Giving Compass' Take:

• Edward Bertrand offers a series of incentives for businesses to give with corporate philanthropy to attract consumers and employees.

• Why are consumers more drawn to businesses who engage in corporate philanthropy? Are you prepared to enhance your own giving within your business?

• Learn more about why corporate philanthropy matters for companies.

Philanthropy is the act of helping and supporting others. Donations of clothes, food, money and other charitable actions are just a few examples. Philanthropy can be practiced by individuals or by businesses, large or small.

Here, we will see five reasons why corporate philanthropy is good business.

Attract Top Talent: The power of purpose:

In today’s society, the work that philanthropy leaders have been doing for years is now more valuable than ever and social awareness is at the forefront of many minds.  For businesses, pursuing philanthropic causes is practically a necessity for attracting both consumers and employees.

Employee Engagement and Productivity:

A simple way for businesses to incorporate philanthropy is by offering their employees paid time off for volunteering for a charity of their choice.

Improve Brand Awareness and Reputation:

Companies need to create a sense of purpose, meaning, and belonging, so they are taking an integrated and inclusive approach to improving their brand awareness through making donations, volunteering or taking positive actions.

Authenticity is critical: Increase Sales:

More and more companies are jumping on board to tackle large scale social problems. In addition to the help to society that companies experience when practising philanthropy, the use of social media makes these initiatives better known to the general population. Therefore, a well-structured corporate philanthropy strategy can bring several advantages since consumers are more interested in organizations that care about the environment in which they live.

Read the full article about corporate philanthropy by Edward Bertrand at Big Bang Blog.