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How To Add Philanthropy To Your Business And Create A Win-Win

How To Add Philanthropy To Your Business And Create A Win-Win

Consumers are looking more and more to buy from socially responsible and philanthropic businesses. The Cone Cause Evolution study found that “83% of Americans wish more of the products, services and retailers they use would support causes.”

TOMS Shoes is just one example of a business following this model. By giving away a pair of shoes for every pair they’ve sold, TOMS has undoubtedly increased their bottom line, while giving away over 10 million pairs of shoes.

But it’s not only for large businesses with a sophisticated plan for corporate giving. More businesses could (and should) make a greater impact, as well as increase their their bottom line, by integrating philanthropy into their business model. Here’s why and how.

Your business will stand out from competitors

As mentioned above, customers latch on to powerful stories that involve social movements. Incorporating this into your business makes customers feel good about buying from you. Every time they do, they’re helping a cause.

Customers may be more loyal when they know this, too. The Cone Cause study above explains, “Forty-one percent of Americans say they have bought a product because it was associated with a cause or issue in the last year.” Businesses supporting causes clearly have an edge when they incorporate important causes and issues their customers care about.

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Motivation for employees

According to the Cone study, “Employees who are very involved in their company’s cause program are 28 percent more likely to be proud of their company’s values and 36 percent more likely to feel a strong sense of loyalty than those who are not involved.”

If employees feel their work is meaningful and makes a difference, they may work harder. Incorporating a giving program where employees are involved may create a more engaged and motivated workforce, which benefits both charity and your own bottom line.

Save on taxes

Depending on how you incorporate philanthropy into your business, you may be able to take a tax deduction. This is often true if you’re supporting a certified charitable organization.

The Small Business Association lists what you can write off, which includes:

  • Money. Cash contributions to charitable organizations are typically deductible.
  • Donation of goods. You can typically deduct the value of any goods you donate, including products you sell.
  • Volunteering. While you can’t deduct for the value of your time, other expenses can be deducted.

There may be even more tax deduction opportunities, so be sure to check with a tax accountant on what you can deduct.

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More media coverage

Erin Giles, a business owner and proponent of turning your business into a movement, received major media coverage just one year into launching her business. With Entrepreneur.com, Inc.com, Forbes.com, USA Today, and other major publications picking up her story, she was able to both further her business as well as her philanthropic movement, End Sex Trafficking Day.

While you don’t want to do good only to take advantage of press, it’s another nice bonus to giving back.

You’ll feel good

There’s something powerful about helping a cause. To start, if you’ve ever felt good after giving, that’s no surprise. This study from the Harvard Business School found giving to charity can make you happier.

If you read the title and decided to read this article, you likely agree with me that helping the world is an awesome feeling. But why limit it just to our personal lives? Integrating philanthropy into business can make your impact much more powerful and your work more rewarding, too.

How to do more with philanthropy

Once you’ve made the decision to include more philanthropy, you need a plan to do it right to really achieve a win-win.

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Share your story

While giving to charity and talking about it might seem tacky or like you’re bragging, I don’t buy this if you’re truly genuine in wanting to help. By talking about it more, you’ll hopefully garner even greater support.

Communicate to customers and clients clearly what you’re doing and why. Who are you helping?

Don’t use weak language like, “We donate a portion of all revenue to charity.” That’s boring and unlikely to get much support from anyone. Consumers want to know more about the charities you’re supporting, so give them all the details you can. Who are you supporting? How are you supporting them? And most importantly, why are you doing it? Outline all these things clearly in your marketing.

Pick a cause related to your business

Picking your cause is much more powerful if it already relates to what you’re doing. TOMS shoes didn’t decide to give away free t-shirts for a reason. Their business is shoes, so that’s what they give.

Customers likely already have some sort of attachment to the product you sell, and doing something related to that can mean they’ll care more about the cause you’re supporting, too.

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Be genuine in making an impact

While incorporating philanthropy can help your bottom line, that’s not the only objective. Don’t launch a philanthropic campaign for selfish reasons. Customers can sniff out fakes.

Some campaigns we’ve seen by large businesses just aren’t as convincing to me, especially when they exploit “cause marketing” merely to benefit their bottom line.

Maybe their intentions were good, but you still need to be careful it doesn’t come off as a marketing ploy. Go all-out in your efforts to support charity, and everyone will win at the end of the day.

Has your business incorporated philanthropy? If yes, how?

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How To Add Philanthropy To Your Business And Create A Win-Win

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Last Updated on November 5, 2018

20 Best Places to Work for a Great Career in 2018

20 Best Places to Work for a Great Career in 2018

Looking for a job? There’s no doubt to the fact you will want to work with a company that appreciates you for who you are.

Well, good news. The labor market today is one that has peened up with more opportunities for advancement and personal employee improvement. This is partly due to the fact that a lot of companies have been made to understand the value of their biggest assets: the employees.

To wit, here’s a list of companies- across a wide array of industries- that have been able to develop working environments that are healthy and accommodating to workers.

Take a look at these 20 best place to work for a great career:

1. Salesforce, San Francisco, California,

    Salesforce is in the information technology business and the company ranks highest due to their commitment to learning and innovation. They are ready to try new things and everyone with a new idea is always welcome to share it at the company. The company has also been known to exhibit an exceptional approach to alignment.

