Corporate philanthropy does more than demonstrates kindness or selflessness, it speaks to the compassion and value of a company and its employees. Additionally, giving reveals company-wide motivations and interests. It can also lead to networking, partnerships, and opportunities for innovation. Philanthropy iterates a desire to promote the welfare of other through public-spiritedness, volunteerism, monetary donations, and charity events.
More Motivated Employees
Having a company that shows strong core values will not only coax consumers to your company; it will also attract employees. Research indicates that a large percentage of talented people say that they would like to work for a company with strong corporate social responsibility. This is especially true among millennials, who are important to appease because they are the next big generation taking over the job market and bringing new creative ideas. People want to work with a group that shares their own personal values, and the idea of giving back to their community can provide motivation to succeed.
Opportunities for Innovation
While supporting entrepreneurship is not the most important type of philanthropy, it certainly has its benefits. If a company wants to create jobs for aspiring young innovators, then making philanthropic efforts by donating to entrepreneurs may be a good way to do this. Giving back to foundations, universities and nonprofits can provide a bevy of opportunities for entrepreneurs. These partnerships will expose companies to new ideas and the latest research. Not to mention, the company is likely to get first access to talented graduates, once again bringing competent employees.
Corporate philanthropy is an extremely important part of running a business. You would be surprised the benefits that giving back to charitable organizations can bring to a company! If you’d like to know more about corporate philanthropy, commit yourself to doing research into an organization that could benefit from donations or charity. Also, learn about the lengthy and rich history of corporate giving in America. You’re bound to learn about big names that have a number of giving programs, including matching gift programs and volunteer grant programs.
View the follow-up piece on Reasons Why Corporate Philanthropy Is Important.
Eddie Dovner is an entrepreneur, inventor, and CEO who is based in West Palm Beach, Florida. Learn more about Eddie Dovner by visiting his pages on LinkedIn, Twitter, and SlideShare. Also, please learn more by visiting EdwardDovner.org and EddieDovner.com.