Corporate philanthropy is key to advancing gender equality

What is women-focused corporate philanthropy?

Women-focused corporate philanthropy sees a wide range of impactful actions taken by companies to help promote women's welfare and equality, as delivered by charitable organizations.

Corporate philanthropy can include direct monetary donations, in-kind contributions, volunteer efforts, and partnerships with non-profit organizations.
 

Why is corporate philanthropy important?

Assistance and resources gained from companies can help drive important services and support for women, thus forging positive community impact for women.

Corporate philanthropy can significantly improve the well-being of women by funding social programs, educational initiatives, healthcare, and many further critical services.

Reputation and brand image can be enhanced and positively aligned when companies engage in philanthropy, and this can also help engage customer bases who also value women-focused corporate social responsibility.

Employee engagement and retention can also be assisted through corporate philanthropy. Employees often feel more satisfied and motivated working for companies that give back to the community, leading to higher engagement and retention rates.

Business relationships can be forged through positive corporate citizenship due to it strengthening relationships with customers, partners, and stakeholders who prioritize ethical business practices.

Innovation and problem-solving can also be supported via philanthropic efforts that foster innovation by addressing women-focused societal challenges, and this can sometimes lead to new markets and business opportunities.

Regulatory and legal benefits can also be realized because engaging in philanthropic activities can help align with government incentives and compliance requirements, potentially offering tax benefits and further legal advantages to companies.
 

How does corporate philanthropy work?

Thre are many ways companies can support women-focused charitable organizations.

Direct donations can be made via either monetary donations or in-kind donations. Monetary donations are when companies donate funds directly to non-profits, educational institutions, and other charitable organizations. In-kind donations take te form of contributions of goods or services, such as donating products, equipment, or professional expertise.

Employee volunteer programs are also key. Many employers offer Volunteer Time Off (VTO) programs where employees are given paid time off to volunteer at non-profits or for community projects.

Company-sponsored volunteering sees organized groups volunteering through various events or ongoing partnerships with local charities.

Matching gift programs are activated via donation matching, or by fundraising matches. Donation matching sees companies match their employees' charitable contributions, doubling the impact of individual donations. Wheras fundraising matches see companies matching funds raised by employees during specific fundraising events.

Corporate foundations are also key. Many companies have established Foundations that exist to manage and distribute philanthropic funds strategically to specific groups and causes. 

Grant programs are often provided by Foundations, providing critical funds to non-profits working on specific issues.

Many companies also participate in cause-related marketing through partnering with non-profits to run marketing campaigns where a portion of sales from specific products or services is donated to a cause.

Companies also often engage in awareness-raising initiatives through leveraging their marketing platforms to help raise awareness about women-focused social issues and encourage customer participation in charitable activities.

Sponsorship and partnerships are also a further key way to support women-focused charitable organizations. Event sponsorship, for example, sees key funding and support for a wide range of women-focused community events, charity runs, and non-profit initiatives.

Strategic partnerships are also valuable. Long-term collaborations with non-profits to address broader women-focused issues are always sought, often involving joint initiatives and resource sharing.
 

How can companies support women?

Identify a specific and relevant women-focused area requiring support. Companies often align their women-focused philanthropic efforts with their business values, expertise, or areas where they can make the most significant impact.

Engage key stakeholders such as employees, customers, and community members in the decision-making process to ensure the selected women-focused initiatives are relevant and effective.

Measuring impact of women-focused philanthropic efforts is key. Establishing set metrics and benchmarks to assess the effectiveness of the company's women-focused philanthropic activities and their impact on the community and business is mandatory.

Communicating about the company's women-focused philanthropic efforts is also important. Transparently sharing latest news and updates regarding the company's philanthropic activities and outcomes with stakeholders through reports, social media, and other communication channels is also of benefit.

Corporate philanthropy, when executed thoughtfully, can create a very positive cycle of goodwill, community improvement, and business success, benefiting not only women and their advancement, but also both society and the company itself.

Looking for support in selecting a women-focused charitable organization for your philanthropic funding? Search the IWD GIVING Directory.