As a real estate development professional and president of Reliable Properties in Los Angeles, California, Jack Nourafshan has gained a strong understanding of business practices over the years. One of the business practices that he has seen growth in recent years is corporate philanthropy. Not only is it important to learn more about what corporate philanthropy is, but it is also important to understand how to implement it as a business owner.
What Is Corporate Philanthropy?
Corporate philanthropy refers to a company that actively supports and benefits the great community or a charitable cause of the company’s choice. Corporate philanthropy is an important part of today’s charity, as it provides money and support at a greater scale. Corporate philanthropy can be implemented in numerous ways, from volunteer opportunities to holding food drives, companies can be creative with their philanthropy. More companies are seeing an increasing demand from potential employees for corporate philanthropy, making it important to follow the helpful tips below.
Establish A Cause
After deciding to implement corporate philanthropy, companies should request feedback from their employees and customers on causes and organizations are important to them. In doing so, you can encourage participation while supporting something that is meaningful to as many employees as possible. Causes that are important to more employees can lead to both increased support and better company culture.
Partner With An Organization
After determining the cause, find an organization that supports the cause that your company can work together with. Organizations have begun creating different levels of partnerships that companies can choose from for their corporate philanthropy. Many organizations offer sponsorships during their annual events that include promotional incentives for companies that are easy to implement.
For example, golf tournaments have begun offering marketing space in the golf booklets that are provided to the golfers, as well as signs on the different holes. This can increase the community’s awareness of both your company and your company’s philanthropy. While it is only one example of the options of corporate philanthropy, it can be a great option that is easy to implement.