The modern world has brought us a number of unique ideas and concepts. Historically, ideas such as charity and corporate business could never be viewed together. Luckily, due to the rise of the internet and a shift in modern ideals, these two seemingly disparate strands can now work hand in hand.
Nowadays philanthropic ideals and investing in charities are far safer and more practical, thanks to guys like Jason A. Sugarman. Since 2007, the rise of giving from fortune 500 companies has risen by $1.5bn, either via donations or volunteered hours. In 2012, 98% of the FTSE 100 companies all made a donation of some kind. Giving is on the rise.
Philanthropy From Day One
One of the reasons businesses choose to be philanthropic from day one, is that it can be extremely advantageous for both the company and for the charitable organisations they serve. The rise in modern, new companies with fresh interactive ideas are tending to use philanthropy as part of their strategy. Sectors that never previously needed or wanted an online presence, now seem to have one. Take the doctors who have over 100,000 followers online, caring for others is now big business. Apart from the obvious humanitarian advantages this can bring, it can also create extra business and a larger customer base. Customers and consumers are far more likely to use businesses where philanthropy and kindness are at the core.
An example of this is attitudes to animals, some reports suggesting that the U.S.A. has seen Veganism rise by 500% in three years. If we think about the rise in vegetarianism or indeed fair trade, the modern individual is far more geared towards helping others, animals and leaving less of a carbon footprint on the earth. As such, being philanthropic from the outset is more likely to increase your customer base and in turn increase profits. This is without mentioning the giddy feeling the employees get from doing the right thing!
Positive Effects on Employees
In addition, to increased profits and a more trusting customer base, there will be positive effects for employees too. The concept of corporate volunteering has long been part of many a forward-thinking executive. In addition to electing non-profit organisations to give grants and funding too, it has proved beneficial to ask employees to volunteer at local organisations.
The benefits reported can be huge for all concerned. The work ensures that the company are seen positively by the outside world, whilst also providing a service for the local community. The main advantage though, is that the employees themselves have reported feeling more connected to their work and certainly more motivated. It means the company are more connected to the local community and positive relationships are embedded.
Wellbeing
Overall embedding philanthropy in business gives all involved a welcome injection of wellbeing. Morale in the workplace will inevitably be higher. As discussed earlier, the vast majority of workers feel that they want to give back to their community and do good things that help others in their work. If this does not occur, an employee can begin to feel disillusioned. But taking the philanthropic approach ensures a sense of wellbeing that the company and the individual are having a positive effect on society.
Taking a more philanthropic approach can in the short term cost more money and be an extra job logistically. However, the benefits of incorporating these strategies and methods far outweigh the negatives. In the long term, staff will be happier, the community will be served and the corporate image polished and preserved. This is why most modern companies will take this route and then watch success follow closely behind.