Benefits of Corporate Philanthropy

Philanthropy is being discussed more than ever. With booming economic climates comes the instinct to give back. A great way to give back is through corporate philanthropy. Corporations have the resources that most individual people may not have, and would make a better impact on the world. It also fosters relationships between the company and the community, creating brand awareness along with bringing all the good philanthropy brings. Most companies want to make a difference, and this is a great way of doing so, engaging workers in the process who know that all their work is eventually going to a good cause.
According to fortune.com, there is a positive correlation between companies who give back and workers who have a positive experience at work and are also willing to put in extra effort to get a job done. The workers were also more up for proselytizing on behalf of the company and more willing to stay with their company longer. Simply by those metrics, team morale and worker confidence and motivation, philanthropy is a good tactic. However, the benefits are even more important than that.
Sometimes there is a correlated connection with the amount of merchandise sold compared to the good that is done in the community. A certain number of products sold may compare to a certain percentage of funds donated, or programs started, or internships given. For example, the company Patagonia sends their employees on internships with certain groups that deal with the environment. The organization Deloitte completes plenty of pro-bono projects to give back to the community. Consulting businesses may use their knowledge to help local nonprofits. There is a sense of purpose that is present all of a sudden, a higher calling than what simply working at a job and going back straight home right after may bring.
The good that can come from giving back also extends to creating better workers. By sending employees off to these types of internships, new projects, and giving them the responsibility to handle these charitable endeavors, employees also receive plenty of organizational experience that is also fulfilling by putting together their skills and ideas for good causes. It provides challenges that perhaps regular work does not bring, and also prepares them in case their regular work ends up providing those challenges in the future.
