By Paul Polizzotto, Founder & CEO of Givewith
This piece is shared as part of Pledge 1%’s #GivingTuesdayNow campaign, which highlights how Pledge 1% members and the business community are coming together as a force for good to combat COVID-19.
In the wake of COVID-19, companies are looking for a solution that supports their customers, clients, and communities, while also solving the complex and critical business challenges they’re now facing. Whether it’s continuing to drive sales, engaging a dispersed workforce, or managing investor expectations – the reality of COVID-19 is that it’s putting the vitality of businesses in jeopardy too.
At the same time, the nonprofits on the frontline of the crisis are being asked to do more with less. Now more than ever, nonprofits need funding to address critical issue areas including health supplies, nutrition and food access, children’s education, and more. It’s time for the business community to step up and fill these funding gaps in a way that doesn’t shrink their profitability but actually generates value for their organization. This is the only way we can create a sustainable funding stream that doesn’t run the risk of depleting.
That’s why Givewith has developed a COVID-19 Response Initiative, allowing companies to route a small percent of their business-to-business transactions to pre-vetted nonprofits supporting those affected by the crisis.
Sales teams can easily add Givewith to their proposals, differentiating themselves from competitors to close deals and retain customers. On the flip side, procurement teams can add Givewith to their RFPs to generate more business value,enhance their role as a social innovator within their company, and build stronger relationships with their suppliers.
In return for closing deals with Givewith, both the buyer and supplier will receive valuable assets for their business. This includes metrics on the services provided to people in need during the crisis and a variety of high-quality storytelling content including videos, photos and press releases. Both companies will receive support from Givewith’s dedicated customer success team to help communicate the impact to customers, employees, communities, and other key stakeholders. In fact, research by BCG shows that companies that use these assets can see an increase in employee engagement and retention up to 5% to 7% – a boost in Net Promoter Score (NPS) by up to seven points – and positively influenced environmental, social and governance (ESG) ratings.
To illustrate our commitment, Givewith is providing full business value to buyers, suppliers, and other stakeholders at no cost.
To ensure the health and longevity of companies and their communities, we need new social impact solutions that deliver growth and value for businesses, while also creating a robust and sustainable funding stream to address the fallout from COVID-19 as well as systemic issues like climate change, educational inequality or disparities in wealth. The time is now for companies to step up. Businesses’ responses today will determine our tomorrow.