Corporate philanthropy, also commonly known as corporate giving, is the donating of profits, resources, grants or anything else of monetary value to outside entities that are not involved in your business or corporation. The term philanthropy is a Greek word that means love for mankind. Basically, large corporations are beginning to give things away to outside individuals in order to show their love for their fellow man.
Companies that choose to engage in this sort of giving will benefit from their efforts to give back in a plethora of ways. Companies that choose to give things away will enhance their reputation with the general public, and cause outside entities to notice their company.
Corporations that avidly give things away will also increase their employee retention and attract new employees at the same time. Happy employees will not only help your business generate more funds, but they will also help your business thrive and make it to heights that you never knew existed.
Shareholders will be enticed to invest in companies that are looking out for mankind. They will feel as though their investment in the company is doing things for other people, thus making them want to invest even more money in the stock. The community will suddenly begin to show an interest in the company that is anxious to give things back to their community in return.
Even though a great majority of the companies that engage in these philanthropic acts will tend to donate money to different places, this form of giving is not always about money. Some corporations will choose to donate their facilities, services, or set up employee volunteer groups that are willing to provide their services around the community.
Corporate philanthropy is something that all large and small businesses need to begin incorporating into their business plans. The public will become instantly attracted to your business if you are willing to show them that you care about what they need and desire. By giving away things, businesses can earn a lot more in the long run.