This financial year, more than any, has shown the importance of a good reputation when it comes to the bottom line. Which begs the question – how are you going to end this year on a high?
Companies operate in a new world and it’s time to take notice. Social media and a 24-hour news cycle doesn’t just affect politicians and celebrities. It lends itself to powerful storytelling for whistleblowers, consumer activists and aggrieved employees, who now have a vehicle and a voice, to call out bad behavior.
This voice has shed light on exploding kitchen appliances resulting in a $4.5m fine for its owners for misleading and deceptive conduct. News of the emissions scandal traveled at lightspeed across the globe, seeing VW shares drop 23%. And the banking royal commission revelations of bribery, lying and money laundering has claimed several scalps at AMP and Commonwealth Bank, and the once strong Australian banking shares have tumbled by 6.5%.
The current climate is ripe for companies to embrace a different way of operating. The businesses who will come out stronger will be those who recognise that society and consumers are actively choosing companies who do right by their customers and give back to the community and the environment, not just shareholders.
Companies need to start doing good. Doing good by their staff and their customers will be good for business. And they can start right now, by making a pro-social gift at the end of the financial year. There is far more to be gained than a tax offset.
What can be better than a tax offset you ask? Find out in DoGoodology® – the Science of Doing Good, launched this week (18 June 2018). The research reveals that Pro-social spending – ie giving to social and environmental causes and charities – releases a chemical cocktail in the brain, known as “The Helper’s High”. When a company does good, this High is shared by staff, customers and stakeholders. In essence everyone feels good.
The publication, a world first 5 years in the making, compiles all the science and latest cutting-edge neuroscience from around the world, on the power of doing good. The publication reveals:
- Acts of altruism, or doing good, release a chemical cocktail of dopamine and oxytocin
- Dopamine (the pleasure or reward hormone) activates brain regions association with motivation and reward, the same regions activated by food, sex and money
- Oxytocin (the bonding or love hormone) makes you feel more connected and increases generosity, making the act of doing good self-perpetuating
- It is the joint activity of these two chemicals that result in the so called ‘Helper’s High’ (giving high, warm n fuzzies)
- Very few acts can prompt the release of these hormones – only childbirth, breastfeeding, sex and doing good (so men you are at a disadvantage)
- Acts of altruism increase life satisfaction, improve physical health, help us to live longer and provide a greater sense of purpose
- Humans are hard-wired to do good
- Doing good makes us happy
Dr Fiona Kerr, leading scientist and author, says “this [Dogoodology® – the Science of Doing Good] is an important publication with a very simple yet profound message”.
When I was a high-flying and selfish corporate marketer in London, I had no idea about the ‘Helpers High’. It was only when I started travelling to seek something more meaningful, that I ended up at Mother Theresa’s mission in India and was intrigued by the nuns who worked there – they had nothing in a material sense and yet they were the happiest Id ever seen! That was the turning point in my career – I began working with non-profits and when I came to Australia I began matchmaking companies to charities for mutual benefit. I strongly believe that companies who focus on doing good by their staff, community and the environment will be the companies that survive into the future.
Consumers are tired of corporate greed and they will actively reward companies that show that they care about more than just making profit. Consumers will buy and recommend their product, staff will want to work for them and communities will welcome them with open arms.
Australia is crippled with social problems. Alcoholism and drugs and the resulting social violence is at an all-time high. We’re the 5th most obese nation in the world, we have skyrocketing rates of depression and suicide, companies are plundering the environment for financial gain…you don’t have to look far to see that pursuing profit with no accountability has created a society in chaos.
By spending our money in pro-social ways, companies can start to solve some of these societal problems and in turn spread the happiness virus. Also it’s not just giving money. Volunteering your time & expertise and championing a cause creates the very same chemical reaction. Your company can make the first step towards doing good today – and end this financial year on a meaningful High.
The publication DoGoodology® is available completely free from our website. No payment, no data capture – yes completely free! www.cavill.com.au/dogoodology/