Philanthropy is a Greek word that refers to the love of humanity. Nowadays, philanthropists are people who work toward the common good by giving their resources to others. People who engage in acts of philanthropy make donations to organizations and services that improve the overall quality of life for the community.
Some wealthy individuals use their money and other assets to promote the common good in communities. But it’s rare for someone to have so much money that they can change an entire community.
On the other hand, businesses generate enough income and have a big enough social impact to change the world. There are many ways that companies can choose to promote the welfare of the planet and other people.
Corporate philanthropy is a concept that encompasses how companies use their employees, finances, products, services, and facilities to create a beneficial impact. They might support community endeavors, help people in need, or work toward big-picture concepts like environmental cleanup.
One of the things that have most changed corporate philanthropy is social media. People can see precisely what ventures the companies they shop at are involved with. They also want to know what you value. There’s never been such a strong level of transparency between companies and consumers, and businesses have found that people react well to increased philanthropic acts.
If you have a thoughtfully executed philanthropic program, you can make massive headway with your industry reputation. It’s a great way to improve your PR. In addition, there are financial impacts. You get tax benefits for supporting charities, and you can pull in additional income from consumers who decide to shop at your store.
So how do you get started?
You’ll need to have employees involved from the top of the company to the most inexperienced worker. It’s essential to have people promote the program by voluntarily participating in it, talking about it on social media, and making donations.
You can let the employees know about the program through company meetings and by putting a notice on the website. Another great idea is to give your employees paid time off to volunteer at different organizations in your community.