Philanthropy: Another Form of ROI

By

As an OTC owner, you often wonder, “What is the return on investment (ROI) when purchasing products for your store?” You are constantly counting, trying to figure out how much money you will get back if you invest in a certain amount of products or services. As an owner, realize it is not always about the monetary return; sometimes it is about the ethical, social conscience that improves the welfare of others.

Living in a world where students from every age group lack education, the sick and disabled are fighting to bring public awareness to specific health risks, and humanitarians are working in other countries to build and sustain environments, there is a broad range of charities and philanthropies that companies can partner with to increase the well-being of humankind.

Universal Beauty Products, Inc. (UBP) takes pride in giving back to the community and generously donating with concern for human welfare and advancement. Monetary donations, products and quality time have been given to organizations such as Midwest Baptist Church and Cornerstone Fellowship Church School scholarship. Hearts, minds and cultures have been changed because of this act of humanitarianism.

These contributions are more than corporate social responsibility. UBP creates value for its executives and employees as well as its suppliers, strategic partners, local communities and customers. Philanthropy nurtures the core set of values helping employees and community members connect emotionally with the company.

Shelling out cash is a great gesture, but integrated giving has become a part of corporate processes and purposes to make not just a donation but a difference. Companies should leverage a broad range of philanthropies or charities as well as corporate channels and resources. Often times, attention is given to social inequities addressing wealth, improving health, education and research.

The recent annual Giving in Numbers survey led by the *CECP concludes that 56% of companies increased their total giving from 2012 to 2014. The survey points out five key ways your company should be approaching giving:

  1. Measure what counts: 85% of companies measure the impact of their community programs.
  2. Innovate new ways to give: Increase the number of innovations including cross-company collaborations, new product development and impact investing.
  3. Drive performance through purpose: Companies with the strongest business performance grow by giving the greatest rates.
  4. Elevate the role: Honor the role of investment staff by protecting their contribution and its importance.
  5. Apply the skills of the company: Leverage employees to contribute to the company’s professional skillset.

 

These five ways demonstrate how companies can continue giving by merging their business missions with their roles as corporate citizens to help make a difference. Corporate philanthropy can include donations of money or of time and labor in the community to improve projects or raising money for a cause. Circulating money in your community can increase the company’s future revenue by income potentially being spent at your business.

Communities like to see the goodwill created through corporate philanthropy because it increases their interest and favorable opinions of the company. It return, the “givers” benefit by enhancing their happiness, creating positive attitudes and a life of satisfaction. This helps bring about change in a way that benefits everyone. Contributions, whether within your company or the community, of any sort are seen as life-changing resources that improve lives and strengthen communities. Be a part of the change you want to see.

 

*CECP stands for Committee Encouraging Corporate Philanthropy.

——————

ReGiaDavis

ReGia Davis holds a degree in Public Relations and Marketing from Georgia Southern University. She started her career as a Junior Brand Manager of natural haircare brands for Professional Products Unlimited, Inc. She has also written several articles for OTC Beauty Magazine. ReGia is currently a Marketing Assistant and researcher with Universal Beauty Products, Inc.

You may also like

Stay in the Know!

From the newest products to the latest in acquisitions and mergers, if you want to be in know of what’s going on in the multicultural beauty industry, you’ve come to the right place!

Just sign up below and you’ll receive updates right to your inbox!

You have Successfully Subscribed!