5 Ways How Your Company Can Benefit From Giving Back
Amidst crowdfunding projects and campaigns, corporate philanthropy, or giving back has spread its powerful wings over a vast area covering most of the public and private sectors. While giving back a portion of your economic wealth may seem to be taxing, however, it has its perks too. Without being speculative about what it is, let’s move on to 5 prominent benefits that your company can receive from giving back.
Builds up your company’s reputation and self-esteem:
Contributing to charitable funds bolsters your company’s reputation and prestige. It stabilizes the self-esteem of your company and elevates it to the level of tough legit competitors in the market. The greater the efforts are, the better your brand perception will be. This eventually allows you to reach out to more audiences thus lifting your brand’s name and positive buzz.
Enhances better company culture:
A worthwhile contribution of employees within a company improves its internal culture. Apart from getting to know each other from the perspective of professional standards, giving back lets them experience one another in the light of philanthropism. Such activities, in turn, maintain the integrity of the workplace by aligning corporate goals with themselves.
As an active philanthropist, G Scott Paterson co-founded Toronto’s Merry Go Round Children’s Foundation in 1997 and currently serves as its Chairman. Technology and media venture capitalist Scott Paterson Toronto, has helped lead a number of tech firms as they establish themselves as major players in their respective industries.
Strengthens your company’s connections in the society or community:
Giving back from your company not only creates a strong impression as an accomplished organization in the society but also helps in the company being seen as a role model of empathy, loyalty, and compassion.
It offers a chance to gel up with people and make some priceless connections outside of the corporate ambit.
Aids in tax benefits:
Obtaining tax benefits is perhaps one of the major materialistic takeaways from charitable giving. A company’s giving back is largely associated with considerable tax deductions. While a company’s protocol doesn’t allow it to redeem avarice and give with the prime expectation of financial gain, however, companies typically receive economic rewards from charitable giveaways. Hence, a giving can also offer you a simultaneous saving on the other hand.
Increases manpower and productivity:
It is observed through robust research and surveys that nearly 80% of the working professionals tend to engage with corporate sectors involving social responsibility initiatives. This is so because such sectors or organizations provide them a golden opportunity to be in touch with philanthropy more closely and make deeper connections with the society while working for survival at the same time. Corporate giving serves as a reliable platform to contribute to a noble cause on behalf of the company or organization, which otherwise is not feasible to that extent.
Thus, the engagement of more number of employees or workforce impacts directly on the company’s productivity. With a rise in manpower, there’s an exponential growth in yield too.
We all are aware of the popular phrase “give and take”. Yes, giving is indeed taking. Giving a bit of your bucks doesn’t reduce your wealth, instead, you get to take away so much more than material wealth, which is cashless and priceless. The inner satisfaction you experience on your company’s brighter tag is the biggest reward, being a part of the company.