4 months ago

WHY should corporates adopt a purpose led approach to giving?

The Why, What and How of Purpose Led Corporate Giving This is part 1 in a three part series distilling our research and what we’ve heard around three key questions 1. WHY should corporates adopt a purpose led approach to giving? 2. WHAT does best practice, purpose led corporate giving look like? 3. HOW can corporates embed social purpose within their organisations?


GAINING LEADERSHIP SUPPORT Establishing a meaningful connection with consumers and your workforce provides the competitive edge to improve profitability and transform your organisational culture. We now know that being a responsible organisation that gives back makes good business sense, and that brand protection and market share depend on the extra mile a business is willing to go to for the benefit of its stakeholders. So how can an organisation like yours get leadership support for a purpose led corporate giving program? There’s no doubt that the numbers are important. The first two business case factors around customer loyalty and employee engagement speak to the rational part of our brain: the dollarised proof that demonstrates the benefits generated through purpose led change. And this has been proven. A study on S&P500 companies demonstrated that purpose led companies outperformed the market by a factor of 10x between 1996 and 2011 6 . The third factor of the business case speaks to the emotional part of our brain: put simply, it’s the right thing to do. People think rationally and make decisions emotionally. By understanding the underlying motivations of your leadership and stakeholders, you can support your rational fact base with a crafted story that engages their emotional side. We suggest you step in to the shoes of your leaders to understand what their motivators are. Every individual is different, but to get you started here are some of the common motivators for leadership within large organisations. 16

GAINING LEADERSHIP SUPPORT Craft your message around what your leaders care about CFO Head of CSR/Foundation CEO Head of HR Employees What interests your CFO What interests your Head What interests your CEO Staying one step ahead to lead the company into the future and maximise shareholder value Increasing shareholder return by improving customer profitability and operational efficiencies while reducing reputational risk What interests your Head of HR Being recognised as an employer of choice to attract, motivate and retain high calibre talent of CSR/Foundation Defining and embedding a community investment program that generates unprecedented social, environmental and corporate value What interests your employees Undertaking meaningful work that provides learning opportunities and exposure for career advancement Now you have the tools to construct your own business case, get started on making purpose led corporate giving a priority on your leadership’s agenda. In the meantime we’ll be pulling together Part 2 of the paper: WHAT best practice, purpose led corporate giving looks like. Stay tuned and sign up for our newsletter to get it delivered to your inbox. 17