In today’s world, consumers want more from the businesses they deal with. Beyond quality products and excellence in customer care, consumers seek socially responsible brands to deal with, and this goes for B2B as well as B2C relationships. We are living in a world where an ever-increasing number of people are becoming more and more aware of social ills on a global level. We expect more from those with money to affect change, to improve the conditions in which we live. If you are an entrepreneur, a company director or a CEO, you need to understand just how important philanthropy is for your business.

Philanthropy in View of Social Responsibility

Whether it is sustainability, world hunger or helping to heal war-torn nations, we expect our corporations to help bring about social change to make this a better world in which to live. In fact, a recent survey taken by Robert Half Management Resources found that 80% of Chief Financial Officers who responded said that social responsibility is very important for their respective firms.

They stated that some of the benefits of philanthropy when serving their communities included:

• Improved morale within the company
• Better relations with the community as a whole
• Brand and reputation building or repairing
• Brand awareness
• Networking

Taken as a whole, these benefits should convince you that your entire operation could benefit from philanthropic pursuits.

A Look at One Billionaire’s Story

Before getting into some of the findings of the abovementioned survey, let’s take a brief look at Najib Mikati, a self-made billionaire who started out in the early 1980s with his brother selling satellite phones in war-impoverished Lebanon, before expanding throughout the Middle East and Africa. He went on to become the Prime Minister of his country and now serves as a politician representing Tripoli in Lebanon’s government. He is renowned for his philanthropic works throughout Lebanon, and especially in terms of promoting higher learning to help his country rise above their current plight. He is a self-made billionaire and politician who rose in stature due to his emphasis on social responsibility.

The Numbers Don’t Lie

Now, onto those numbers! According to the Robert Half Management Resources survey of December 2017, the findings were as follows:

• 71% of respondents said that social responsibility/philanthropy was important
• 68% said that social responsibility expanded opportunities for networking
• 68% found that philanthropy and social accountability improved reputations
• 61% stated that social responsibility promoted brand awareness
• 60% realized enhanced recruitment and retention

These are just some of the findings, but enough to show that social responsibility and philanthropic pursuits are felt to be cornerstones of today’s corporations. Look at Najib Mikati, for example, to see how his philanthropy propelled him to the top in his market.

What You Can Do to Make a Difference

It doesn’t matter how much you are able to do with the resources you have but rather that you do something that is important to you and your company’s culture or mission statement. Choose something that is important to you and it will be easier to pursue. Whether it’s helping build a homeless shelter in your community or giving financial aid to war-torn nations, you can do something. Just remember to keep it real. Consumers will know if you are just there for the show, so find a philanthropic pursuit that is important to you and your efforts will not go unnoticed.