Companies benefit from giving back to the community through corporate social responsibility, and businesses have been making charitable contributions for decades. But how, exactly, they’ve been engaging in corporate philanthropy has changed recently.
Salesforce’s 1-1-1 model is known as one of the global leaders in integrating philanthropy and business. This model of philanthropy is based on the commitment to giving back 1 per cent of your resources, technology, and time. Salesforce first introduced this concept by leveraging their technology and resources to help those in their community and around the world.
Salesforce makes this model work through their Employee Engagement Program. Through the program, employees receive seven days of paid time off a year to dedicate to volunteer work. After they’ve reached their seven days of volunteer time off, they have access to a $1,000 grant they can donate to a nonprofit of their choice.
This article details a specific example of Salesforce’s corporate philanthropy in Haiti following the 2010 earthquake. “Salesforce has supported the rebuilding of the country by providing free licenses to any Haiti based organisation, and has been engaged in different ways, supporting governmental social programs, and initiatives of local non-profits organizations and businesses.”
4 Reasons Why Charitable Effort is Worth It for Your Company
In addition to helping those in our communities, there are several business-specific benefits to corporate giving no matter how large or small your organization may be:
Tax Deductions
As long as you’re working with a nonprofit that is approved by the CRA, there are many ways to earn tax deductions from giving to charity. These include cash donations, sponsoring charities and events, and donating products and services. You can find details on charitable giving directly on the CRA’s website.
Publicity and Networking Opportunities
Sharing your time and resources in support of a charity is a great way to do the right thing whilepromoting your company’s culture and values. Announcing your corporate philanthropy on platforms like social media can bring increased awareness to the cause, and asking charities to publicly name your involvement as a supporter can open up networking opportunities and build your brand’s reputation.
Enhance Customer Loyalty
Not only can you develop a new audience for your products and services, but by giving back, you may enhance the support and loyalty of the customers you already have. This especially works well if the organization you choose to support is within the same community as your target audience—customers are able to see the influence your company has on bettering their community directly.
Employee Benefits
Many companies offer benefits beyond vacation time and health insurance. Offering employees paid time off just to volunteer entices job seekers, especially Millennials who actively seek out companies that make a difference.
This Forbes study from the Case Foundation says, “55 per cent of employees [are] influenced to take their job after discussing cause work in the interview,” among other positive pro-volunteer stats. Additional research supports this idea, some of which you can read in the following articles:
- 5 Reasons Your Business Should Support a Charity
- How to Start a Volunteer Program
- How to Incorporate Charity Into Your Business Model
There are obvious benefits of corporate social responsibility. Salesforce and its 1-1- 1 model are leading the way, and research supports the advantages of a company culture that encourages volunteering and corporate giving.
