Charity and the financial industry: a winning combination?
When you think about charity and helping others the finance industry is not necessarily the first thing that come to your mind. Indeed, in our industry the main objective can be summarised in one word: profit. Nonetheless, many financial institutions have been involved in charity events over the years. The main reasons being that they wanted to gain a good image in the public eyes. Banks especially have not been shy in the matter. Charity can be great for a company not matter its size. For big banks and large financial institutions. The main benefit to be involved with charity for financial institutions is related to their public image. According to the Chronicle of Philanthropy’s 2016 report on corporate giving, which examined 17 years of data on the philanthropic contributions of the country’s largest public companies, financial services and drug companies are the biggest givers of cash donations. When Fortune did a deeper dive on the same data set to identify the most generous companies in the Fortune 500, seven of the top 20 were in the financial services industry.
For smaller firms like Anh Thomas Investment, public image is far less a smaller concern. However, small firms can also benefit from charity and this for three main reasons. The first one is that charity can greatly improves team spirit. Having a team of skilled and talented people is a necessity for a small company that wants to develop or even just survive but it is not enough. Developing and promoting a strong team spirit inside the company can make a whole difference. The second one is that charity allow employees to feel good about themselves as individuals by helping others. There is no better thing for a company than having happy employees. Finally, feeling that you work for a good company that is not 100% focused on profits and still have human and moral values is something that should be cherished.