October 10, 2024
The benefits of giving beyond monetary donations
There’s no doubt that businesses and individuals are feeling the pinch. What might surprise you is that in 2023 there was a record £13.9 billion donated to charity by the UK public (up from £12.7 billion in 2022). It will be fascinating to see if the figures continue to rise during 2024, but while financial donations remain essential, it’s important to recognise the significant impact of non-monetary contributions. Good people still want to do good, even if they can’t afford to donate as much money as they would like to.
We’re going to take a look at the various ways to give and how these contributions can be just as valuable, if not more so, in times of economic hardship.
Volunteering time and skills One of the most powerful ways to give back is through volunteering. Businesses can encourage their employees to volunteer their time and skills to local charities and community projects. Whether it’s providing professional expertise, participating in community clean-ups, or mentoring disadvantaged youth, these efforts create tangible benefits for those in need. People feel great when they help others, and NCVO’s 2023 Time Well Spent survey illustrates this, with volunteers reporting positive impacts on their lives such as enjoyment (89% of respondents), making a difference (89%), a sense of achievement (88%) and increased social connection (87%). Volunteering builds a sense of purpose and engagement among your teams, boosting morale and building stronger connections within the community.
Donating goods and services Another impactful way to contribute is by donating goods and services. Businesses can offer surplus inventory, office supplies, or even pro-bono services to charities and community organisations. For instance, a marketing firm could provide free advertising services to a local non-profit, or a restaurant could donate meals to a homeless shelter. These contributions can significantly alleviate operational costs for charities and enable them to direct more resources towards their core mission.
Engaging in community projects Businesses can play a vital role in local community projects. From sponsoring local events to participating in neighbourhood improvement initiatives, businesses can use their influence and resources to drive positive change. This type of involvement builds connections with a business’ local community and strengthens its reputation and relationship with local stakeholders.
Employee-driven initiatives Encouraging employees to spearhead their own charitable initiatives can lead to creative and impactful ways of giving. Businesses can support these efforts by providing resources, time, and platforms for employees to organise fundraisers, charity drives, or awareness campaigns. This approach empowers employees, builds a culture of giving, and generates diverse ideas for community support.
Leveraging the IIC platform Investors in Community (IIC) offers a comprehensive platform to manage, measure, and report all forms of giving. Businesses can use the IIC platform to record volunteer hours, track donated goods and services, and report on community project involvement. The platform’s Community Credits system quantifies these contributions, providing a tangible measure of Social Impact. This transparency builds trust with stakeholders and showcases the real impact of the business’s social responsibility efforts.
Measuring tangible impact The IIC platform enables businesses to see the direct results of their non-monetary and financial contributions. Detailed reporting tools help businesses understand the value of their efforts and communicate this impact to employees, customers, and investors. By highlighting the breadth of their social impact, businesses can demonstrate their commitment to sustainability and social responsibility, even in economically challenging times.
Giving is about so much more than just money. Businesses can still make significant Social Impact through volunteering, donating goods and services, engaging in community projects, and supporting employee-driven initiatives. The IIC platform helps businesses track and showcase these contributions, ensuring that every act of giving is recognised and valued. By broadening our understanding of giving, we can all continue to support our communities and create a positive social impact, no matter our financial situation.
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Meta Description: Discover how businesses can make a significant social impact beyond monetary donations. Learn about volunteering, donating goods, community projects, and how the Investors in Community (IIC) platform can help manage and measure these contributions.
Keywords: social impact, non-monetary donations, volunteering, donating goods, community projects, employee engagement, IIC platform, social responsibility, sustainability, business giving, community involvement
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Despite the economic squeeze, last year the UK public donated a record £13.9 billion to charity. Giving isn’t just about the money, though. Businesses can significantly impact their communities through pro bono work, volunteering, donating goods and services, and engaging in local projects. Learn how the IIC platform can help you measure and report your teams’ contributions effectively, showcasing your Social Impact in a uniquely transparent way.
How is your business making an impact beyond monetary donations?
#SocialImpact #CommunityEngagement #BusinessGiving #IIC #ESG
