Which are the companies that people want to for the most, the ones that people admire. The simple reason for this is that people or employees have the desire to work for a company that they feel good about and what their management does both in the industry and for the community. As a business owner, if you intend on hiring and engaging the best workforce you probably should be looking forward to putting in time and resources towards developing a corporate philanthropy plan. Here are five reasons corporate philanthropy is good business and good for business.
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” said Warren Buffett, CEO of Berkshire Hathaway, a business magnate, and philanthropist.
When you involve your business in charitable work, it gives out the message that you care about your community and the world as a whole and intends on making a difference.
The drawbacks of donating to non-profit organizations are unquestionable, moreover, charity is an act that highlights your business as a brand by shedding a positive light on your business. When it comes to organizations that are active in corporate philanthropy, these organizations are broadly seen as more positive when compared to the ones that do not. Customers will be more willing to do business with an organization that sees past products, services, and profit.
Increases Your Reach:
Another reason to engage in charitable giving or corporate philanthropy is that it helps increase your reach to an extensive audience. There are many ways to indulge in corporate philanthropy to increase your reach, for example, volunteering for charitable actions acquaints your organization with the businesses around you, giving charity to national charities can enhance your organization’s visibility on a nation-wide scale. Apart from being a good act, corporate philanthropy also brings in great networking opportunities.
Boosts employee morale:
Employees feel good and more positive when the organization they work for is involved in charitable activities. This same feeling can act as fuel to increasing employee loyalty and engagement. Many people have a preference for specific charities that they value but lack the time or resources to support them accordingly. Extending a work based charitable plan will boost morale and engagement amongst employees.
Better Public Relations:
When you share your experiences of charitable giving and philanthropy, your organizations can benefit largely when seen from different points of view. When you take it to media, your employees will be instilled by the thought that they picked the right organization to work for apart from letting the public know about your acts. Your website is another platform to showcase your charitable giving acts as it lets visitors know about it, may it be clients, or just the common man. With good management, thriving associations with charities can undoubtedly reshape your organization’s reputation.
Giving Back Is Good For You:
If all the business benefits of giving to charity are set aside, one best reason why you should indulge in charitable giving is the feeling you experience when you help others. Your organization has the potential to help people and bring them together for noble causes. WE Charity is an example of a charitable organization that operates a family of non -profits. Founded by Craig Kielburger along with his brother, WE Charity works on lifting approximately one million people out of poverty by providing social and economic development opportunities.