Businesses have a significant impact on society, and many are choosing to use their resources to make a positive impact. By investing in social good programs, companies can create a better world for everyone while oftentimes boosting revenue and brand awareness as well. Here are six social good programs that businesses can do to make a difference.
1. Employee Volunteer Programs
Employee volunteer programs allow companies to give back to their communities and encourage their employees to do the same. According to a study by Deloitte, 89% of employees believe that companies that sponsor volunteer activities offer a better working environment than those that do not. An example of a successful employee volunteer program is IBM’s Corporate Service Corps, which sends employees to developing countries to work on projects that benefit local communities.
2. Sustainable Supply Chains
Sustainable supply chains are becoming increasingly important in today’s world. By ensuring that their suppliers are environmentally responsible and socially ethical, companies can have a positive impact on the world. A report by CDP found that companies with sustainable supply chains are more profitable than those without. An example of a company with a sustainable supply chain is Patagonia, which has a program called the Footprint Chronicles that allows customers to see the environmental and social impact of each product.
3. Charitable Donations
Charitable donations are a simple way for companies to give back to their communities. According to a study by Cone Communications, 87% of consumers will purchase a product because a company advocated for an issue they cared about. An example of a company that makes charitable donations is TOMS Shoes, which donates a pair of shoes to a child in need for every pair of shoes purchased.
4. Socially Responsible Investing
Socially responsible investing (SRI) allows companies to invest in funds that are environmentally and socially responsible. According to a report by Morningstar, SRI funds have outperformed traditional funds over the past 10 years. An example of a company that engages in SRI is Microsoft, which has a program called the Carbon Fee that charges each business unit for its carbon emissions and uses the funds to invest in renewable energy.
5. Carbon Neutrality
Carbon neutrality is achieved when a company’s carbon emissions are offset by investments in renewable energy or carbon credits. According to a report by the Carbon Trust, companies that achieve carbon neutrality have a competitive advantage over those that do not. An example of a company that has achieved carbon neutrality is Ben & Jerry’s, which sources its energy from renewable sources and invests in carbon offsets.
6. Diversity and Inclusion Programs
Diversity and inclusion programs help companies create a more equitable workplace and promote social justice. According to a study by McKinsey & Company, companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians. An example of a company with a successful diversity and inclusion program is Salesforce, which has a program called Trailhead that provides free online training for underrepresented groups in technology.
Overall, social good programs can have a significant impact on society and the environment. By investing in these programs, companies can create a better world for everyone while also improving their bottom line. But to make all of the above efforts becoming more visible to customers and partners, brand require a way to seamlessly tell their stories.
Gratitude can help. Gratitude enables businesses to become transparent by being powered by blockchain technology, with easy-to-use tools to record their supply chain, narrate the story, verify on blockchain and present the data in a beautiful landing page that can be issued via Gratitude’s QR Code or URL that can be placed on a physical product or embedded on digital marketing campaign. Customers can then simply scan the QR codes placed on the product or click the link on a digital campaign and clearly see the product’s journey, verify sustainability claims, or any supply chain data that the company wants to reveal to the customer.
Begin your business’ true transparency journey by implementing Gratitude to unlock the hidden value of your supply chain data. Talk to our representatives via the following channels for support or assistance in implementation:
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