits are provided the opportunity to actively pursue and maintain long-term donor relations with businesses who align with their missions. The more businesses and nonprofits work together through these focused programs, the more robust communities and healthy economies they can help build. While many may view the donor-to-nonprofit relationship as give-and-get, the elements of CSR clearly support an exciting alternative – a win-win.
Phoebe Krueger is an assistant vice president and relationship banking officer at Pacific Continental Bank. She can be reached at phoebe.krueger@therightbank.com.
{jathumbnail off}
