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Authors: Jody Heymann
Chapter from: "Profit at the Bottom of the Ladder: Creating Value by Investing in Your Workforce"
Published by: Harvard Business Publishing
Published in: 2010

Abstract

Since members of the community often constitute a company's labor force in addition to its customer base, support from the community can facilitate both production and sales, just as opposition can significantly impede expansion. As a result, a company's relationship with the community can be a critical determinant of its economic future. This chapter shows you how your company can invest in communities during both stable and turbulent economic times. Whether you're improving the local community college or helping build much-needed infrastructure, providing transformative services to the community on any scale can greatly improve your company's public image, its employee retention rate, its performance, and its ability to expand. This chapter is excerpted from ‘Profit at the Bottom of the Ladder: Creating Value by Investing in Your Workforce'.

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Abstract

Since members of the community often constitute a company's labor force in addition to its customer base, support from the community can facilitate both production and sales, just as opposition can significantly impede expansion. As a result, a company's relationship with the community can be a critical determinant of its economic future. This chapter shows you how your company can invest in communities during both stable and turbulent economic times. Whether you're improving the local community college or helping build much-needed infrastructure, providing transformative services to the community on any scale can greatly improve your company's public image, its employee retention rate, its performance, and its ability to expand. This chapter is excerpted from ‘Profit at the Bottom of the Ladder: Creating Value by Investing in Your Workforce'.

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