Mention the phrase “corporate social responsibility”, and The Economical Insurance Group (TEIG) immediately comes to mind. This is one organization that truly understands the business value behind engaging employees and other stakeholders in supporting community needs. As I mentioned in an earlier blog, what’s good for the community is also good for business.
As with any other business initiative, developing a well-planned strategy is critical for success. TEIG began work on a philanthropic strategy in 2010, with an eye to supporting and positively impacting both the current and future social concerns of its stakeholders. The plan includes activities and initiatives that align with company values, support organizational objectives, and have the potential to create new business opportunities.
Over time, TEIG’s Philanthropic Strategy will evolve into the following components: corporate and community giving, a signature charity, learning and scholarships, and an employee volunteer program.
In particular, I’m thrilled that United Way is a leading contender to become TEIG’s signature charity and I’m excited at the prospect of an employee volunteer program that lets staff take time off for volunteer work and team volunteer projects. One need look no further than the many United Way awards TEIG has won over the years to realize just how strong and successful the relationship has been between our two organizations.
TEIG’s Philanthropy Strategy isn’t yet finalized, but I love the direction it’s heading in and hope it becomes a standard other businesses strive to achieve.
Jan
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