Corporate philanthropy is a positive trend sweeping the business world. A recent survey conducted by Giving In Numbers showed that out of 271 companies with profits neighboring the billions, 56% of them have increased their donations over the past two years. Companies engaging in philanthropic efforts found the public response not only favorable, but oftentimes the general public followed corporate donations with some of their own. What has led to this positive increase in corporate caring?
Companies have shown that they are not only willing to cross-collaborate with other businesses in finding equitable giving solutions, but that they are genuinely concerned with the state of their local communities. The same survey conducted on the amount of charitable companies found that of these philanthropic institutions, there has been an 18% increase in funds given.
Other than the benefit of helping charities in need, companies that donated saw an increase in profits. Businesses that increased giving by 10%, regularly receiving well-deserved attention from the press, saw a 14% growth rate in pre-tax profits. What can be gleaned from this research is that companies willing to give the most will usually benefit the most from their generosity.
Companies that expressed an interest in giving also found that their employees were willing to participate. Findings indicated that the more a company pioneers an ideal, their workforce is more apt to take up the same principles. This fusion of corporate mission and global involvement makes a powerful force for change. A massive body of like-minded individuals pulling for the same cause, and well-funded enough to bring about change on a massive scale.
These metrics indicate that societal involvement has become the norm for positive business practices. Gone are the days that companies simply signed a check. Now it’s in their best interest to actively participate in the process of outreach and charity. This shift in focus to charitably aligned corporations are able to help not only encourage employee involvement, but integrates the community into their business practices. A move from just signing checks to getting their hands dirty, corporate philanthropy shows a desire to be part of the change we all would like to see.