Providing resources to those in need is the hallmark of any great business. Helping others in need isn’t always done on a personal or individual basis. While many people contribute to charity with donations or volunteer time, there’s a philanthropic side to the business world, as well. Today, especially with the power of the internet, businesses large and small take part in various philanthropic initiatives to positively impact the lives of others in need, as well as their own employees. Although it may not be the main focus for a business, there are a few different reasons why businesses should consider involvement with charity and give back to others.
Encourages Employee Engagement
Nothing promotes employee engagement more than having positive interactions with the community. Charitable activities allow employees to interact with one another in ways that are disconnected from the typical work environment. This leads to employees having a higher amount of strength and tenacity to get goals accomplished.
Improves Company Reputation
People are more likely to seek out the products and services of companies that participate in philanthropic activities. Customers want to be assured that businesses are dedicated to social, environmental, and other causes that align with their own values. A company’s reputation for charitable giving can propel it towards greater success and profitability.
Builds Relationships
Volunteering time and resources to worthy causes contributes to the building of meaningful relationships. Civic leaders, other businesses, and potential customers often come together to carry out charitable acts. This type of engagement builds long-lasting relationships that may be beneficial to the company in the long-run.
Empowers the Community
Communities need to know that local companies are working on their behalf to make the community better. The knowledge of this information empowers the people of the community to help others and to help themselves. People in communities benefit when companies give their time and resources to a great cause.
Leads to Positive Health Benefits
According to the National Institutes of Health (NIH), participation in charitable activities improves mental and physical health. People who volunteer are less likely to experience depression because philanthropic activities create networks and relieve stress.