6 Reasons You Should Engage In Corporate Philanthropy
Society is making a tremendous shift towards focusing on social, environmental, and economic responsibility.
Corporate philanthropy is a practice that benefits the community, your company, and your employees. Giving back to the community is now essential to your business’s success
Here is a list of reasons you should engage in corporate philanthropy.
Corporate philanthropy allows your company to keep a better pulse on your local community. And makes your business more agile.
What are their needs? What are their wants and desires? And how can you help them to reach their goals
In many NPOs, which corporate philanthropy will encourage you to engage with, social workers play crucial roles. Maybe your chosen NPO needs help concerning the education of its employees. In this case, you could contribute to an education program that promotes the studying of social work and teaches about MSW requirements.
As much as some businesses like to think so, no company lives in isolation from the community around them. Your company relies on the state of the circumstances of the location or area at which they’re based.
So, communicate with the locals to create a more cohesive, stronger network.
Attraction And Retention Of Employees
The up-and-coming workforce generations (Millennials and Gen Z) want to feel their career is useful. This leads to better work satisfaction and pride in the company.
People searching for employment are starting to make decisions about where they choose to work based on the organization’s contribution to society. Applicants will more likely apply if they know your business is socially and environmentally conscious.
Companies can attract passionate employees by advertising corporate philanthropy as a benefit of the job. For example, you could let people know about your company’s contribution plan, pre-tax contributions, gift matching, and paid time off to volunteer from the get-go.
Show that your company cares about their employees’ opinions and voices
Employee Engagement And Productivity
Employee engagement is essential to the success of your business – we all know this.
And most employees report wanting to engage in some corporate philanthropic initiatives through their company. They want to be involved and select their charities, which ultimately boosts productivity and business results in the long run.
Encourage your employees to get invested in something they’re passionate about, develop crowdfunding campaigns, and give them paid volunteering time off. This fosters deeper connections among company staff and improves communication, collaboration, and teamwork.
No one wants to be hammered with work and instructions constantly in a job that is making you sick. It is guaranteed to improve company culture, morale, and ambition if you’re all removed from the typical work environment for a while.
Improved Brand Awareness And Reputation
Another reason to engage in corporate philanthropy is to improve brand awareness and reputation. It makes sense that the more good you do, the better your reputation becomes.
Employees, customers, prospects, partners, and the community will connect better with a brand that supports positive social initiatives. And thus, your customer loyalty is increased! Which is a great way to boost your business.
Donating to charities under your company’s name, crowdfunding, matching gift programs, etc. They all portray a sense of humanness to your brand.
Your audience will see that you’re not only out for making money for yourself. They will see that you have a sense of social responsibility. And you care about the well-being and quality of life of those around you.
Corporate philanthropy is the perfect way to improve your marketing techniques and increase sales!
These days customers generally will choose a cause-oriented brand over a brand without a sense of social responsibility. People are much more likely to purchase from a company that promotes a cause in which they’re interested.
Post, blog, and publish about your contributions, crowdfund, and promote charity events on various social media platforms. And use these online platforms to raise awareness for your social cause as well. This will, of course, market your business positively as a result.
Your sales will skyrocket if you start linking specific products to charities and causes. People will certainly pay for your premium products if it means those funds are being channeled to cause dear to their hearts.
Corporate philanthropy can help your business in various ways. But ultimately, knowing you are supporting NPOs and other organizations to reach their charitable goals, is extremely fulfilling. Your company is making a change by helping another company make a change!
This could be helpful in the form of funding and donations, or your company could create awareness for the cause you’re supporting – giving them a voice and increasing their impact.
Your company could easily increase the efficiency of an NPO and its likelihood of success.
Furthermore, your company’s philanthropic reach could aid the economy in general! This could be the result of giving underprivileged communities the ability to thrive and contribute to the economy.