Businesses exist for the main purpose of making money. People, however, are on this earth for a higher purpose. What if we were to combine the two? What if businesses could use their resources and influence to make a positive impact on the world while still turning a profit?
Corporate social responsibility (CSR) and strategic philanthropy offer a way to do just that. This article will discuss why and how organizations embrace their role as change agents and use their unique assets to drive social progress.
Why Corporate Social Responsibility Matters
What’s the point of corporate social responsibility? It seems like a silly question, but most business-minded people consider it before putting their time and money into corporate giving. There are multiple strong arguments to be made for altruistically driven and extrinsic cases alike. Where regular investments have tangible returns, charitable ones create value for both the company and the cause at hand. From a business perspective, corporate social responsibility can enhance brand image, attract top talent, and improve customer loyalty. Employees increasingly want to work for companies that share their values and make a positive impact. Customers are similarly more likely to support brands that are committed to important causes. Meanwhile, corporate social responsibility is among the most far-reaching types of philanthropy. Large businesses have the power to make a meaningful impact on a variety of causes through compassionate giving (bitachon). Common donation recipients include:- Charities for orphans
- Groups for widows
- Non-profit healthcare projects
- Initiatives against hunger
- Organizations that help the poor
- Children’s education programs
A Culture of Jewish Philanthropy
Engagement in Jewish philanthropy holds much more meaning than simply organizing an annual holiday charity drive. Our faith encourages us to notice the good and promote peace at home (mitzvah of shalom bayit) and in community synagogues every day of the Jewish calendar year. Communal responsibility is what gives the global diaspora its characteristic resilience. All Israelis support one another, or ‘Kol Yisrael arevim zeh bazeh,’ because our history shows we’re stronger together. Many charity traditions and beautiful religious rituals (hiddur mitzvah) facilitate mutual responsibility (arvut hadadit). For example, donating a tenth of one’s income (ma’aser kesafim) is a common practice among Jews. So is leaving food for the poor (pe’ah), giving money for food (maos chitim) on holidays, protecting the poor, hosting guests (hachnasat orchim), and visiting the sick (bikur cholim). These acts of charity create psychological benefits for givers while fostering life-long change for recipients.Mitzvot and the Value of Corporate Giving
Some good deeds (mitzvot) make the most sense to perform on an individual level. However, there are just as many positive actions organizations can take as a whole. Their greater access to resources and influence exponentially scales the impact of positive change. For example, employee volunteer and donation matching programs are equivalent to hundreds of people deciding to sign up to volunteer or give on their own. Some organizations create art fundraisers or auctions to support charitable causes while promoting local artists. Modern giving tools even allow outreach to expand across office locations around the world.How Businesses Can Engage in Impactful Jewish Philanthropy
Repairing the world is big enough of a job for there to be many ways to approach it. Jewish law – along with the notable rebbes, Chabad leaders, and famous religious philanthropists who have dedicated their lives to this mission – recognizes work and service (avodah) in several forms. The Eight Degrees of Giving establish tiers in order of impact. While all empathy and compassion (kiddush hashem) matters, acts of loving-kindness make the biggest difference when they enable self-sustenance. Systemic change is the most powerful way we can save souls (pikuach nefesh) both today and tomorrow. To that end, businesses are particularly well-positioned to leverage their unique resources and expertise to exhibit meaningful compassion and drive systemic change. This could involve:- Providing pro bono services or in-kind donations that align with the core business
- Advocating for policies and regulations that support humility (anavah) and justice (tzedek) for all
- Empowering employees to volunteer their skills and expertise to support worthy causes
- Launching fundraising campaigns during times of crisis
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