As society has evolved and shifted towards more prominent social, environmental and economic responsibility, the importance of corporate philanthropy has increased and minimized the only means of businesses i.e. profit maximization. It has become more essential worldwide to deliver sustainable products and services to save resources without compromising the needs of the future generation. Moreover, today many organizations have adopted Customer Social Responsibility (CSR) as their business strategy to self-regulate their systems and provide philanthropic and societal goals while conserving nature. This has emerged the increasing role of corporate philanthropy and the initiation of philanthropy programs.
Here are some benefits of inculcating philanthropic activities in the corporate world.
Good Reputation:
Globalization has changed the way businesses are perceived and likewise has affected their reputation. Now people admire workplaces where social responsibility, community values, and environment are concerned factors of running a business. This increases the reputation and portrays a positive image while attracting customers and other organizations to form mutually beneficial relationships.
Increase employee productivity:
Philanthropy programs that involve employees, helps create employee engagement and productivity. It develops a sense of responsibility and gives power to employees to take strategic measures for their community.
Attract new talent:
People prone to join those organizations and businesses that are more committed to their community and feel confident to be part of it. Philanthropic programs attract new talent and engage people to discover a new path while achieving job satisfaction and overall happiness. It’s the most effective for the businesses to create greater on the employees and community as a whole.
Expanding professional network:
In the world of the internet, there is a tough challenge then there has ever been. It’s not that hard to promote your business on the internet but what difference it makes to the community matters a lot. By getting involved in various types of charities and causes one can expand the professional network and help your business to grow and thrive.
Tax savings:
With a good reputation, maximum employee productivity, attracting new talent and expanding sales, charity programs also help to deduce taxes related to charitable giving. This also provides economic rewards and incentive to do more.
About the Author
