According to a study by Cone, 91 per cent of global consumers expect companies to not only make a profit, but also operate responsibly to address social and environmental issues.
This shows that communities and stakeholders value and expect good corporate citizenship.
Management teams and corporate boards are looking for evidence that investments in corporate citizenship are paying dividends, not only to the communities but to the business bottom line. One way to assess the impact of corporate philanthropy is to review the annual CSR report. Most are filled with pictures and stories of how their programs make a difference.
An article in richtopia.com lists out a few of the many benefits of Corporate giving programs.
Corporate giving starts shaping up you as a brand. Authentic philanthropy programs support company values and aren't just PR driven.
'For instance, leading grocer Wegmans provides donations to local communities and empowers employees in those stores to make giving decisions. This commitment to philanthropy is a key reason that Wegmans is one of the most loved grocery chains in the country. They do far more than just write checks — they offer a mission to believe in,' the article states.
Companies with corporate giving programs build their brand reputation more effectively than those brands just focused on profit.
In Cone’s Global CSR Study, consumers state that they have a more positive image of (93%), are more likely to trust (90%) and are more loyal to (88%) companies that support social and environmental issues.
Another important aspect of Corporate Giving programs is the tax benefits.
Panera Bread provides a great example of effective product donation.Their Panera Gives program provides gift certificates or fresh bakery products to non-profits hosting charitable events. Panera’s Day-End Dough Nation donates unsold bakery and bread items to organizations that aid with hunger relief (and also other non-profits).
It is easy to extend support to your community as you don't have to look far beyond the products or services you already provide to consumers.
Wyndham Hotels, for instance, donates hotel rewards points. This allows them to not only do good in the community but also get the word out about their hotels. They are able to tie their donation program to their product and build their overall brand reputation. Another not-so–obvious example comes from Waste Management. The company donates garbage disposal services to fundraising events.
Corporate giving programs have lot more benefits by investing in good.