- September 3, 2008
- 0 Comments
Philanthropy…Is that a New Clothing Store in Town?
Um, no.
But it is true that for a lot of us, “philanthropy” is a new and unnavigated concept. Throw workplace involvement into the equation – i.e. “corporate philanthropy” - and it gets even more complicated. 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 stockpile of other challenges that employers face right now, and philanthropy may seem a distant and confusing goal.
What is philanthropy, exactly - and what does it mean to your business in the first place?
The Domino Effect
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, Defined
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.
Keeping up with the Joneses’
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.
With that said, it’s 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.
My suggestion? Start shopping around.
- Have a response? Join the discussion.
- Categories: Employer Advice, Philanthropy
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