The astonishing place of philanthropy in the business world

October 25 2022
The astonishing place of philanthropy in the business world.

Reinventing corporate philanthropy

At Followmybid, we believe that the future of philanthropy is hidden somewhere in this solution: one day, it will be primarily businesses that will contact NPOs directly to support them. We are already on the right track and can help you do it!

The surprising place of philanthropy in the business world

The exponential increase in competition, both in terms of recruitment and sales, characterizes today's business world. In this context, the strategic role of corporate philanthropy is becoming more widely acknowledged. To achieve a competitive edge, many businesses are deciding to adopt the role of good corporate citizenship and engage in philanthropy.

For their part, NPOs can take advantage of this upsurge to obtain more commitment from their partners. In addition, companies contribute to the efforts made by NPOs to carry out their primary mission.

For SMEs in search of CSR

CSR is defined as the commitment of companies to contribute to sustainable economic development and to take responsibility for their impacts on society. It is becoming increasingly important in the business world. And for a good reason! Corporate philanthropy offers several advantages, such as:

  • An impeccable reputation
  • An easier recruitment
  • A more solid team
  • A thriving corporate culture
  • A sense of pride for your employees

The benefits of corporate philanthropy

Philanthropy helps businesses compete in their industry in a variety of ways. For example, it can:

  • Increase brand awareness and differentiate them from its competitors
  • Make the company look good through the network of NPOs or causes supported
  • Improve employees' sense of belonging
  • Transforming the corporate identity to attract new candidates
  • And make the company known as a good corporate citizen in its local area

In short, companies involved in their communities are more appreciated, which often results in increased profits.

As a company, you know very well that by getting involved in your community, you cultivate a sense of pride among your employees and you mobilize your entire team toward a common cause.

So how do you get involved in the most effective way possible?

Entrusting the organization of a benefit auction to a company in search of better CSR

Did you know that an NPO can outsource the organization of a fundraising auction to a company seeking to improve CSR? This solution could address your fundraising challenges, recruitment issues, and limited resources.

NPOs are primarily responsible for self-financing their operations, often through fundraising and charitable events. They must respond to the pressure and expectations of their donors and other stakeholders. The resources and efforts associated with organizing such events are too often at the expense of the organizations' mission.

NPOs staff knows too well that administrative costs are both unavoidable and legitimate. Unfortunately, while they are necessary to support the charity's mission, they may discourage donors if they are too pricy.

Raising more funds through partnerships

With the Followmybid platform, it's very simple: create an auction and assign the role of "Auction manager" to a partner organization member. Thanks to your nonprofit account, the funds will be sent directly to you at the end of the auction.

Afterwards, the NPO will be able to thank its partner on its public platforms to offer them visibility and, who knows, maybe inspire other companies to do the same!

The importance of involving team members versus a simple monetary commitment

Fundraising auctions offer a much more engaging way to give back to your community and your employees. Matching donation programs, in which the company doubles the amount raised by its employees, are always popular, but why not include original fundraising activities as well? In this way, your corporate philanthropy takes on a double meaning: it meets your CSR needs and has a team-building aspect.

You have the choice of holding a public auction in which everyone can participate or an internal auction in which employees bid on the prizes offered to each other.

Invite your employees to donate prizes and add your own. They can be:

  • The best parking space at the office
  • A service provided by a team member
  • An item donated by a team member who no longer needs it
  • Products from your end of production lines
  • Artwork created by colleagues
  • Office furniture or computer equipment that you have replaced
  • Or even symbolic prizes (for example: sponsoring a student by covering the cost of lunches for their entire school year)

Your team will be happy to bid online on your items, and you can keep this event accessible to your entire team or even combine it with an in-person activity, such as a cocktail party or theme night. Hybrid events are a great way to get everyone involved, both those willing to come and those not so enthusiastic about the idea.

In the end, NPOs appreciate all donations, but planning fundraising events frequently yields much more meaningful outcomes for all parties involved, in addition to generating significant benefits for your company.

Entering the world of corporate social responsibility (CSR)

Corporate philanthropy is easier than you think! See how Followmybid helps companies stand out through charity and corporate culture of giving back.

Craving more of this?

Join the Philanclub to get just the right amount of love in your inbox. Expect exclusive news, information about our auctions, and one blog post per month. Sounds pretty awesome, right?

Sign up

A philanthropist in your soul?

Join a like-minded community! When registering, you'll receive:
  • Exclusive news about upcoming auctions,
  • All the information about the most popular items,
  • Tips & tricks related to the world of philanthropy,
  • Scoops about the platform.

All that personalized to your needs! Do you want in? We have questions for you!

The philanclub - Image