As an accomplished executive assistant, Paula Pipitone understands philanthropy’s vital role in business planning and success. While many people may not look at philanthropy as a corporate strategy, there is no denying its role in brand loyalty and recognition. That said, companies do not only participate in philanthropic agendas for professional gain. Brands usually champion charitable efforts to improve the environments and communities they operate within. Still, philanthropic involvement is essential to maintain industry relevance and secure corporate advantage.
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Paula Pipitone Talks About the 3 Advantages of Corporate Philanthropy
There is no time like the present for companies that have yet to dive into the philanthropic landscape. If a business wants to show its commitment to a community or a cause, there is no better way than directly contributing to non-profits or communities.
By investing in philanthropic efforts, a company can develop credibility in a specific sector and gain new consumers or clients. There are many benefits to embracing corporate philanthropy, which go beyond self-interest or preservation.
1. Community Benefits
The primary advantage of corporate philanthropy is that it allows a company to make a real difference in the communities it serves. For example, a company may invest in local farmers for produce or materials for its products. According to Paula Pipitone, many philanthropic efforts are community-focused because they provide the biggest and quickest changes for consumers.
That said, a company may partner with charitable organizations to create more lasting change or to reach a larger sector. Many charitable organizations focus on changes in the legislative and infrastructure side of things to encourage long-term and substantial change.
2. Recruitment and Employee Boost
Companies giving back to communities or supporting charities can bolster recruitment efforts and improve employee morale. It shouldn’t come as a surprise that many people want to work for companies that support the causes they believe in.
When people can work for businesses that support charities they care about, it can make them feel like they are connected to the cause. Even when an employee isn’t directly connected to the philanthropic side of the business, the company’s actions give them pride in their work.
3. Company Image
Finally, when a company donates time and money to a noble cause, it can improve its brand image. People like to see that the companies they support are charitable and give back.
Many modern consumers show support and love for brands that push environmental causes. However, they also expect companies to practice what they preach by improving the sustainability of their manufacturing and logistical practices.
Corporate Philanthropists Argue Efforts Are About More Than Corporate Gain
Paula Pipitone and other professionals point out that corporate philanthropy is about making a real difference in the world, not just improving profits and popularity. Consumer brands are uniquely positioned to share the wealth and make a real difference in the world. Most brands feel a responsibility to give back.