Pay it Forward. Ways A Business Can Give Back. - ActionCOACH

Winston Churchill once said, “We make a living by what we get, but we make a
life by what we give.”

Corporate philanthropy has never been more important. Since the pandemic started, nonprofit organizations have seen their monthly donations drop and the loss of volunteers has crippled the delivery of services. Because nonprofits do the heavy lifting in our communities and serve the underserved, it is critical that companies help fill the gap.

Money donations and sponsorships may seem the easiest way to give back, but not every small business can cut a check big enough to really make difference. While no monetary donation is never going to be turned away, consider the list of options when creating a ‘giving’ strategy for your organization.

First, consider what nonprofits align with your company vision and mission. There are likely several local or regional organizations the work toward similar ends. Since it is impossible to effectively support many charitable efforts at one time, choose wisely and choose organizations that speak to you and your team. Whether it is ending hunger, offering educational services to at risk children, improving literacy or reducing the impact of homelessness in your community, narrowing the focus will allow you and your team to make a bigger impact.

Once you have a list of the causes your company wants to support, map out how you are going to give. You will want to create different ways everyone in the organization can participate. Here are a few ideas.

• Paid Volunteer Days
• Office Drives and Collections
• Letter or Card Writing Campaigns
• Corporate Team Events
• Pro Bono Services
• Corporate Fund Matches

Get the whole team involved and find opportunities when you can participate as a group. Many organizations have fundraising events that work well for a group. Make sure the activities are accessible to everyone in your organizations. Don’t choose all 10-Ks or Fun Runs. Find more passive ways so that everyone in the company can participate equally.

There are a lot of benefits of getting involved in charitable endeavors beyond the impact on the community at large. https://www.givinga.com/corporate-philanthropy-benefits/

1. Up to 78 percent of employees want to engage with corporate social responsibility initiatives. And engaged teams are more productive. Research by Gallup even found that teams with high employee engagement have 21 percent higher productivity than their counterparts.
2. The second key benefit of corporate philanthropy is improving your brand’s reputation with employees, customers, prospects, partners, and the community at large.
3. Businesses are only as effective as their employees – and employees are starting to demand attention to corporate responsibility, philanthropy included. It’s part of a larger shift in society where employees want their employer to balance the pursuit of profit.
4. Corporate philanthropy doesn’t just help attract talent; it also helps attract new customers. Studies show that people will spend more with brands that support causes. When choosing between two brands of equal value, 90 percent of consumers are likely to switch to a cause-branded product.
5. While companies shouldn’t give with the sole expectation of financial gain, the fact is, helping a charity in need does provide economic rewards.

“Your company and the team behind it have the power to create substantial lasting impact through volunteerism and philanthropy” (Hall, 2021). https://www.inc.com/tanya-hall/seven-ways-companies-can-give-back-to-community.html