CSBJ Daily

Corporate philanthropy attracts top talent and retains top employees – but only if it’s viewed as a way to compete, not as merely an obligation.

That was the advice from 40 top U.S. executives at Corporate Philanthropy Day, a peer-to-peer conference sponsored by the Committee Encouraging Corporate Philanthropy.

“Prospective employees are highly influenced by corporate culture, and philanthropy is an integral component of a desirable work environment,” said the report of the summit held in March.

The summit also revealed that philanthropic efforts that are only perceived as “recognition-seeking” can backfire, but creating programs that work with a corporation’s culture can create better communications within the company – and within the public view.

Other information from the conference:

• If a company is international, their philanthropy should be as well.
• Companies should incorporate their business management techniques to the practice of corporate philanthropy to allow the programs to be successful and withstand public scrutiny.
• 100 percent of CEOs believe that corporate philanthropy is important to creating long-term shareholder value and 94 percent say their board of directors would agree.

The full report can be viewed at http://www.corporatephilanthropy.org/research/pubs/CECPBoardofBoards2008.pdf.