Corporate philanthropy is the act of contributing to a foundation or charity which stands for a cause and strives to help society. Even though money is the core form, it can also be different factors like offering time by the company or allowing the use of its facilities. Whatever the donation is, those who take philanthropy seriously often form a foundation or corporation under the firm to handle the matter.
The community and your company benefit from corporate philanthropy, too, and can positively impact the brand image. It has become even more necessary in today’s world due to society moving towards economic, environmental, and social responsibility. It plays a significant role in making your business successful. However, you should also understand that just the act of donating is not much of philanthropy; you’re doing it properly only by really believing the causes you support. More precisely, corporate philanthropy is beyond pure charity. Even the best real estate developer donating a million may not be as praiseworthy as a small business owner’s little fund, given the fact that the latter knew and showed why they were keen to help support a particular cause.
How to spark up your company’s corporate philanthropy perks through an employee-focused program?
I’m sure you want to know how your business performance can benefit from this if it can even be of any advantage to you. Yes, it can result in improved productivity and bring more engagement within your workforce, which connects to the part where you’re attracting higher skills and dramatically increase your sales. For your business to reach there, it must include a good program where employees are empowered. It offers them the liberty to choose a cause they believe in and initiate a campaign themselves (like crowdfunding). Having a concrete program that is part of your CSR Strategy with elements like these is a sure-shot way to bolster your business performance. Whether you are a real estate developer, an IT company, or a gym owner, the approach should be out-of-the-box if you are working with others. Spice this up with a reward system, which in turn supports the company can enhance such a program’s value.
The ignored side of supporting a community with philanthropy
We all know how philanthropy can play a vital role in making a community better, but there is another angle most people often overlook. The corporate world is only as effective as the people associated with it. Your brand’s reputation has a lot to do with the talents you get. Employees prefer to pursue profit and satisfaction, and they come to you from the community around your business. By serving as a role model, your company will attract the best because millennials measure their career or business’ success, and they are the key to your success. You are impacting them positively and encouraging them in assisting the community towards being a welfare state.
Rohit gives tips to support community and employees through corporate philanthropy: