Doing Well by Doing Good.
Thirty years of research regarding corporate "social performance" tells us something business owners and managers should know. In the majority of studies it is found that social performance has a positive effect on company financial results.
Breaking it down, one might ask, all things being equal, would a person prefer to work with, or purchase from a company that supports their local community, the environment, affects a positive impact in the world? Evidence points to that answer being yes.
At the Suffolk County National Bank (SCNB), we feel our corporate responsibility strongly. Not only is our philanthropic program among the most impactful in our markets among all community banks headquartered on Long Island, corporate responsibility is engrained in our corporate culture. In fact, in 2011, SCNB employees collectively logged 16,059 hours of volunteer community service work. Our clients tell us that they feel good about doing business with companies that support initiatives in their communities that foster both quality of life and economic viability. They appreciate standing shoulder to shoulder out in the community with us. We, at Suffolk, are very proud of this tradition, and are pleased to see corporate "betterness" valued more broadly.
To read the full post, "Business Isn't As Profitable As Betterness," click here.
Past Viewpoint Postings
Quality counts. Substance trumps form, and other lessons.
Tips for Success. Simple yet sage advice for success in 2012.
Partnerships. Value in technology business partnerships.
Planning. Start your project right.
Service Culture. What your customers really want.
Move Your Money. Commentary.
Viewpoint for your business posts are presented to provide information and perspectives pertaining to business, and specifically issues considered pertinent to readers interested in business trends and ideas. As such, readers recognize that posts are not intended to represent "business advice" from Suffolk County National Bank or any of its subsidiaries.