There is no denying that philanthropy is good for the soul. The chance to give back to those who need a helping hand of any kind produces no greater feeling because there is no greater responsibility to cherish. Quite simply put, there is no greater acknowledgement than knowing your contribution – your existence – is helping others live and lead a better life.
However, this isn’t the only great thing about charitable giving because philanthropy is great for business. It allows you to attract the greatest millennial workers. Plus it allows you to engage in cause marketing, build relationships, grow your brand, promote engagement and do good in the world.
But don’t just trust on blindly on that, read on and find out for yourself.
Philanthropy Leads To Better Relationships
When a company is philanthropic – or associated with charitable causes – there tend to be regular events in order to raise funds for the cause in question. It is a meeting between the charity organisers and the corporate sponsors. As such, it becomes a haven for networking and networking with people that share a common cause. You get to know people in other industries, other sectors and, as Joe Aldeguer explains, you get to know them in a way that a strictly corporate environment won’t grant you usually. You make relationships with clients that share your passion. Grow loyalty among current customers that agree with your association and efforts. Start bonds with other businesses that may be able to support your expansion plans.
Philanthropy Is Great For Branding
Branding is everything these days. The way it works with charitable organizations can have a huge impact on business, for better or worse. Look at Nestle. Huge chunks of revenue have been lost due to their disregard for the little guy, for the people that need help. Compare that to the NFL, which has associated itself with numerous charities and helped a huge number of communities. You have a very different story, and financial report.
A well constructed and understood philanthropic program allows clients and customers to connect with your company on a far deeper level that just that of consumer and supplier. There is a deep emotional understanding that can’t be achieved by marketing campaigns, which is why so many companies are heading in this direction. Just look at the latest Stella Artois advert, featuring Matt Damon.
Philanthropy Encourages Employees
One of the key features of a Millennial is their desire to have a reason, a purpose, something that gives their life value. This is achieved through charitable association. People want to leave the world in a better state than they got it. By achieving this through their career, employees for more engaged and encouraged to perform better. There is a newly discovered energy and drive that stems from this idea of being part of something bigger than ourselves. Start associating yourself with a charitable cause and following in the footsteps of Bill Gates and Warren Buffett. You will see employees produce higher quality work, remain within your company, and attract better talent.