Your team may be curious about corporate philanthropy benefits. They may have tasked you to learn more about corporate philanthropy, also commonly known as corporate giving. This 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. Companies of all sizes 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 many ways. When teams involve their employees in giving back, the coporate philanthropy benefits will show through. Not only do employees speak about their company in a positive light when outside of work, but the business reputation with the general public improves. Many entities begin to notice their company.
Corporations that consistently are involved in the community and give things away will have better employee retention. Wouldn’t you want to stay at a company that makes a difference in your community? Further, teams that are involved in corporate philanthropy have an easier time to attract new employees. Happy employees will help your business be more productive and have better results. Additionally, they help your business culture. Employees will feel happier and healthier coming to work. This is incredibly important as people are your biggest asset and biggest differentiator.
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.