The holiday season is here and many business professionals turn their thoughts to charitable giving. Alex Perdikis, general manager and partner at Koons Automotive, knows all too well the benefits and rewards of giving back. Famous tech company founders, including Bill Gates and Mark Zuckerberg, have spent millions on various causes around the world. It may sound strange, but the benefits businesses enjoy by donating time and money to improve the lives of others goes beyond monetary gain.
The Rewards of Charitable Giving
If the tax breaks are the first things that come to mind when you think about the business benefits of charitable giving, think again. It’s true that there are tax breaks for some contributions if all of the rules, regulations and stipulations are followed to the letter. Ask Alex Perdikis, however, and you’ll discover that tax benefits are way down on the list of positives. Here are the top reasons that charitable giving is great for business:
- Employee Pride: Keeping your staff motivated and engaged goes beyond job duties. Giving employees a sense of pride in the organization for which they work creates feelings of loyalty and well-being. When employees feel good about their organization, they are dedicated to its success. Turnover and absentee rates fall and work production increases.
- Employee Morale: When employees see that their company moves beyond its corporate world into a role that feeds the hungry or houses the homeless, morale rises. People feel good about their work and show it with increased productivity, less sick time and a commitment to the company’s success.
- Team Building: There is nothing quite as inspiring as a group working together toward a common goal. When company founders and top-level executives work alongside the rest of the staff, a feeling of camaraderie develops that’s not possible within the structures of the workday. The feel-good atmosphere spills over into the corporate culture to build stronger teams that work well together.
How to Give
As the holiday season approaches, there are many opportunities to give back to the community. Collecting food donations for the local food bank, participating in a Secret Santa program and collecting coats for the homeless are all great ways for companies to help those in need. But to truly build a culture of giving, charitable giving has to happen year-round.
Supporting a charitable organization or initiative throughout the year keeps the momentum going. Choosing the right cause is important. Is there a cause to support relevant to your organization? Has someone inside the company fought breast cancer? Working with a cancer research organization might be the answer. Does your company make pet-related products? Consider an employee volunteer Saturday once a month to clean kennels at the local animal shelter. Is there an educational need that is not being addressed in your company’s field? Tech company giant Intel supports nonprofit organizations that focus on teaching and supporting the software developers of tomorrow. The opportunities as well as the benefits are limitless.