Being a leading company in today's market, they don't stop there. They might go on to decide that in addition to foundation grants to Race for the Cure, the company will match employee contributions up to a certain dollar amount. This might also be supplemented by paid time off for employees to volunteer on race day. On top of this, you might find that Human Resources is leveraging the event to develop the communications and teamwork skills of the participating employees.

These tactics may be aimed at engaging employees on an emotional level in mutual support of a worthy goal, creating a halo effect that enhances morale and support for the company, thus increasing productivity and retention. It also spills over into recruitment, since roughly eight out of every ten recruits is looking for socially engaged companies. Finally, with the skill development dimension added in, you see that volunteering is also leveraged to improve employee job performance.

Whether it is skill development, employee morale and engagement, employee recruitment and retention, market share, or public goodwill, the purpose of corporate giving is a far cry from what it was in 1953. And, as Strategic Corporate Community Involvement gets older, stronger and even more sophisticated, the charming but woefully inefficient Corporate Charity will fade away and die – killed by a younger, more vibrant, and more effective younger brother.