Being recognized for Corporate Philanthropy has long been thought of as a nice PR benefit of business giving. However, “giving” just isn’t enough. Even being a good corporate citizen can be improved upon. Being a socially responsible business should be the goal of every company's giving program.
Corporate Social Responsibility makes good business sense.
Three Different Types of Business Giving
In 2017 corporations and foundations gave a record $87.67 billion to charitable organizations. While it is a long and noble tradition for businesses to give back to their communities, not all types of corporate giving are the same. There are three main ways to give as a business, and they are not interchangeable.
What Corporate Social Responsibility Could Mean to Your Company
Your team can take on the mission of “providing time, talent, and treasure to [your mission here] within the communities served.”
Approach corporate social responsibility by:
Community recognition also offer opportunities in recruiting, partnerships, and growth. More importantly it gives you a platform to spread the message of one of our guiding principles:
Why Corporate Social Responsibility Makes Good Business Sense For Your Business
Some businesses find it hard to justify any type of corporate giving, but this approach is wrong. If you are avoiding philanthropy completely or going through the motions with the wrong motives, it’s time for you to get a fresh perspective.
When done right, corporate social responsibility is a win-win for the business and its community. Being generous with business resources (money, time, & talent) places a company in a better position to attract strategic partners, employees, and customers. It makes good business sense to create a program of focused, intentional giving.
What Impact Does Corporate Social Responsibility Make?
The impact of being socially responsible as a business is far-reaching. For business owners, investing corporate time and other resources in corporate social responsibility programs is an excellent way to engender goodwill, connect with the community, and build a better neighborhood in which to do business.
Best Practices to Create or Improve Your Corporate Social Responsibility Program
Most companies have something more that they can offer to the world beyond their products or services. It could be their influence with partners that can help get things done, the expertise of employees, or access to financial resources to assist a charity or other organization in need.
Leading employers and organizations are taking corporate social responsibility to a new level. Whether you already have some programs in place and want to improve them or are starting from scratch, here are some best practices to create a winning program that will have the greatest impact across the various constituencies we listed.
For additional inspiration another excellent example of a company that has woven social responsibility into the fabric of their organization is Seattle-based GlassyBaby. Founded by three-time cancer survivor Lee Rhodes, the company's mission is to help alleviate the financial struggles that people face when fighting this disease. To date, it has donated over $9 million to various organizations that offer healing and hope.
Corporate social responsibility has become increasingly important over the past several years for its ability to engage customers, attract top talent and partners, and improve a company's reputation. Above all else, it's the right thing to do.
My Challenge To You -
If your company is in the early stages of developing or implementing your corporate social responsibility program, it is always a great time to focus on these efforts and gain the benefits. Start now.
If you have a program in place that your team doesn’t fully embrace, dial it up a few notches. Enhancing your programs makes good business sense. Keep going.
For those of you out there that have successful corporate social responsibility programs in place. Teach other businesses to do what you do. Create more socially responsible businesses. Continue to live up to your responsibility and give back to the communities where you earn your living. Take the next step.
It just makes good business sense.
About the Author
Our team has walked in your shoes. We have built, run and expanded numerous nonprofits and social enterprises.
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