Let’s firstly acknowledge the founding principle of philanthropy: a care for humanity and others. The world isn’t perfect, and a charity venture can make it just a little bit more fair. If you value the social good done by a charity then you should get involved. And while the first reason for supporting a charity should be a genuine desire to make a difference, there are also many rewards for your company.
Here are four (other) reasons why your company should support a charity.
1. Boost employee retention
Making a real impact on others can infuse our lives with more meaning. The warm glow one gets from giving is so real, it’s scientific. In one study, researchers found that donating to charity activated pleasure centres in the brain.
The act of giving can reignite motivation amongst employees as they feel more fulfilled knowing they are making a difference in this world.
Not all jobs can offer the opportunity to make a great impact for change, but by supporting a charity, your company and employees can make a difference in your own way. Most of us want to get involved with charity but some struggle to find the time to do so, and participating in employer-sponsored fundraising gives staff the opportunity to make a difference, at the ease and practicalities of the workplace.
Many volunteering and fundraising schemes can also provide learning and leadership opportunities, increasing productivity and engagement.
Giving back is rewarding, and can be the catalyst to boost employee morale, promoting a sense of pride and purpose in themselves and the company.
2. Team building
Supporting a charity can help build a motivated and collaborative team. Raising money can be, and should be fun, with many charities offering fundraising ideas that bring people together. Whether it’s a charity run, volunteering, or doing something silly for something serious, there’s an inclusiveness that offers all employees of different levels and departments to work together in an environment outside of their usual work parameters. This strengthens relationships and instills a sense of unity and camaraderie, as they work together towards a shared goal for a better good.
3. Networking opportunities
We all know the importance of networking in business. Charity organisations allows you to build a mutual trust and respect with like-minded business people, with a regular platform to nurture those relations. Being part of a charity can open the doors to a powerful network of business owners. To quote a popular character from TV show Mad Men: “Philanthropy is the gateway to power.” This can be met with some cynicism, but charity organisations are often associated with the world’s most influential individuals, and belonging to these groups can offer invaluable resources and opportunities.
4. Stronger employer brand
Making philanthropy a part of your identity can build positivity around your brand that will engage with the outside community, including clients, customers and prospective candidates.
People respect and connect with leaders who show a social responsibility, with research showing that people want to work for an ethical company that is dedicated to helping others. In the world of business and corporation where motives are largely profit driven, the ethical element to a company can balance a positive image, defining your company from your competitors, which not only builds a stronger brand image but can attract the best talent.