An Increase in Extreme Weather Disasters Underscores the Need for Emergency Financial Help
May 20, 2014
Why Hardship Relief Funds Are Important
June 24, 2014May 28, 2014
Corporate giving is common for nearly every type of company, from the small family business to the largest multinational companies. Every year, teams gather to allocate corporate giving dollars to causes that are important to the company and team members. Whether the charity is focused internationally, nationally, or only on high profile workplace donation campaigns, the activity can be a great way to get team members involved with their community.
With that in mind, most board members and CEOs would likely agree that the first priority in giving is within the team member community. A particular point of emphasis is allowing them to give to and help each other. On any given day, someone on the team may be dealing with the financial aftermath of a personal hardship or natural disaster. Suddenly, this person may be faced with balancing work responsibilities and the hardship of an unforeseen emergency. Aside from the obvious difficulties associated with these events, there can be a considerable cost to the company in terms of workplace productivity.
Usually team members in need are helped by generous, but informal, “pass the hat” campaigns in the workplace. However, a formal and dedicated company focus on personal emergencies in the team member community can be much more effective. With the right level of company support, team members will know that the company supports them in times of a disaster or personal hardship.
A company’s philanthropic giving plan to including a relief fund can go a long way towards making team members feel valued. Further, it will help meet the company’s civic responsibility of giving. Another bonus is that donations to the fund are tax-deductible, creating further incentive for charitable giving close to home. For these reasons, including team members in the larger context of corporate giving makes good business sense, and is a great way to exemplify good corporate citizenship.
