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Why is Corporate Citizenship Important to a Merchant Service Provider?

In Uncategorized on June 13, 2012 at 2:54 pm

In the fast-paced and grueling world of merchant services, why is taking a firm stand on the betterment of corporate outreach so important?  As many will argue, products and services will continue to be purchased on the basis of price, quality, and convenience, regardless of a company’s corporate social responsibility.  So, why continually invest in a component of your company that may not even result in immediate gains?

At TransNational, we believe it is our responsibility to serve and respect our communities as citizens of one world.  In doing so, we encourage employee involvement in community service and increase awareness for several local, national, and international non-profit organizations.  When corporate entities invest time, effort, and money back into the community, it doesn’t just show in that particular space.  Employees become impassioned in the work they do, knowing that they are working for a socially and environmentally responsible company; and clients and customers can take pride knowing they are partnering with a positive force in the community.

We do it for our employees:

Just like any company, in any industry, one of our top concerns is keeping our employees happy.  TransNational likes to hire talent that expresses passion and commitment to other facets of their lives.  We find that these employees are more likely to feel a sense of pride and fulfillment in their work and a sense of purpose working with other passionate employees in a company that supports both social and environmental causes.

A study conducted by Core Millenial Cause group, and highlighted by Jeanne C. Meister and Karie Willyerd in The 2020 Workplace, found that 80 percent of 13-25 year olds, out of a sample of 1800, wanted to work for a socially responsible company that regularly impacts and contributes to society.  More than half said they would refuse to work for an irresponsible corporation.  By 2020, 50 percent of the workforce will be comprised of these millennials.  Corporations that are already focusing on CSR and continually develop corporate outreach may have a leg up in recruiting this demographic over the next few years.

Being a socially responsible company also has its benefits in employee retention.  According to a survey conducted by the non-profit Net Impact, 53 percent of workers said that “a job where I can make an impact” was crucial to their happiness and 72 percent of graduating students agreed.  Over 50 percent would even take a pay cut to accomplish that goal.

*See full Net Impact Survey results here.

We do it for our clients:

In taking these environmentally and socially responsible initiatives, we hope our clients can recognize the impact we are making in our communities and will support our future corporate citizenship efforts.  We understand that just because a company has a CSR plan, does not necessarily mean that company will see an increase in profits.  Luckily, at TransNational we have the effective leadership in our executive suite to continually motivate and challenge employees, while stressing the importance of good customer service and client outreach.  When our clients are happy, we have succeeded.

But we acknowledge that many merchants searching for a merchant service provider don’t typically judge companies on community outreach programs or environmental initiatives; judgements are usually dependent on price and convenience.  Our CSR programs are in place to serve a greater purpose than client acquisition; however, we realize that firms in any industry may tend to gain a competitive advantage by voluntarily, or in our case, involuntarily, appealing to the growing number of socially and environmentally oriented clients.  We are thrilled to see this shift, but understand that it may take a while for us to sell the concept of our corporate citizenship being a competitive advantage in our industry.

We do it for our community:

As mentioned before, it is our belief that being a citizen in this world comes with a responsibility to care for and serve our communities, and that this responsibility does not fade as a corporation continues to grow.  TransNational makes it a priority to stay active in donating resources to our Chicago-land community, our international network, and anywhere in between.  Our leadership understands the responsibility we share as citizens and maximizes our outreach impact by leveraging our corporate resources to do good in the world.

Click here to see TransNational’s 2011 Corporate Social Responsibility Report!

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Sources used in this blog post:

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