Company-sponsored scholarships are a smart philanthropic move for any organization. Different than other charitable causes, scholarships directly affect the life of a student and offer multiple advantages to your company as well. Here are a few reasons why your company should develop a scholarship program.
Use Your Platform and Success to Pay it Forward
When thinking about your organization’s Corporate Social Responsibility (CSR) program, investing in education and youth is a targeted way to give back to your community. Your company can use their resources and platform to pay it forward to students struggling to support themselves financially.
VGW’s Nigel Blythe Tinker Scholarship specifically aims to help those who have overcome hardship in their lives and still achieved success. As their company focuses on mobile gaming, they want to hear about a student’s ‘wins’ and then further help them with a $10,000 scholarship for their education.
Invest in Tomorrow’s Leaders Within Your Space
What better way to encourage and support young students than provide financial support for their education? Today’s students will be tomorrow’s leaders, and your organization can play a pivotal role in their future success. Not too mention, with an industry-specific scholarship, you create a Rolodex of motivated and bright students that are studying within your vertical. When it comes to finding interns (or post-grad employees), you can tap into your scholarship network.
For example, USA Medical and Surgical Supplies hosts a scholarship for any students studying the medical field, with that, they are directly investing in future medical professionals. An even more niche example—Fish Finder Guides offers a scholarship where students must write an essay specifically about the fishing industry.
Create a Program Aligned With Your Corporate Values
Depending on your corporate values, your scholarship program can work to further your principles and ideals. Friends of the Great Lakes is an organization with a mission to preserve the ecosystem of the Great Salt Lakes. Their sponsored scholarship is geared toward students that are engaged in new or on-going research that focuses on the Great Salt Lake and its ecosystem. This focus encourages and rewards students aligned with the organization’s mission.
Another example is the Ted Rollins Eco Scholarship, this program is offered by an executive who’s personal, and business goals focus on sustainable building. The scholarship asks students to write about the advancement of sustainability and ‘ecopreneurism.’
Both of these scholarship programs target a specific mindset for applicants that aligns with their overall corporate values. Keep this in mind to promote your company’s values when sponsoring a scholarship.
Garner Positive P.R.
Developing and promoting a scholarship program shines the spotlight on your company in several ways. First, when you reach out to scholarship listing sites and universities, they’ll post your scholarship, which gives you valuable backlinks to your site. This is beneficial for search engine optimization and driving traffic to your site.
You can also promote the scholarship program on your social media and website to highlight the opportunity. When you award the scholarship, you can do a press release and profile on the winner. All of the P.R. will help to raise the profile of your organization and showcase your commitment to high education and the community.
Develop Your Company-Sponsored Scholarship
Whether you name your scholarship after your organization or chose an executive leader to spearhead the effort, a company-sponsored scholarship not only gives back to the community but offers multiple benefits to your company.