Value of Philanthropy in Organization


Value of Philanthropy in Organization

Philanthropy work through your business is not only profiting the community but also the business. When you are passionate to support your local commu

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Philanthropy work through your business is not only profiting the community but also the business. When you are passionate to support your local community through your business then it will help in improving your brand image and also allow the employees to respect and value their business. The more you give back to the community the more new people will try to connect with your business to support its cause.

Here are some values of philanthropy in an organization:

Increase employee engagement and productivity:

Well, a report suggests the more than 78% of employees who are searching for a job get attracted to a business that is passionate to support their community through charity work and donations. Corporate philanthropy that includes their employees in positive work makes the employees feel deeply connected to the business and it will increase engagement at the workplace. When employees are satisfied with the business then they will make sure that they can provide effective and efficient work results and also increase productivity.

Improve brand awareness and reputation:

The second best thing about corporate philanthropy is that it improves your brand reputation with the employees, customers, clients, and potential stakeholders. The more your business is active in supporting the community, the better sale results it will get. New customers will try to connect with you to support your cause and they will also refer your business to more people.

Attract top talent:

“You have to live life to the fullest. I don’t want to slow down. I want the giving to be stepped up. So the older I get, the less I will be involved in the business side, the more in the philanthropic side,” said Jorge M. Perez, chairman and CEO of The Related Group. He is an Argentine American billionaire real estate developer, art collector, and philanthropist.

As we already told that employees are more attracted to the business that gives back. When your business supports philanthropy work and other non-profit organizations then it will attract talented people to your business. In recent times employees understand the value of a business that is providing better career success and also helping others to provide a positive impact in the world.

Increase sales:

Giving back not only offers your business talented employees but also attracts new customers to your business. A recent study shows that customers spend more time with the busy that is very active in supporting their community and helping others.

90% of customers will likely choose your brand instead of your competitors due to your corporate philanthropy work.

Tax deduction:

If you still think that corporate philanthropy has no benefit then think again. When your business helps others who are in need and active in charity work then they can get a tax deduction. This is the way government appreciates your good work. But to achieve the tax deduction you need to follow some regulations provided by the government.

Moez Kassam is a hedge fund manager, venture capitalist, and entrepreneur. Moez Kassam is very active in corporat4e philanthropy work and supporting multiple local charitable organizations such as the steering committee for Second Harvest’s Toronto Taste and as a board member of Kids Cook to Care.