Even as companies are restructuring their operations to better manage products and services, they are still committed to charitable giving, but with a slight spin. In fact, the Council on Foundations, a membership association of more than 2,100 grant making corporations and foundations, defines the “new philanthropyâ€ as much more than a tax deductible check, but a strategic business imperative.
Corporations now understand that there can be a direct link between engaging in social responsibility and the company’s bottom line. More and more companies are learning that time is money, as they are encouraging–and in some cases mandating–their employees to volunteer in areas that strengthen communities and improve the human condition. Benefits are huge for the recipients, but they are also considerable for the corporation.
Here are some findings:
83% of Americans have a more positive image of companies that support a cause they care about.
65% of Americans would switch to a brand associated with a good cause, price, and quality being equal.
87% of employees at companies with cause marketing programs feel a stronger sense of loyalty to their employers.
This month, black enterprise has identified four professionals who are pursuing social passions outside of their work. Humanitarian efforts range from building affordable houses and mentoring young people in the disciplines of science and technology to using sports as a way to develop awareness and build character. Their stories affirm the importance of their work and the benefit they provide to society. These individuals have recruited the support of their respective companies and, together, are making strides to impact the world.