Businesses That Give Back Enjoy A Competitive Advantage


Businesses That Give Back Enjoy A Competitive Advantage

Our brains are hardwired to serve. Here is why businesses and their employees benefit from embracing meaningful causes.

CREDIT: Getty Images

At a recent celebration for Harvard Business School’s Class Day, speaker Michael R. Bloomberg, extolled the value of graduates aligning themselves with companies that were deeply committed to philanthropic efforts, stating that at Bloomberg, "…philanthropy gives us a competitive advantage in recruiting and retaining talent — and it’s as good for the bottom line as anything a company can do."

Literally translated, the word philanthropy means "love of humanity." By very definition, philanthropy is only philanthropy when it stems from giving without personal gain. It begins and ends with a selfless motive — that of helping one’s fellow man without seeking recognition or reward.

Most of us know that charity is its own reward. The true wealth of charity is measured by good deeds, not ego and material gain. That’s why many affirm that they get back far more than they give. In other words, what they receive is the joy of love in action, the manifestation of their gift of time or money in such a way as to make a visible difference.

Interestingly, good people doing good work experience benefits that go beyond just their contentment in the knowledge that they are advancing the well-being of humanity. A well-known study examined the brain activity of a group of people, each of whom was given money ($128) and asked to make choices about whether to keep the money for themselves or to give some or all of it to charity anonymously. The outcome was fascinating. The participants who gave the money to charity experienced an extremely high level of pleasure. The researchers concluded that, "The warm glow that many donors get from giving to charity involves the same brain mechanisms that evoke pleasurable sensations after sex, eating good food, and using heroin or other drugs."

Companies that embrace philanthropic efforts enjoy significant advantages that contribute to the mutual benefit of both management and employees on every level such as:

Loyalty and morale rise.

This occurs in direct correlation to the enhanced sense of personal engagement and connectedness of the employees since they are proud to be associated with a company that cares and does good for others.

Employees experience an increased sense of personal satisfaction.

The reward that goes with being part of a meaningful community effort is something bigger than themselves that makes a difference in the lives of others.

Team building.

This happens at a higher level since all employees are working side by side together towards a common goal.

A sense of accomplishment.

The collective group can work together to achieve something for the community while serving as a profound team-building event for the employees.

We’ve been taught since we were children that it is better to give than to receive. This Chinese proverb illustrates the intrinsic worth of charitable works:

"If you want happiness for an hour, take a nap. 
If you want happiness for a day, go fishing. 
If you want happiness for a year, inherit a fortune. 
If you want happiness for a lifetime, help somebody." 

Published on: May 31, 2019
The opinions expressed here by columnists are their own, not those of
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