Well, corporate philanthropy indeed benefits the community but not only the community it also benefits the company along with its employees. When your business is passionate to help the community then it will attract more new customers to your business and also your good deeds will help others to understand their social responsibility. Corporate philanthropy work also helps the business to achieve success and offers more benefits with a great impact on its performance.
Thomas Kane is a great philanthropist who is supporting many communities in improving their livelihood. Tommy Kane Chicago joins Merrill Lynch’s Private Banking and Investment Group (PBIG) where he will be responsible for $3.3 billion in assets under management serving ultra-high net worth clients.
Here are some values of philanthropy in an organization:
Increase employee engagement and productivity:
So, many skilled and talented employees are trying to search for a new job and a recent study suggests that more than 78% of employees will get attracted to a business that is deeply engaged with corporate philanthropy work. When more skilled employees engage with your business then it will improve productivity and engagement at the workplace and also offer great business results. When you have high employee engagement in your business then it will offer you 21% higher chances of success than your competitors.
Improve brand awareness and reputation:
The other benefit of corporate philanthropy is when your business supports the community to improve their livelihood then it will improve the brand reputation in front of your employees, clients, stakeholders, customers, and the community. The more good deeds your business performs the better its brand image will be. It will also increase the chances of more new customers to connect with your business and support you in your cause.
Attract top talents:
“The results of philanthropy are always beyond calculation,” said Mary Ritter Beard, an American historian, author, women’s suffrage activist, and women’s history archivist who was also a lifelong advocate of social justice.
In recent times, many employees are more focused on connecting with a business that gives back to the community or helps others to make their life better. Earlier, employees only focused on how working in a business will help them grow their career but now along with their career growth, they also measure how their business is providing a positive impact on the world. So, it should be clear that businesses that focus on corporate philanthropy attract more talented employees to them.
Not only does corporate philanthropy work through the business by helping attract new talent, but it also helps to attract new customers all across the world that help your business in increasing its sale. A study suggests that 90% of customers will likely choose the business that is working for any positive cause or they are providing donations to the non-profit organizations.