Select a Site
Insights for Entrepreneurs

Why you should be practicing philanthropy

Companies are always interested in ideas that make good business sense. They invest millions of dollars in marketing, research and development and technology upgrades to launch new products that help in improving profitability and increasing the company’s market share.

 

The benefits of philanthropy to a business can sometimes be a little more subtle, but the results are equally tangible and real. For some companies, the act of giving is a one-off exercise often done for media mileage, or maybe even as a tax write-off.

 

Yet, in today’s competitive environment, companies that embrace philanthropy as a core business philosophy reap far-reaching and consistent rewards. Philanthropy, corporate volunteering and employee giving are essential business tools today.

DONATIONS

Philanthropy is good for the company

 

While companies are in business to make money, a corporate vision beyond this basic goal gives the company a broader sense of purpose. Embracing the vision of giving back to the community can help in revitalizing the energy levels within the company.

 

When a company builds itself around a larger mission, it infuses that passion into its products, services, employees, customers and shareholders. This passion manifests itself in innovation and creativity, which leads to business growth.

 

Giving leads to employee engagement

business charity

 

All successful companies realise the importance of engaging employees in the core mission of the business. Today’s employees want more than just a pay check at the end of the month. Employees want to engage with the company’s initiatives and to see their efforts produce results, for both the company and the community at large. This is the core of employee engagement.

 

Increasingly, knowledge workers make up a large part of the corporate workforce. These young, inspired and engaged workers are exponentially more productive than someone just doing their job. The younger employees value engagement at work more than their peers from previous generations.

Originally posted 2015-10-08 04:49:48. Republished by Blog Post Promoter