There are myriad reasons to get involved in philanthropy, from growing your relationships with employees…and business partners to building your brand with the public.
While at first glance, it may seem that philanthropy goes against the basic principles of business—you are working to make money, not give it away—doing good helps grow your business on a number of levels, most of them leading back to the bottom line.
Between telethons, golf outings, charity auctions, and ongoing volunteer commitments, it seems like there is no end of requests on business people for donations of goods, time, and money. Options for philanthropic programs cover approaches including direct giving, working with a local or national charity or service, creating a foundation, or employee outreach.
Crunching the numbers shows that good works make good business sense. According to The Points of Light Foundation’s “The Corporate Volunteer Program as a Strategic Resource:”
- 53 percent of companies agree that employee volunteering provides a way to implement corporate business goals.
- 74 percent of companies agree employee volunteering is a means to improve a company’s image.
- 56 percent of companies strongly agree employee volunteering is a way to help employee morale.
The numbers don’t lie. Being a socially responsible business brings benefits internally (employees and corporate culture) and externally (community).
One of the biggest benefits to companies doing philanthropic work is the positive impact on internal relationships.
Whether it’s screening school kids in your home town or organizing a training session in Ethiopia, optical outreach provides hands on training facility for leaders. Volunteers master handling emergencies, personalities, and deadlines.
Getting to know you.
For practices and businesses with multiple locations, volunteering is also an opportunity to get together.
Attracting and keeping the best.
Having a philanthropic program in place can get the attention of potential employees. It can also build loyalty with current employees who appreciate the community connections.
Outreach helps people put a human face with a corporate name.
- Build your brand. Having social responsibility on your agenda lets people know that you are more than a profit machine.
- Create new connections. Companies have the opportunity to develop relationships with other local leaders who also participate in good works.
- Solidify relationships. Clients will come back for more as they opt for businesses that share their values.
- New customers will also patronize businesses that support causes that appeal to them.
Doing good can result in a win-win situation for your business & your community.