Corporate philanthropy sometimes seems frivolous. It’s money that could be used for marketing, research, and development or returned to shareholders. However, it greatly boosts morale. All companies should consider having a philanthropy program.
Corporate philanthropy varies widely. It could be everything from an office adopting a school for the holidays to a company paying for a dinner at a soup kitchen. Sometimes, a company can donate products that would not affect cash flow. For example, if a restaurant has excess vegetables, it could donate some to a food bank.
Many groups benefit from corporate philanthropy, including volunteers. Your employees will improve their professional and management skillset. They’ll expand their social network within your company as well.
Most employees feel like just a cog in a machine. To them, working is purely money-driven for both the employee and employer. If you somehow sponsor the philanthropic outing, your workers will feel more linked to your organization. Volunteering is an opportunity to reinforce your company’s purpose and reconnect with them.
Philanthropy is rarely the key function of a company. Most corporations are focused on creating products and competing in the marketplace. But that doesn’t mean philanthropy should be neglected. Marketing and organizing the events will be a lot of work. Getting people involved might be a challenge. Many will find this job engaging because they feel they are making a difference.
Supporting charitable causes regularly will eventually create strong traditions. Your employees will think more highly of you. Their jobs will give them a sense of pride and prestige. Your values will become theirs.
Be sure to be open. Keep volunteering completely voluntary. You don’t want people to feel like they’re forced into doing anything. This is especially true if you are fundraising. It could put employees in an awkward position.
There is a tremendous amount of disengaged employees in the workforce. In numerous studies, there were numerous benefits for having happy employees. They had increased productivity. Relationships with managers were better. And there was improved growth of the company. From completely a for-profit perspective, a culture that creates a happy workforce is a competitive advantage. It shouldn’t be neglected.
Corporate philanthropy serves an important function in our society. It boosts morale in numerous ways.