The money deducted from employees’ monthly salaries comprise a huge percentage of the donations. This boosts a company’s image since it shows how much more charitable a company is – when the employees themselves are willing to contribute to a cause. And since a company’s image experiences a makeover, it does wonders for marketing and the business as a whole.
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Still sticking to philanthropy and large companies’ employees – it was found that employees would prefer to help out more if they are familiar with the charity, or the cause, and if there are no restrictions whatsoever on the opportunities when it comes to donating. Nowadays, those restrictions have little by little been eliminated by technology since the internet provides a lot of avenues by which companies can help charities.
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The existence of skeptics and cynics cannot be avoided, though. A lot of people still question the sincerity of corporate philanthropy. Businesses, after all, are capitalist in nature, and without a doubt, companies get something in return after giving to a cause. They would be crazy not to. This calls companies’ motives in question. But the more important question would be: would the world rather not have companies help out on important causes at all?
Adam Rosenfeld, who heads The Rosenfeld Group, is one of the most trusted financial advisors in the United States. Learn more about him and his firm by visiting this LinkedIn profile.
