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Charitable Giving Is A Sound Strategy For Businesses Of Every Size & Shape

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Companies Are Judged By What They Do, How They Behave, What They Support, Or Don’t

By Paul Adler

In today’s competitive landscape, it’s easy for businesses to get caught up in the race to the bottom, focusing solely on profit margins and market share. But there’s a growing movement among small businesses that are realizing the power of a different approach: one that integrates charitable giving into the very fabric of their operations.

paul adler
Paul Adler – Rand Commercial

The act of giving is not just about feeling good or good optics. Studies have shown that corporate social responsibility, including charitable giving, can actually lead to significant business benefits, including boosting the bottom line as well as raising a company’s profile. Consumers are increasingly drawn to brands that align with their values, and supporting worthy causes can enhance your reputation, attract talented employees, and boost customer loyalty.

In this day and digital age, companies are judged as much by what they say as what they do, how they behave, what they support, or don’t. Charitable giving is part of a company’s brand; it speaks to the company’s sense of its place in the community – even and especially when that community is a global one.

And the benefits of charitable giving extend well beyond the bottom line. By actively contributing to the communities we serve, we foster a sense of belonging and purpose for employees, create positive change in the world, and ensure a brighter future for all.

Here are three key actions businesses can take to effectively integrate charitable giving into their operations:

  1. Partner with local organizations. Instead of spreading yourself thin, find a local cause that resonates with your values and mission. This allows you to build meaningful partnerships and make a real impact in your community where the interests of the business community align with the community as a whole.
  2. Get your employees involved. Volunteering opportunities are a great way to team-build, boost employee morale, and connect with the community. Consider offering paid time off for volunteering or organizing company-wide events to support your chosen cause. Having a common cause among your team builds a sense of camaraderie and solidarity – an important element of running a successful company. Many firms also match employee contributions to designated charities.
  3. Make it a part of your budget. Allocate a specific budget for charitable giving, just as you would for any other business expense. This demonstrates a commitment to social responsibility and ensures consistent support for your chosen cause. And of course charitable giving is tax deductible.

Integrating charitable giving into your business doesn’t have to be complicated or expensive. Even small gestures, like donating a percentage of your profits or offering matching donations to employee contributions, can make a significant difference.

By embracing philanthropy, businesses here in Rockland become powerful agents of positive change, contributing to a more sustainable, equitable, and vibrant world – all while building a more successful and fulfilling business.

While this is the season of giving, every day is the right day to do good and to set an example for your employees, clients, and the community at large.

Paul Adler is Chief Strategy Officer of Rand Commercial.