The Case for Corporate Philanthropy
With strict deadlines, limited time, and high pressure busy seasons, many companies ask themselves if it’s worth it to implement corporate volunteer programs. The answer to this question is undoubtedly, yes. The case for corporate philanthropy is a strong one supported by countless benefits that contribute significant business value. Here is a list of just six of the powerful benefits to be gained through corporate philanthropy:
- Creates Purpose. Volunteering allows employees to find a sense of fulfillment and purpose among the monotony of the day-to-day. This sense of purpose translates to increased enthusiasm, motivation, and job satisfaction.
- Increases Engagement. Deloitte’s Annual IMPACT Study found that Millennial employees who participated in workplace volunteer activities were twice as likely to rate their corporate culture as positive compared to those who rarely or never volunteer. Employees who volunteered were also more likely to be proud to work for their company, feel very loyal toward their company, and be very satisfied with their employer.
- Boosts Employee Morale. Volunteering allows colleagues to work together as a team on non-work related tasks. This can foster positive relationships among coworkers, build bonds and connections, and improve overall team cohesiveness.
- Attracts New Talent. The Millennial generation, in particular, places a high value on giving back and they seek employers who can support this value. By advertising company volunteer activities on job postings, company websites, and social media, you can attract prospective employees.
- Demonstrates Company Values. Corporate volunteering is an excellent way to humanize a brand and showcase an organization’s beliefs, tenets, and culture. Corporate volunteerism is a powerful way to create a positive company image both internally, and externally.
- Improves Employee Health. Research has shown that volunteering has a positive impact on both physical and mental health. A study conducted by UnitedHealth Group found that 76% of U.S. adults who volunteered, reported that volunteering made them feel physically healthier. In addition, 78% reported that volunteering lowered their stress levels.