Giving Compass' Take:

•  The author lists four steps that companies can take to implement long-term philanthropic goals into their business strategies. 

• What is the impetus for businesses to adopt philanthropy into their models? 

• Read more about the business case for corporate philanthropy. 

The holiday season is over. Sadly, that means philanthropy season is over too. Charitable donations in December are usually over twice as high as the average of the previous 11 months, according to the Blackbaud Institute of Philanthropic Impact. In January 2017, donations plummeted by about 40% from December 2016.

While any donations are worthwhile and generous, far too many business leaders don’t ingrain philanthropy into their missions all year long. They simply check the philanthropy box during the holidays and move on.

Why do customers support your organization? If you think it’s simply because you’ve created the finest button-down or the best tasting cup of coffee, you’re sorely mistaken. They often want to support organizations they believe in — and they express this sentiment with their wallets. According to Nielsen, nearly two-thirds (66%) of global consumers are willing to pay extra for more sustainable brands, and that number rises to 73% for millennials. Speaking of millennial consumers, a majority of the millennials surveyed around the world agree that businesses “have no ambition beyond wanting to make money,” according to Deloitte.

Focusing on philanthropy won’t just attract customers; it’ll help you attract and retain talented team members.

Follow these four steps to make philanthropy part of your organization all year long.

  1. Create an overarching philanthropic vision.
  2. Ask team members what they’re passionate about.
  3.  Add some friendly competition.
  4.  Lead by example.

Read the full article about making philanthropy part of your business from Young Entrepreneur Council at Forbes