CEOs Encourage Corporate Philanthropy
22 March 2007 at 10:49 am
A group of CEOs from Fortune 500 companies found that the most successful corporate giving programs are inspired by employees and CEOs alike and are relevant to the core values and business objectives of the company.
The consensus was that in order for employees to engage, a commitment to corporate philanthropy must be part of a company’s culture. The business case for philanthropy is strong, as CEOs are seeing ‘giving’ as more strategic and advocate that it must be more transparent.
As part of the annual meeting in the US, CEOs representing companies such as Citigroup, Deloitte, GlaxoSmithKline, Hasbro, The Interpublic Group of Companies, JP Morgan Chase & Co., McGraw-Hill, Prudential Financial and Wachovia shared best practices and outlined philanthropic priorities.
As the only meeting of its kind, gathering CEOs to focus on the business case for corporate philanthropy, this group also agreed that in order to expand programs globally, a priority must be placed on engaging employees locally.
They believe that there is a real opportunity to change the perceptions of the U.S. on the global stage as companies embark on more ambitious philanthropic efforts to geographies in need.
Prudential Chairman and CEO Art Ryan says philanthropic outreach should be an integral part of the corporate culture and value system. In addition, corporations should put programs in place that encourage and support employee volunteerism.
Ryan says giving back to the communities where they live and work helps ensure that they stay connected with the people who are at the heart of a corporation’s mission.
Marc Benioff, CEO of salesforce.com says employee empowerment is critical. Companies that rally employees around programs that make a difference in the world are going to secure more loyalty and value from them.
At the same time, the most recent matched set findings the Committee Encouraging Corporate Philanthropy (CECP) report demonstrates that giving has increased by 15 percent, clearly showing that philanthropy is a priority for business leaders.
Charles Moore, CECP Executive Director the gathering is a means to discuss best practices for executive leadership in making the most impact on society and their businesses through effective philanthropy programs.
He says by analysing market forces, pinpointing business/philanthropic opportunities, and building sustainable programs, companies can use their core competencies and, more importantly, work together to support society while growing the bottom line.
Founding co-chairs Paul Newman and Ken Derr established CECP in 1999 and membership now includes more than 145 CEOs and Chairpersons, comprising a powerful network of senior executives committed to corporate philanthropy.
Members’ companies are responsible for more than 40 percent of charitable corporate giving in the U.S.
The Committee Encouraging Corporate Philanthropy (CECP) is the only international forum of business CEOs and Chairpersons pursuing a mission exclusively focused on corporate philanthropy.