Giving Compass' Take:

• Derrick Morton, writing for Forbes discusses the importance of central, relevant philanthropic efforts as successful business initiatives.

• What are relevant philanthropic efforts and why are they successful for businesses and the issues they support? How are you incorporating relevant philanthropic efforts into your business strategy?

• Learn more about how philanthropic efforts and businesses can go hand-in-hand.

This shift toward making a greater societal and environmental impact is prompting many businesses to give equal thought and consideration to philanthropic efforts as other business initiatives. This is an important step toward progress, but for these initiatives to really gain traction, they must be connected to a central and relevant purpose.

Here are five steps to make sure you’re setting up your corporate philanthropy program for success:

1. Understand the causes your employees and customers care about most.

While I wholly agree that all corporations should embrace a culture of philanthropy and give generously, I believe it makes the most sense to give to causes that speak to your audience.

2. Establish a long-term relationship with a charitable organization.

Once you find a cause to support, seek out the organizations that spur significant change for that cause. n ongoing, yearslong partnership with an organization that aligns with both your business's and your customers' values can help you create targeted campaigns that your audience recognizes and emphatically supports.

3. Make it easy for your consumers to give back.

Establishing an easy way for employees and consumers to get involved is the key to ensuring a successful philanthropic mission that people will want to actively participate in.

4. Mobilize your employees to care and commit.

Whether it’s supporting and encouraging volunteer hours or creating opportunities for employees to participate in fundraising, the success of your philanthropic efforts hinges upon active employee engagement.

5. Share wins, and stay consistent.

A successful corporate philanthropy program isn’t just a one-and-done endeavor. It should evolve and grow, just as you expect your company to change over time. After every successful campaign, it’s crucial to promote the successes to your community (via social media, newsletters, etc.) and highlight the progress you’ve made.

Read the full article about relevant philanthropic efforts in business by Derrick Morton at Forbes.