22 Popular and Trending Corporate Giving Strategies for the Modern Business
Corporate giving strategies help modern businesses align with corporate social responsibility and ESG commitments. They also aid businesses in aligning their values with those of their employees.
A good corporate giving strategy will not only lead to a positive impact on social and environmental issues, but also results in increased brand recognition and reputation, as well as improved employee morale and engagement.
With the most recent business trends, employees and customers are avoiding corporations who ignore their societal impact and shifting towards doing business with purpose-driven companies.
An effective corporate giving strategy serves as the bridge between a company and the people they serve.
There are many different corporate giving strategies that companies can adopt. Here are a 22 examples of a corporate giving strategy that’s worked in the past:
22 Corporate Giving Strategies for Purpose-Driven Companies
Philanthropic Giving
In-kind donations: Companies may donate products or services, rather than money, to nonprofit organizations.
Corporate foundations: Many companies have their own foundations, which are separate nonprofit organizations that are funded by the company and can more flexibly engage in philanthropic work beyond what might be possible by the company itself.
Sponsorships: Companies may sponsor events, programs, or projects run by nonprofit organizations.
Direct donations: Companies may make direct financial donations to nonprofit organizations.
Social impact bonds: In this type of program, a company partners with a nonprofit organization to fund a specific project or program. The company provides the funding upfront, and the nonprofit repays the funds with interest if the project is successful.
Corporate Grants: Some companies make grants – through a Foundation, Donor Advised Fund, or other philanthropy-focused budgets – to nonprofit organizations that align with their philanthropic goals.
Impact investing: Companies may make investments in organizations or projects (often known as social enterprises) that are expected to generate financial return alongside social or environmental impact.
Volunteerism
Employee volunteer programs: Some companies have programs in place to encourage employees to volunteer their time to support nonprofit organizations.
Volunteer time off: Some companies allow employees to take paid time off to volunteer at a nonprofit organization of their choice.
Pro-bono services: Companies may offer pro bono services, such as legal or consulting services, to nonprofit organizations.
Sponsorship of educational programs: Companies may sponsor educational programs, such as scholarships or mentorship programs, run by nonprofit organizations – especially when there is an alignment with the company’s sector.
Diverse, Equitable and Inclusive
Corporate social responsibility (CSR) initiatives: Many companies have CSR initiatives in place to address social and environmental issues. These initiatives may include a variety of giving strategies, such as direct donations, sponsorships, and employee volunteer programs.
Diverse and inclusive giving programs: Instead of restricting grants or donation to specific issues or cause areas, some companies have programs in place to support a wide range of causes and nonprofit organizations.
Employee donation-matching programs: In this type of program, the company matches donations made by employees to eligible nonprofit organizations.
Learn more about employee giving programs
Social enterprise: Some companies may operate social enterprises, which are businesses that are established to achieve a social or environmental mission, with profits being reinvested in the mission.
Employee gifting: Alongside a traditional donation-match program, many companies are implementing programs where employees are gifted funds to donate to the charity of their choice.
Corporate philanthropy consulting: Companies may work with philanthropy consultants to help them identify and prioritize giving opportunities.
Programs
Employee giving campaigns: Companies may run campaigns to encourage employees to donate to a specific cause or nonprofit organization, or in the wake of an important event such as a natural disaster.
Employee charitable giving committees: Some companies have committees made up of employees that help to identify charitable giving opportunities and make recommendations to management.
Community partnerships: Companies may form long-term partnerships with nonprofit organizations and other community groups to address specific needs in the local community.
Cause-related marketing: This involves partnering with a nonprofit organization to promote a product or service, with a portion of the proceeds going to the nonprofit.
Crowdfunding campaigns: Companies may use crowdfunding platforms to raise money for a specific cause or nonprofit organization.
These are examples of corporate giving strategies. Companies may adopt one or a combination of these strategies depending on their goals and resources.
Groundswell is an affordable workplace giving platform built for the modern business. We give organizations the infrastructure and tools to make it easy to empower employees to support the causes they care about during moments that matter most.
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