Over the years, prospective employees have begun looking for different features and perks in their jobs. Before, salary or wage was the main factor on whether an employee accepts a position or not. Then came the focus on other benefits such as insurance coverage and retirement packages. Eventually some prospective employees began taking jobs that paid less, but had better benefits. Recently, a new trend is emerging in the search of new jobs. CEOs like former Polycom CEO Andy Miller are attempting to use philanthropy to attract talent and even acquire new customers. How exactly are these CEOs using philanthropy to their advantage, and is it effective in acquiring talent and new customers?
One of the biggest positives to corporate philanthropy is the positive publicity it can bring a business or brand. There is no better way to appear like a caring company than finding a charitable cause and supporting it.This makes corporate philanthropy pretty popular, as both parties can benefit from it. Those that receive the aid are obviously grateful for the help, but the corporations also receive some positives too. Customers are much more likely to do business with a brand that is known for its charitable work. In addition, all the positive press coverage of your company will make it much easier for you to attract top tier talent. Reputation is everything in the business world, and it alone can make or break your company. That’s why corporate philanthropy can be so important for you and your business.
Companies aren’t simply supporting charities anymore, they’re also supporting their employees passion projects. Most people have a cause that they truly believe in, and would love to support if they were able to. These causes can range from topics such as ending poverty in a location to raising the quality of education for children. Seeing these goals and beliefs come true is a truly magical experience that is unlike anything else. That is why some companies have offered donations to their employees towards their passion projects. By doing this, you are not only supporting your employees cause monetarily, but also throwing your entire corporation’s weight behind the cause as well. Supporting what your employees believe in is an extremely attractive quality when looking for a potential employer, meaning that if you support your employee’s passion projects then you are much more likely to attract top talent.
A corporation that donates a lot of time, money, and effort to charity is a great sign that the corporation is extremely efficient with their costs. Chances are, a struggling corporation could not afford to engage in philanthropic activities, while a healthy corporation should have no problem. In addition, recycling or reusing assets to give to charity can show great innovation. Instead of simply throwing away or wasting these assets the corporation puts them to better use. A company that is engaging in philanthropic activities is typically a strong and healthy one, which is very attractive to top talent.