I’m sure you’ve seen the headline from the World Economic Forum in Davos, Switzerland: Eight men own the same wealth as 3.6 billion of world’s poorest people. According to the Oxfam International Report, this problem has, at its root, an irresponsible corporate focus on profits and shareholder returns.
However, there is a growing, somewhat overlooked, effort to mitigate this problem. Last year, U.S. corporations voluntarily allocated $18.45 billion dollars of corporate profit to charity, according to GivingUSA.org. This is social good with private money.
Corporate charitable support is increasing because of a growing movement of “conscious capitalism” among CEO’s, business leaders, and corporate shareholders to do exactly what Oxfam International and the WEF meeting are proposing that corporations must do: support and prioritize social impact.
Conscious capitalism contends that corporate profits and corporate social responsibility are not mutually exclusive. They are, in fact, linked and each positively affects the other; socially responsible companies are more profitable. This is an idea that can have a profound shift in the way the world works.
Here at GiveStream, we want to harness corporate giving to impact the smallest, local issues. Often overlooked charities that are run by dedicated individuals with small budgets and genuine personal care about the problems they are solving. Issues that personally affect employees in their day-to-day lives and which they care about deeply.
Collectively, this simple idea can have huge impact on both communities and employee satisfaction.
- Widespread support of small, local charities can create big improvements in local communities and local problems that, from the stratosphere of corporate America, can be invisible.
- Distributed control of a portion of corporate giving by individual employees can be a more visible, effective balm to the reputation of Corporate America.
- Allowing every employee the ability to direct a small portion of corporate giving dollars can give them an appreciation of their company’s overall focus on social good and help them love their company for its genuine care and impact.
Here at GiveStream, we’re proving these ideas of the power of employee directed corporate giving to be true. Join us and let’s make a difference, together.