They say that you get what you give, and this holds true with corporate philanthropy. Besides the obvious benefits of giving, like helping the world be better and those warm fuzzy feelings, your company will benefit tangibly when it gives back. Read on to find out three great benefits of giving back.
1. Boost company morale
When associates feel that they are contributing to a business that is philanthropic, they will be more motivated and satisfied with what they do. A company doesn’t have to be a non-profit in order to remind associates that the work they do is beneficial to something larger than just that organization. Giving associates paid time off to support your company’s charity of choice, or whatever cause they are passionate about, is a way to promote giving within your organization.
2. Build reputation among consumers
Consumers prefer socially responsible companies. Similar to boosting morale internally, if a consumer knows the company they are purchasing from is helping others, they will be more likely to purchase again, knowing in some small way, they are contributing to a larger purpose of community-building or helping those in need.
3. Create networking opportunities
Philanthropy is a great way to network and connect with other civic-minded companies. Building a network with non-profits and other companies who give is an avenue to meet and create partnerships with leaders in the community or other businesses. At a basic return-on-investment level, sponsoring local events and charities will make your brand more top-of-mind, as your name and logo are usually advertised at the events your company sponsors.
Businesses have a responsibility to give back. Due to a combined effort, they are able to give more than individuals. And this power should be leveraged. Whatever your reasons are to give to charity, by doing so, you are benefitting your company and your community.