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Corporate philanthropy: What do you need to know?


There are some myths to bust about corporate philanthropy. First things first: Philanthropy means much more than money.

Sarah Davies, CEO of Philanthropy Australia, sat down with HRM TV to outline ways companies can create real change in their community and reap some of their own benefits as well. But this goes beyond writing a check or having corporate philanthropy as a glitzy side-project. There are so many ways for organisations to give back that money is no longer a differentiator, she says.

She outlines the three key steps every organisation needs to take before creating a philanthropy strategy, plus the one question that starts it all: What do we want to accomplish or change? Is it social justice? Support for the arts? Environmental improvement? No matter the desired outcome, the initiative should be fit-for-purpose, and it needs to involve employees every step of the way.

In return, there are a number of well-evidenced benefits that companies can expect when corporate philanthropy is done well. A number of Australian and international studies show meaningful corporate philanthropy programs lift employee engagement, loyalty and perceived value of working at the organisation. Not to mention the individual boost employees receive from feeling like they are part of something great.

Ready to get started? Here’s what you need to know to give and get the most from your philanthropy program.

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