Companies giving back to their communities isn’t just altruism – it’s smart business sense

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Consumers want to understand a company’s altruistic side, and it impacts their loyalty

The employee connection

Employee retention is the other edge of the recruitment coin and philanthropic efforts serve to empower employees and set a positive foundation to go beyond just the job. To that end, all staff can be part of these efforts themselves, and co-lead decisions around CSR involvement. These efforts are best considered a team initiative, rather than top-down decisions – and it will pay off by boosting morale and reducing the risk of turnover.There is but one way to approach all this: authentically.

Philanthropic strategies are most authentic when they are aligned with business operations. At COBS Bread, we donate all leftover bread and baked treats through our end-of-day giving program to support the community in need – $60-million worth of product in 2020 alone. We feel we have an obligation and the means to give back, and it’s part of our DNA to find a home for every last loaf.

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Philanthropy is the illusion of caring instead of paying living wages and fair taxes.

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