When did you last review your end-to-end operations and really assess how generous you are as a business? Likely never.
Generosity is an essential factor that determines the type of attachment people have to your business – and whether they’ll feel a sense of connection with you both now and into the future. It relates to not only your external relationships with clients, but equally to the relationships you are creating with your staff. Generosity begins at home, or in this case, in the business.
Today I’ve covered some of the ways you can demonstrate this culture of generosity – and why it makes good business sense to do so.
Caring for your team
You’ve no doubt heard the saying “charity begins at home”. The same applies to your business. Ask yourself: When was the last time I sat down with key members of my team and assessed how generous we are with our staff? You probably haven’t, after all you pay them, so what more do they want? As disturbing as this outdated thinking is, there are plenty of organisations that take this view to their detriment. As American leadership author Jon Gordon says, “Great leaders don’t succeed because they are great. They succeed because they bring out the greatness in others.” The same can be said of companies.
It’s likely that one of your business’ values is care for your customers. This care also must extend to your team. As marketing strategist Leo J. Bogee III advises, “Give value, give opportunities, give satisfaction, give praise, give encouragement, give joy. You’ll be shocked at the bounty that returns.” Check out my recent post on improving staff buy-in for examples of ways to show you care about your team.
The value of giving back
While caring for your team will yield happier, harder working employees, it is giving back to your customers that will generate sales and create loyal customers. Whether it’s a simple handwritten thank you note, a birthday voucher thanking your customer for their patronage, an invitation allowing them to sample a product with no strings attached, or something more elaborate, ensuring your customer feels valued is key.
According to Gartner Inc., in only a few years 89 per cent of businesses will compete first and foremost on their service delivery and customer service experience. This means that, increasingly, generosity needs to become a focus. The cardinal rule? Your generosity should always add value to your client’s experience.
Social responsibility
We know that customers are increasingly turning to companies that are good global citizens. This is particularly true of younger generations. As Jiffy Junk LCC Managing Member Adam Butler asserts, “As businesses work hard to establish a brand identity, social responsibility and charitable support need to factor into who we say we are.”
When giving back as a company, factor your customers into your decision making. Engage your clients in a conversation to identify what social responsibility means to them, and who and what causes you should be giving to. Remember, it is never about you! Matching funds giving – where businesses match individuals’ donations – is one successful strategy that promotes giving among consumers, and highlights a culture of businesses giving back.
The power of generosity
A culture of generosity through giving back to the community and consumers can help to set your business apart, and also demonstrates the power of gratitude. One guiding rule? Ensure that what you are giving is appropriate and fits with your brand. For example, if you are a premium brand, value-adds and gifts should reflect this.
Some companies foster a culture of giving through subsidised volunteer hours for their employees. Nonprofits Source found that in the United States 60 per cent of the companies they surveyed offered paid time off for employees who volunteered with non-profits. They also found that employees who volunteered during work hours also felt a greater sense of loyalty to their employer, and developed leadership skills in the process.
Setting yourself apart
I recently wrote about my time working at The Body Shop, and the lessons I learnt from Dame Anita Roddick. The company fostered a culture of care and giving that hasn’t really been replicated on this scale since. However this culture of care and activism was a significant driver for many consumers that really set the brand apart.
Depending on your brand and clients, this culture of generosity can be represented in a variety of ways. It could be through extra product, value-adds such as free workshops, or the opportunity to try a limited release product before it launches to the market. It could be flexibility in how you deliver a service, or an invitation to a special networking event. You don’t need to spend a lot of money; what you give just needs to be seen as useful to your client.
Remember that the relationships we have with our staff and clients are like our personal relationships. If they are not nurtured and prioritised, people tend to look elsewhere. Good, loyal customers can be hard to find, so make generosity a priority for you in 2019 and beyond. Happy giving!