    Find out more about careers in Salesforce

    2. Wegmans Food Markets Inc.,Rochester, New York

      Based in Rochester, New York, employees have been known to enjoy a sense of purpose from working here. The company has been able to achieve an optimal level of engagement across all working tiers and they’ve been able to achieve great things together. They even do deliveries.

      Find out more about careers in Wegmans

      3. Ultimate Software, Weston, Florida

        Employees get amazing benefits here but that’s not the only reason why this place is so awesome to work. Whenever there is a need or a death of an Ultipeep or any of other family members, the company shows love and support like no other.

        Find out more about careers in Ultimate Software

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        4.The Boston Consulting Group, Inc., Boston, Massachusetts

          Development is at the center of anything that goes on here. The business is about people and employees are the company’s biggest asset. Employees are able to challenge the status and also leave impacts on clients.

          Find out more about careers in The Boston Consulting Group

          5. Edward Jones, St. Louis, Missouri

            Edward Jones is admired for their ability to acknowledge history without being mired down by it. The company builds on a solid foundation but there is also a level of flexibility that allows for innovation.

            Find out more about careers in Edward Jones

            6. Kimpton Hotels and Restaurants, San Francisco, California

              Kimpton is a trendsetter in the hospitality industry. The company always strives to try something different and that perspective is welcomed there at all times. Enjoy the weekends with luxury rooms, conformable mattress, furnished and well dressed service staff. A great opportunity for job seekers.

              Find out more about careers in Kimpton Hotels and Restaurants

              7. Workday, Pleasanton, California

                Newbies will find no issues with feeling welcome and at home here as this has always been a core culture component of the IT giant. Everyone is treated like family and this fosters a sense of oneness.

                Find out more about careers in Workday

                8. Genentech, South San Francisco, California

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                  Here, employees are encouraged to be themselves. There is a feeling of care, safety, and acceptance that you get here that you can’t get at many firms. The development of an all-inclusive environment has always been foundational.

                  Find out more about careers in Genetech

                  9. Deloitte, New York, New York

                    Deloitte is one of the biggest professional service providers in the world, noted for their focus on constant learning, development and improvement. They invest in their employees and are concerned about their well being.

                    Find out more about careers in Deloitte

                    10. Baird, Milwaukee, Wisconsin

                      Baird is a financial services provide that is known for adopting a “no asshole policy’ which guides the way people relate with and respect each other, regardless of their position on the company’s hierarchy.

                      Find out more about careers in Baird

                      11. Quicken Loans, Detroit, Michigan

                        At Quicken Loans, the views and opinions of everyone are respected and heard. The organization is revered for the amount of investment they put in their team members and everyone looks for ways to grow and be better.

                        Find out more about careers in Quicken Loans

                        12. Capital One, Mclean, Florida

                          Capital One has adopted a culture that encourages employees to take risks and try new things. They foster a healthy work-life balance and associates are challenged to live better lives.

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                          Find out more about careers in Capital One

                          13. Cooley LLP, Palo Alto, California

                            Cooley LLP is a law firm known for their ability to care about the company culture and being able to develop a working environment that is empowering and fun. Cooley is known to go for the best when it comes to their employees, regardless of the occasion.

                            Find out more about careers in Cooley LLP

                            14. Southern Ohio Medical Center, Portsmouth, Ohio

                              The medical center has been known for their propensity to delegate so much to their employees, thereby providing them with the ability to grow and learn on the job. In the end, you get a workplace that is all-engaging and super fun.

                              Find out more about careers in Southern Ohio Medical Center

                              15. American Express, New York, New York

                                American Express is a firm that celebrates wins, no matter how small. Everyone is made to share the same attitude towards service and the people they are to serve, thereby making people care about what they do.

                                Find out more about careers in American Express

                                16. Adobe Systems Inc., San Jose, California

                                  The culture at Adobe Systems is one that encourages employees to develop their own ideas and get a strong viewpoint. As opposed to encouraging competition, work-life balance is fostered everywhere here.

                                  Find out more about careers in Adobe Systems Inc.

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                                  17. The Cheesecake Factory Inc., Calabasas, California

                                    The Cheesecake Factory rewards dedication and hard work. Promotions come pretty easy, and there is always space for guidance to develop your experience and skills.

                                    Find out more about careers in The Cheesecake Factory Inc.

                                    18. Sap America, Newtown Square, Pennsylvania

                                      If you’re looking for a new career path, SAP might be the best bet for you. The company is adept at recognizing value and transferable skills. And you can always look for a new path while maintaining your employment.

                                      Find out more about careers in Sap America

                                      19. NVIDIA Corporation, Santa Clara, California

                                        NVIDIA is known for looking after even the smallest of things. With even a “pets allowed” policy this company accepts you for who you are, and helps you to work within your personality. Advancement is also fostered, and you are able to collaborate effectively.

                                        Find out more about careers in NVIDIA

                                        20. KPMG LLP, New York, New York

                                          Communication and progressive collaboration are the foundation of this company’s workforce treatment. Regardless of the level you are, someone is always at the ready to help and the company rewards extra effort with gratitude.

                                          Find out more about careers in KPMG LLP

                                          All in all, it’s safe to say that you will be able to find somewhere to apply your skills (whatever they are) that is all inclusive and highly accommodative. Companies today are being made to understand how much they can get when they treat their employees right and this has opened the door to an encouraging work environment for all.

                                          Happy job hunting!

                                          Featured photo credit: Pexels via pexels.com

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