NEWS
The role of business in charity support:
building back better Professor Sir Tim Wilson DL, Chair of the Lieutenancy’s business panel and Emeritus Professor at the University of Hertfordshire, explains the importance of charitable giving in the corporate sector. As we emerge from the darkness of COVID, we recognise the huge pressures that have been exerted on businesses. We also recognise the truly impressive impact that many businesses have had upon their local communities through their social interventions: food banks, emergency transport, PPE supplies, equipment donations, answering special pleas from those in greatest need. The response of many businesses has been remarkable and without recognition or tangible return; companies that have “done the right thing” and responded to the needs of their communities. But where do we go from here? Do we return to pre-pandemic practices or, to coin an oft-used phrase by government, do we “build back better” and extend that critical link between the needs of our local communities and our Hertfordshire businesses?
How do we establish sustainable links between charities working “at the sharp end” and businesses that want to make a difference? What’s the benefit to the business, where’s the motivation? Business motivation comes in many forms – directors’ interests through personal experience, improving staff morale through unifying campaigns, investor interest, marketing exposure through charity association, or perhaps just social conscience – doing the right thing. But how does a business become involved in charitable work? For some businesses, a corporate charity is the right solution; a dedicated charity with its own infrastructure, distributing funds systematically in pursuit of its objectives. It’s a significant investment; it’s not for everyone. For others, working with an independent charitable trust and establishing a named fund within
Business motivation comes in many forms – directors’ interests through personal experience, improving staff morale through unifying campaigns, investor interest, marketing exposure through charity association, or perhaps just social conscience – doing the right thing. 38
INSPIRE
that trust is the right way forward. For example, Hertfordshire Community Foundation manages more than 100 endowment funds, delivering the objectives of each fund. Many companies chose a “charity of choice” to support. Often this is a local charity well known to employees, raising funds through team-building sponsored challenges, sometimes introducing an optional payroll giving scheme, sometimes engaging with customers using a discretionary “round-up bills” approach to fundraising. There’s a plethora of options for companies looking to support a charity of choice. Does support have to be financial? Not always. In-kind donations are often a good way forward, especially for those charities which rely upon expert volunteers. Mentoring, specialist advice and trusteeships are examples of in-kind donations, as are charity shop donations and gifting goods for food banks. This paints an attractive landscape of opportunities for a business looking to play an enhanced role in its community through charitable activity. However, caveats need to be recognised. Charities exist and work for their beneficiaries but they share the imperative of business efficiency and effectiveness. A business that expects exceptional recognition or marketing exposure in return for its donation may be disappointed. The primary payback to a corporate charitable contribution is the sense of supporting its community; doing the right thing. The COVID months have seen exceptional interventions by Hertfordshire businesses supporting local charities. It’s time to build on that momentum and build back better.
