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Why corporate giving is good business

12/10/08

The end of the year marks a natural time for giving, but many have been forced to cut back this holiday season. When times get tough and revenue drops, corporate philanthropy is one of the first things companies cut. But, cutting corporate giving out of the budget is an unwise decision.

Participating in philanthropic activities has proven to be good for business. In a 2007 survey of 751 corporate executives by the Boston College Center for Corporate Citizenship, 61 percent said corporate philanthropy makes a "tangible contribution to their company's bottom line."

In addition, an academic study presented at the 2004 meeting of the International Communication Association found that in nine out of 10 industrial sectors, corporate citizenship produced a positive impact on corporate revenue.

While corporate giving may give a boost to your bottom line, creating a philanthropic program that is aligned with your core values can have a lasting impact on the community and your business image.

Here are some ideas for corporate giving during the holidays and throughout the year:

  • Hold a canned food drive. Have each person in the office bring in canned food to be donated to a local food bank. Encourage employees to give by offering a free dress-down day for bringing in a certain number of cans.
  • Sponsor a volunteer day. Find local philanthropic causes that groups of employees can participate in. Take it one step further and allow employees to volunteer while on the company's time. They'll return to work inspired and motivated than ever before.
  • Organize a bake sale. Get all of the great bakers in the office to cook up their favorite treats for a company bake sale. Donate proceeds to a local charity in need.
  • Reuse leftovers. Put all of those extra business holiday cards to good use by sending them to wounded soldiers, sick children in the hospital or include a supermarket gift certificate and send a card to a local family in need.
  • Set up a clothing drive. Help your employees clean out their cluttered closets and give back to the community at the same time. Donate clothing to nonprofit organizations or local homeless shelters.

Not only can corporate philanthropy improve business, but it is the right thing to do as a contributing part of the community. Show how much your company appreciates the surrounding community and start giving back today.