Corporate philanthropy is more than just donating money; it’s about finding ways to empower the community and contribute to the wellbeing of society. This post will discuss how your company can do more by implementing corporate philanthropy programs. These tips are designed to help your company turn corporate philanthropy into a powerful tool that can benefit both your organization and society for years to come.
What is Corporate Philanthropy?
Corporate philanthropy is a form of corporate social responsibility that usually takes the form of donation or volunteering. You can use corporate philanthropy to give back to the surrounding community. You can also use it as a way to expand brand awareness and engage with your clientele on a deeper level.
Corporate philanthropy can include everything from donating money, time, or products to charitable causes, giving employees time off to volunteer, or taking part in fundraising events.
Why is Corporate Philanthropy Important?
There are many reasons why corporate philanthropy is important. For one, it has the ability to help your company generate more goodwill and positive outlooks. This can be especially beneficial if your company is struggling with public perception or trying to create more awareness about important causes.
Corporate philanthropy can also help your company establish new relationships with influential people in the community. When you do something good for the public sphere, you never know who might be watching.
But perhaps most importantly, corporate philanthropy programs motivate employees to take on initiatives that will benefit others. This not only increases morale but allows team members to make an impact outside of the office walls.
Implementing Corporate Philanthropy
You can implement a corporate philanthropy program in a variety of ways. The two most popular approaches are matching donations and giving back to the community.
Matching donations is when you match each dollar donated by an employee. This doesn’t have to be limited to monetary donations, either—your company can match your employees’ volunteer time or hours spent on pro bono projects, too.
The second approach is giving back to the public. This could include meetups between your staff and community members, volunteering at fundraisers and donating products to a noble cause.
When you decide to get your company involved in something, it helps to look to other companies as an example. David Johnson Cane Bay Partners has contributed to many initiatives throughout the years. Not only has David worked with charity groups, but he has helped educational programs that train risk analysts to help other companies. This shows how you can help your own company, partners and your community all at once.
The Bottom Line
No matter where your business is or what it focuses on, you likely have something you can offer to the people around you. If you are tight on capital, you might be able to offer your services. If you are low on staff, you can find ways to interlink your typical business operations with a cause. Corporate philanthropy can help you generate a mutual exchange between your own business and the region around you.