Leading employers around the world are increasingly finding ways in which to give something more than just the products they sell to the world. Corporate philanthropy and giving something back are being added to the core philosophy of many of the best employers. They are searching for ways to engage their employees and create a connection between what they do in the workplace and a variety of worthy endeavours in local communities.
Workplace philanthropy has many more levels than simply donating money to good causes; it can also foster a culture of inclusion and improve employee commitment to both the company and the brand. Business leaders such as Joey Horn, who provides both financial support and expertise to a variety of causes, recognise the power of giving and how one simple act of generosity can start a ripple effect that benefits many people for a long time to come.
In the PDF attachment you can find out more about key ways to build philanthropy into a successful business model.
Improving Employee / Business Relationships
One key benefit of corporate philanthropy is that it has been shown to improve the relationship between employees and the company they work for. Fortune jointly with the consulting firm Great Place to Work recently announced a list of the Best Workplaces for Giving Back, which looked at companies that engaged in activities such as providing community projects with financial support, using their position to raise awareness or funds for worthy causes, advocating the expertise of their employees, or a combination of all three.
The research backing this list found that there is a vital link between how committed employees are to their work and how involved their company is in the community. The list surveyed some 357,000 employees and found that people were as much as four times more likely to agree that they and their work teams were willing to go the extra mile to do a great job when they worked for companies that fostered positive philanthropical opportunities in the workplace. These individuals were more likely to be proud to be ambassadors for their brand and to stay with the company for a longer period.
The Rise of Female Philanthropists
The upper echelons of wealth management are still dominated by men, with the top 100 venture firms in the world having only 8% female partners, according to data gathered by Crunchbase.
Between 2012 and 2017, 90% of venture dollars went to all-male teams. However, the Forbes list of billionaires published in 2018 showed the highest ever number of female billionaires at 256. You can discover some of the wealthiest women in the world today in the infographic attachment.
While this is still only a relatively small proportion of the 2,208 entries on the list, women are slowly but surely beginning to control a larger percentage of global wealth. With statistics showing that women in a position to do so will give away twice as much of their money as men in the same position, it makes sense that we will see a shift in the way people give.
Women tend to be more cooperative in their giving than men, often joining together in giving circles to increase the impact of their philanthropy. Impact investment in women and girls is also likely to rise as this offers one of the best yields for social returns. In the short video attachment, you can find out more about impact investing.
Finally, women have demonstrated more eagerness than men to focus on impact investing and sustainable investments, looking at social and environmental returns as well as financial.