More brokers looking to support charities and communities

An increasing number of brokers are committing to support local charities and communities, with 60% of respondents wanting to give something back to their customers, according to new research published by specialist insurer Ecclesiastical today (26 June 2024).

Its survey of 250 brokers found that 89% of respondents are supporting their communities in some way – an uptick on 81% of respondents who confirmed this in 2021, when the insurer last conducted this analysis.

Driving these charitable commitments is brokers’ desire to make a difference to their communities (66%), wanting to give something back to their customers (60%) and seeking to enhance their social reputation (60%).

Other benefits arising from supporting charities that brokers cited included building their business network (53%), helping with employee recruitment and retention (39%) and improved customer attraction (45%).

Richard Coleman, managing director of Ecclesiastical, said: “It’s positive to see that more brokers are realising the benefits of a charity partnership and are building more collaborative relationships.

“The best partnerships exist where businesses and charities are aligned in their values and ambitions and work collaboratively together to create real social impact.

“At a time when there is a lot of movement in the broker labour market, a growing number of firms are realising that making a positive social impact can also have a positive effect on employee recruitment and retention.”

Ways to show support

Nearly three-quarters (74%) of broker respondents have opted to support a charity – up from 61% of respondents in 2021 – while others have sought to sponsor a club (55%), provide work experience (44%), support a business or community forum (46%) or aid a community group or school (32%).

The number of brokers cementing some form of charity partnership has risen too, from 25% in 2021 to 32% this year.

Ways that brokers are supporting these charities include company fundraising (93%), volunteering (58%) – and matching fundraising (48%) – sharing pro bono expertise with the charity partner (45%), providing networking opportunities (33%) or having a representative on the charity’s board (24%).

Coleman added: “While company fundraising and volunteering are still the most popular forms of support, a growing number of brokers are exploring alternative sources of value.

“As part of the Benefact Group, we understand the importance of giving back to the community and engaging colleagues with our charitable purpose.

“We’ve helped more than 10,000 good causes and, through our charity support programme and Movement for Good awards, we’re building long-lasting, meaningful relationships with charities operating within our sectors.”

Movement for Good is an annual programme operated by Benefact Group that donates around £1m to charities and causes that have been nominated for by the public. Nominations for £1,000 grants are open now and large grant applications will open on 8 July 2024.