What to consider in CSR partnerships
It’s natural to want to give back.
So if you run a successful business, you may be thinking of ways to achieve this.
Partnering with a charity can be an important step.
But it’s not a process you should rush.
Finding the right charity to partner with will ensure a collaboration that’s successful for both parties.
This article will look at the benefits of establishing a charity partnership, as well as how to ensure you choose a partner successfully.
The benefits for businesses of partnering with a charity
Partnering with a charity can have a significant positive impact for businesses. As well as the opportunity to give back, such partnerships can improve brand reputation, since they are a strong indicator of a company’s values and ideals.
In addition, they provide opportunities for employees to engage with their business’s mission in a broader, more holistic sense. Arrangements that involve volunteering opportunities can also help employees to develop new skills or use their talents in novel settings.
Working alongside a charity can also connect companies to their community, raising visibility and forging new connections with people that may well be potential customers now or in the future.
The benefits for charities of partnering with a business
Meanwhile, there are several positives for the chosen charity as well. They don’t just receive fundraising opportunities. There’s also the potential for increased awareness thanks to publicity from the business.
They might also gain new pools of volunteers, and with this may come access to specialist skills that the charity doesn’t otherwise possess. Depending on what kind of business they partner with, they might also discover opportunities to gather surplus products or donations.
How to find the right charity partner
So now that you understand the value in partnering with a charity, how do you ensure that you select the right one? Creating a partnership that works for everyone is key, and it largely comes down to good communication. Here are our 5 quick tips:
Align your values
First and foremost, your choice of charity partner says something about your business. It’s important that message fits your image and the charity’s cause.
As an example, if you’re a restaurant with a meat-heavy menu, then a partnership with a vegan charity focused on animal welfare may seem a little hypocritical.
Instead, consider what your business is passionate about and look for charities that support similar causes. A cleaning business with a focus on using natural solutions might find that an environmental charity can provide not just allyship, but perhaps new ideas as well.
Find the right scale
If you run a small or medium-sized business, partnering with a large international charity might not be the perfect fit. They might not have the opportunities to offer your business, while your support could make a far larger impact with a cause closer to home.
As such, matching the size of your business to that of your charity partners is a good way to ensure that the relationship will be beneficial and meaningful for everyone involved.
Choosing local charities is also a great way to engage with the community around your business, helping you forge new connections.
Carry out research
Don’t forget that even though partnering with any charity may seem like a good idea, your business’s reputation is still at stake when you do anything in the public eye. Finding a great fit will bring so many more benefits and avoid any undue risks.
Look at a charity’s mission statement, their presence in your community, and any existing links they might have. Attending an event of theirs could be the perfect way to get a feel for their operations and introduce yourself.
Involve your team
Your employees are a key part of your business and its culture, and may well get involved with your chosen charity through volunteering opportunities. As such, including them in the selection process is the perfect way to build buy-in, accountability, and engagement when it comes to your charity partner.
Talk to your employees about the values they feel proud of within your organisation, and find out if any have causes close to their hearts that they’d like to support. You might even learn of existing connections with local charities, which can make the process easier.
Don’t forget to carry out thorough research even for recommended charities. You want to ensure that the process you go through is fair and transparent regardless of who you end up choosing to partner with.
Establish a clear policy
Once you have chosen a charity to work with, transparent and frequent communication will make for a successful partnership. Agree on what information will be shared on fund allocation and impact reporting, as well as how the relationship will be monitored and assessed.
Check your employee policies around volunteering days and update them if necessary to reflect any new arrangements. Hopefully your new charity partnership can be a long-term success for both parties!