5 Benefits of Adding Corporate Philanthropy to Your Business

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Adding corporate philanthropy to your business can help in providing benefit to your community, but also your business and the employees. Helping others without asking for a return is the best deed you can do in your life and it can help in the growth of your business with increasing customer engagements.

One of the examples of being a better leader is Thomas Kane, Managing Director and Private Wealth Manager at Merrill Private Wealth Management. He is helping many new businesses in their growth and also donating to charities to support those who need help. The Chicago- based company is actively supporting non-profitable organizations for their cause.

Here are five benefits of adding corporate philanthropy to your business:

Increase employee engagement and productivity

Research says that approximately 78% of the employees want to engage with social responsibility initiatives. Adding corporate philanthropy to your business can motivate the employees to form deeper connections and also help in increasing employee engagement. 

Increased employee engagement can help in the improvement of effective work, productivity, and results in better business.

Improve brand awareness and reputation

Adding corporate philanthropy to your business can also help in establishing a better brand reputation among the employees, customers, clients, and community members. When you allow your employees to participate in your community service as a volunteer, this will make the employees feel valued in the organization.

When you involve your business in community service, more people will start noticing you and your brand reputation will be much improved. When your organization is selflessly providing help to others, it will provide you a large area of opportunity to connect with the new audience who will be interested in joining your goal.

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Tax deduction

When you allow your business to add corporate philanthropy then your business can able to get a charitable donation tax deduction. When your business provides support to non-profitable charity and even if they provide charity to the non-profitable organization It can help them to receive tax-deduction and that can help in lowering your tax bills and can reduce taxable income.

But you should make sure that your business is helping others without asking for any returns. Take your tax deduction as just an award for helping others and nothing more.

Increase sales

Well, having corporate philanthropy in your business can help you to attract a new audience for your business. A report says that people will want to spend more time with the brand that provides service for a social cause. 90% of customers will try to connect with a business that supports social causes rather than going for some other business.

To increase your business sales try to market your corporate philanthropy to the public through social media platforms, advertisements, or awareness activities. More and more people will try to connect with your organization due to your support for the cause and this will automatically increase your sale.

Giving back is good for you

“Alone we can do so little; together we can do so much,” said Helen Keller, an American author, disability rights advocate, political activist and lecturer.

We now understand that there are lots of benefits in adding your business to corporate philanthropy but it also provides you inner satisfaction and happiness of helping others. This is the best way to teach the younger generation the importance of helping others.

Tom Kane Merrill Lynch is also helping new businesses to overcome the problems and provide them better growth for the future. He is also helping new businesses to overcome problems and provide them better growth for the future.

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