The onus of philanthropy has shifted from a handful of wealthy, well-known individuals to entire corporations, many of which have net worths exceeding the richest people on the planet.

Corporate philanthropy is a fast and efficient way to accumulate vast amounts of capital from small-dollar donations, which can be given to a particular cause or charitable organization. Here are three other benefits of participating in corporate philanthropy.

1. Improvement in Company Morale

While corporate philanthropy aims to generate positive social or environmental change through sales, the positive effects on company workers are often overlooked. Employees who work for businesses with philanthropic tendencies may feel that their career is making a difference in the world, not just within the corporation itself. Corporate philanthropy may incentivize workers to stay longer and decrease employee turnover.

Additionally, people who engage in charity work, like David Johnson Cane Bay Partners co-founder, often experience a sense …