In today’s modern world, consumers tend to frequent businesses that give back and practice sustainability. In addition, millennials are drawn to working for companies that use their profits to do good in their local communities and around the globe. Philanthropy is a must for any company looking to be competitive and successful these days, so below are some ideas that will help you translate this into your own business.

1. Give Useful Promotional Gifts

Everyone loves getting free stuff, so it only makes sense that this tactic should be your way of giving back to people in your community. This gift can be as easy as a good quality pen with your company name printed on it or a coffee cup featuring your logo. Like useful promotional gifts serves two purposes:

1. They show that you’re a corporation that cares and provides back to its community;
2. They bring in customers because people are more likely to buy from businesses that give away free stuff.

While it may seem counterproductive to spend money on promotional giveaways, the return on your investment is well worth the cost.

2. Donating Goods and Services

If your service or product can be donated, it is best to do so as often as possible. For example, if you are an app developer, you could offer to build a free app for a nonprofit. Or, if you’re one marketing company, you can volunteer to help nonprofits with their marketing campaigns. Another option is to get a group of employees together and volunteer on the job. There are many ways to give back to the community around you just by using resources in your business.

3. Developing Partnerships with Local Charities

Partnering with a local charity is a fantastic way to give back and include your employees in your philanthropic goals. For example, if you own a pet shop, you can partner with your local animal rescue to help with the care and placement of animals that pass there.

You and your employees can volunteer to help clean kennels and walk the dogs, and you can make donations of food, money, and other items the shelter needs to take care of the animals.

4. Give Volunteer Employees Time Off

Your business does not must give up the time or money itself to be part of a philanthropic endeavour. You can encourage your employees to give back to their communities by allowing them to voluntary rest (VTO) without penalty. Allowing furloughed employees to devote their energies to worthy causes not only provides them with job satisfaction, but also attracts motivated and energetic employees who respect a corporation that cares about its people and their passions.

5. Donate a Percentage of Your Profits Every Year

Many businesses become corporate donors to charities they love. Pick a charity or two to donate 10% of your annual net profit to and create a special event within your company so your employees can be happy with what they’ve helped to attain.

If you cannot commit to a long-term donation, make as many one-time donations as you can afford.

Philanthropy is a must in the modern business world. Regardless of your industry, it is vital to find ways to give back to the community around you. Doing so won’t only help you compete and succeed, but will also ensure employee job satisfaction and attract new employees who appreciate your generous workplace culture.