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PwC’s 11th Global Family Business SurveyFriday, 05 May 2023PwC’s Family Business Survey 2023 comes at a time of great change. The optimism of a post-covid world has been sorely tested by the geopolitical
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A guide to family business succession planningFriday, 11 February 2022Succession planning is one of the most sensitive issues, and COVID-19 appears to have concentrated minds in this area. Topics such as
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Tánaiste and Minister Donohoe launch new €90m fund for Irish start-upsThursday, 10 February 2022The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD and the Minister for Finance, Paschal Donohoe TD launched a new
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3 Ways Philanthropy Can Benefit Your Business
1. Builds respect and reputation within the community - When you do good, people notice. Community members are more likely to support businesses that have shown a vested interest in helping the community. An article on entrepreneur.com used Facebook as an example. When Facebook decided to move to Menlo Park in the San Francisco Bay area years ago, community members worried about the impact the new employees could have on the city's infrastructure. In response, Facebook spent millions of dollars on infrastructural improvements, such as improving bike trails to reduce traffic congestion created by the throngs of new employees. The company also donated $120 million to nearby schools, which, unsurprisingly, helped boost their public image.
2. Boosts company morale - Owners often get so caught up in the daily grind, causing them to forget about the little things that contribute to their employees' joy and fulfillment. When it comes down to it, employees like working with people and companies that understand the importance of giving back. It improves their respect for the owner and company in general, which can increase employee satisfaction and morale. Happy employees are crucial for a thriving and sustainable business.
3. Presents networking opportunities - Philanthropic organizations are chock-full of business owners who make giving back a priority. Getting your foot into these organizations surrounds you with powerful, like-minded people. Plus, owners who give back tend to have a deeper trust for one another, meaning they're more likely to solicit your business if they need help with something that pertains to your area of expertise.
If your company hasn't engaged in philanthropic work, it's missing a key opportunity to boost unity, trust and morale. But more importantly, communities and the people within them - like Isabella - need our help. I hope you can find the time and resources to dedicate to these important causes.
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