How Companies, All Sizes, Benefit from Corporate Philanthropy
Happy Memorial Day! On this day of remembering I’m grateful for all you do for your customers, employees, and the community. For those of you who engage in corporate philanthropy, here are three benefits your investment generates:
1. Improved Outward Focus.
Most businesses focus 90 percent inward. Inward focus swirls with internal politics, software crisis, and office organizing. Consider the United Airlines passenger dragging fiasco. The internally focused leaders prioritized the movement of their crew over their customer’s physical safety. They were so focused on solving their staffing challenges that they forgot passenger’s video expertise. In contrast, outward focus invests in customer experiences and developing better processes. Apple is one example.
2. Better Answers.
Get involved and you’ll meet people. In turn, they’ll teach you something. Often, if you listen, that “something” will help you solve your top challenge. Why? You’re primed to hear solutions. For example, Goodwill, Habitat for Humanity, and other organizations collect discards from households and businesses. The organizations transform these hand-me-downs into value. With fresh eyes, what aspect of your business might you improve by looking at value in your discards?
Economist Arthur C. Brooks states, “Thirty years of economic research prove that people who give more become wealthier.” Giving generates affluence. Economists, like Brooks, think this stems from the happiness that giving boosts. Happier people take more risks, place more calls, and say yes more often. Perhaps this is the reason that 65 percent of Fortune 500 companies match employee donations