Corporate philanthropy refers to contributions of a charitable nature made by corporations with the hope that it will bring economic, social and environmental benefits to stakeholders. The benefits of charitable donations are evident, though not significant.
Millions of Africans live in poverty, with many working informally and struggling to make a decent salary to survive. According to the Mastercard Foundation, decent work leads to poverty reduction. “Decent work” is defined by the International Labour Organisation (ILO) as work that provides equal opportunities for all, pays a fair wage, delivers job security and provides a stable income to families. It should also give people the right to express their concerns and be able to engage and participate in matters that affect their lives in one way or another.
Africa has the youngest and fastest growing population. By 2030, the number of young people in the labour market will grow to 375 million. The challenges of finding formal employment must be confronted, to forge a pathway out of poverty for millions of Africans.
Impact sourcing provides opportunities for corporations interested in using market-based forces to create a new ecosystem that delivers shared value and is self-sustaining. It is an alternative channel for sourcing talent that creates long-term employment opportunities to people who otherwise have limited prospects for formal employment.
The Benefits to the Workers
- The Rockefeller Foundation suggests that impact workers benefit from income increases between 40% and 200%.
- The potential to alleviate poverty for millions of people in a sustainable way.
- With technology rapidly changing the future of work, individuals are able to attain transferable work skills.
- Improvement the well-being of individuals, their families and the community as a whole.
The Benefits to your Business
- Improved efficiency and organisational performance.
- A large, stable and engaged pool of workers.
- Access to reduced overhead costs.
- With social impact woven into your company’s DNA, you benefit from improved brand image and reputation.
Impact sourcing creates an efficient path for social responsibility, while generating economic benefits for your business. This win-win strategy mobilises complementary partners for collaborative relationships that create long-term socio-economic value.
Tasks that you can outsource to Skilled Staff
Companies can outsource the following non-core and routine tasks:
- Data Processing
- Online Customer Service
- Online Marketing
- Social Media Management
- Administrative Support