1. It improves customers’ perception of your brand.

It’s increasingly important for companies to have a socially conscious image. Consumers, employees, and stakeholders prioritize CSR when choosing a brand or company, and they hold corporations accountable for effecting social change with their beliefs, practices, and profits.

“What the public thinks of your company is critical to its success,” said Katie Schmidt, founder and lead designer of Passion Lilie. “By building a positive image that you believe in, you can make a name for your company as being socially conscious.”

According to the Amazon Ads Higher Impact report, customers are increasingly using their buying power to support brands whose values they perceive as aligning with their own. To stand out among the competition, your company needs to prove to the public that it is a force for good. Advocating and raising awareness for socially important causes is an excellent way for your business to stay top-of-mind and increase brand value.

What’s more, research by Jump Associates demonstrates a direct correlation between perceived positive impact and financial growth. Purpose-driven companies provide shareholders with a 13.6 percent CAGR return over a 20-year period, which is three times their closest competitors and five times the S&P 500, the research found.

Schmidt also said that a business model based on sustainability could help a company financially. For example, using less packaging and less energy can reduce production costs.

Key Takeaway

CSR practices play a crucial role in attracting new customers, whose purchasing decisions are strongly influenced by the company's values, reputation and social and environmental activism.

2. It attracts and retains employees.

Consumers aren’t the only ones drawn to businesses that give back. Susan Cooney, a growth and leadership coach who was formerly the head of global diversity and inclusion at Symantec, said that sustainability strategy is a big factor in where today’s top talent chooses to work.

“The next generation of employees is seeking out employers that are focused on the triple bottom line: people, planet and revenue,” she said. “Coming out of the recession, corporate revenue has been getting stronger. Companies are encouraged to put that increased profit into programs that give back.”

According to Deloitte’s Gen Z and Millennial Survey, the modern workforce prioritizes culture, diversity, and high impact over financial benefits. Three-quarters of Gen Z and millennials say an organization’s community engagement and societal impact is an important factor when considering a potential employer. The survey found 86 percent of Gen Z and 89 percent of millennials say having a sense of purpose is important to their overall job satisfaction and well-being. These generations are more likely to reject potential employers whose values don’t align with their own.

What’s more, employees that share the company’s values and can relate to its CSR initiatives are much more likely to stay. Purpose-driven workplaces retain talent up to 40 percent more than their competitors. Considering that replacing a departing employee can cost up to 150 percent of their salary, according to an Express Employment Professionals-Harris Poll, offering your team a sense of purpose and meaning in their work is worth the effort.

3. It increases your appeal to investors.

By demonstrating a developed CSR program and initiatives, your company is bound to become more appealing to both current and future investors. The influential Giving in Numbers report by Chief Executives for Corporate Purpose shows that investors play a growing role as key stakeholders in corporate social responsibility. Eighty-three percent of surveyed businesses said they considered the investor perspective when outlining social impact key performance indicators (KPIs) in their annual reports. Just like customers, investors are holding businesses accountable when it comes to social responsibility.

At the same time, a company that takes CSR seriously signals to both investors and partners that it’s interested in long-term as well as short-term gain. CSR goes hand in hand with environmental, social, and governance (ESG) metrics that help external analysts quantify the company’s social efforts, and becomes a key factor for investors’ consideration and continued interest.

Tip

Don't wait until investors ask you to provide social impact data. Get ahead of current trends by sharing ESG scores, sustainability reports and CSR metrics.

ry of ATM machines.

What types of businesses should provide ATMs?
The following types of businesses frequently keep ATMs on-site:

  • Cash-only restaurants: An estimated 80 percent of consumers prefer paying with a credit or debit card to paying with cash, according to Federal Reserve data from 2024. So, you need to make payment easy if you only accept cash. That’s why most cash-only restaurants include ATMs on-site. And just as ATMs eliminate credit card processing fees, they can add to your profits.
  • Bars: Both cash-only and non-cash-only bars are known to keep ATMs on-site. At non-cash bars, the cash that customers withdraw can go toward a jukebox or a pinball machine, for example. In every case, that money winds up back in your pocket.
     
  • Gas stations: Most gas stations charge more to pay with a credit card than with cash. Keeping an ATM on-site gives customers the choice of whether to pay more for credit cards’ convenience or withdraw cash instead.
     
  • Convenience stores: Many convenience store customers make smaller payments than they would at larger stores. Smaller purchases can make credit card processing fees a larger burden, which is why many stores set a credit card minimum. It’s also why convenience stores often keep ATMs on-site.
     
  • Grocery stores: A cash transaction may be faster for grocery shoppers who need just a few items. These customers may benefit from an on-site ATM.
    Casinos: Most casinos require customers to convert cash to poker chips and use cash at slot machines. This makes ATMs key to a casino’s success.
     
  • Benefits of an ATM machine
    If you’re considering installing an ATM at your place of business, there are several benefits you can expect. Chiefly, if you are a cash-only business, having an ATM on-site allows your customers to withdraw cash so they can pay you for goods or services. Additionally, you reap the benefit of an extra commission.

Here are the main benefits:

  1. Increased revenue: Revenue could increase because of the commission you earn on each transaction, as well as from new customers who enter your establishment to use the ATM. Business owners typically earn between $0.50 and $3 per transaction, depending on their agreement with the ATM provider.
     
  2. Convenience: Offering your customers an easy cash option inside your business means you’re providing them with convenience.
    Flexible plans: ATM companies often help with marketing and allow you to buy or lease your machine, depending on what works best for your business. There are short-term-contract and cancel-anytime options, and some companies help you market the ATM.
  3. Reduced credit card processing fees: Businesses with ATMs inside their shop receive more cash payments compared with businesses that do not. By putting an ATM inside your store, you can drive down credit card processing fees.