“Philanthropic colonization is a failure. National colonization will succeed,” said Theodor Herzl.
Corporate philanthropy not only supports the community but also businesses and employees as well. But it also helps others to understand their social responsibility and moral duty. Every business needs to understand the importance of corporate philanthropy.
Here are five benefits of adding corporate philanthropy to your business:
Increase employee engagement and productivity:
When your business is passionate to support the community and focus on making the earth a better place to live and when your employees also support you in your cause then it will help them form a better connection with each other and also increase employees’ engagement. Well, all your employees who are happy and satisfied with the business will improve the work productivity and important your business growth.
Improve brand awareness and reputation:
Well, this is what doing good offers you, your brand reputation. When your business is working hard to help the community to improve their living then it will improve the image and reputation of your brand and it will attract more new customers and clients to the business to support you in your cause.
Attract top talent:
The good and talented your employees are the better your business will be. A recent study says that nowadays employees are more attracted to the business that is focused on philanthropy work on various social causes. When your business supports the community in making their life better will attract more talented employees to your business who shares the same vision as you.
Corporate philanthropy not only attracts talented employees but also attracts customers. Studies show that businesses that are working for a cause are been supported by many customers. When your business help the community then many other small business and community members will try to connect with your cause to support your business. They will also try to refer your business to others and will help in increasing your sale.
A tax deduction is what every government offers to businesses that are helping and supporting their community in making their life better. But you need to follow some guidelines to achieve deduction. When you provide charity to various non-profit organizations lets you save your taxes.
A successful entrepreneur, hedge fund manager, business partner, philanthropist, and board member, Moez Kassam has been supporting new businesses in improving their growth and reputation. Moez Kassam has an MBA from London Business School (LBS) and a BA from Western University.