Phrases like social responsibility, giving back to the community, and corporate philanthropy are showing up everywhere in recent years. Does sincere philanthropy really have a place in American business? Doesn't the idea of giving back contradict the goal of being profitable?
Corporate philanthropy, by some, has been called an oxymoron. While many companies are reaching out to do their part to make the world a better, cleaner, safer, and more educated place, there is still much to be done. Add to that the many lingering questions revolving around some companies' intentions and the stockpile of other challenges that employers face this year, and philanthropy may seem a distant and even confusing goal.
How can your business become involved in philanthropy this year, what do you need to know before you commit, and what exactly does "philanthropy" mean to your business in the first place?
I recently listened to the CEO of an innovative and growing company share his thoughts on giving to charity. He said that he had once offered a friend in need some money, and that friend responded by telling him that she didn't want to be given "charity." He responded by telling his friend that it wasn't charity – it was simply a loan.
A loan that would be paid back not to him, but to someone else in need. He was confident that the money would be repaid in twofold, as those given "charity" would continue to give to others and cause a chain reaction of spreading the wealth throughout the community.
This principle applies to the business world as well. By using company resources for philanthropic efforts and giving back to the community that supports you, you are essentially creating a domino effect of wealth in the world around you. As a company engaged in philanthropic efforts, you have the ability to combine forces and give back as a group. The potential impact of this is quite significant.
According to Network for Good, a website which allows users to make donations in one online location, approximately 109 million American adults, or 56 percent, volunteer annually. They average 3.5 hours per week – totaling 20 billion hours of volunteerism on an annual basis. That's pretty impressive on paper – but there are still many people who are not volunteering their time, money, or brainpower to a cause today.
Philanthropy, by dictionary definition, essentially means goodwill toward others, often shown through efforts concerned with human advancement or welfare. In practice, however, it can mean many different things to many different people.
The beauty of philanthropy is that it is not strictly defined or aggressively limited to one or two types of causes. There is a fit for every individual or group of people interested in taking part in a philanthropic effort.
Many companies are taking a holistic approach to philanthropy and threading philanthropic efforts through as many aspects of their company's operations as possible. This may cover anything from energy efficiency, waste reduction in manufacturing processes, getting groups together to build houses in the community, mentoring for a tutoring program, or donating money from sales profits to a cause that the company genuinely believes in.
With the "greening" of corporations now a hot trend and with so many companies now advertising their philanthropic creeds and initiatives, it may seem difficult to sort out who is just throwing around a bunch of glossy, slick PR moves – and who is actually getting their hands dirty and working to make a difference in society. In the future, we will highlight companies who we think are making a big impact with a fresh approach.
With that said, it is important not to get caught up in the motivation of other companies, but instead to focus on finding a philanthropic cause that you are passionate about and that is in line with your company values and culture. The discussions surrounding corporate philanthropy are not so much about a company's bottom line anymore, but more about the fact that developing this type of culture is important because it is the right thing to do for society.
There are a myriad of philanthropic opportunities to choose from – and at every level of involvement. This is your chance to lead a company-wide genuine effort to give back to the community, and how you choose to do that is up to you.
We intend to write more articles about corporate responsibility and philanthropy in the coming months. Our desire is to address issues that are important to you. If you have an idea for an article or have a story/anecdote that relates to the series, please write us and be part of this initiative. Just email ideas@careerbuilder.com with your ideas and make the subject, "CSR."
We look forward to hearing from you!
If you are looking for ways your company can give back, there are many areas where you can look for the perfect fit. Discuss these opportunities, and others, with your employees and you can find the perfect solution for your giving needs.
One of the most common ways for companies to be philanthropic is to work with established charitable organizations. However, selecting the right charitable organization to fit with the culture of your company is often difficult.
With thousands of gifts in stores and on the Internet to choose from, how do you decide where to spend your budget? What gifts will be most meaningful to the people you know? Should you really buy another coffee mug or calendar for your co-worker?
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