It's Mutually Beneficial
Giving feels good, whether it’s done individually or through a corporation. But in addition, there are plenty of tangible benefits to engaging in corporate philanthropy.
External benefits of corporate giving include:
• Boosting a company’s reputation in the community
• Improving customer loyalty: 87 percent of consumers indicate they would switch brands or retailers to one associated with a good cause when price and quality are equal.
• Increasing positive name recognition and brand awareness
• Fostering relationships with key community leaders and officials
• Developing more economically healthy and livable communities with a vital workforce
Internal benefits of corporate giving include:
• Nurturing a strong sense of loyalty among workers: 89 percent of employees at companies with philanthropic programs feel more loyal to their employers.
• Gaining a competitive advantage in attracting and retaining employees
• Developing employees’ leadership skills through internal philanthropy projects or by serving on the boards of nonprofits
• Uniting teams behind a common purpose
• Exposing employees to new ideas, viewpoints, and social issues
SOURCES: Minnesota Council on Foundations and Cone