Texas-based energy company Stream Energy recently made headlines for their involvement with Hurricane Harvey relief efforts. The storm left many without homes and damaged various businesses, while most watched from afar, Stream Energy was ready and willing to get to work in order to bring basic necessities to the communities. The efforts made by Stream Energy to help those affected were considered a textbook example of how a corporation does philanthropy. Through their foundation “Stream Cares” and in conjunction with other organizations such as The American Red Cross and Habitat for Humanity, Stream Energy volunteers were amongst the first to provide aid and shelter to citizens.
The donations and volunteering although excellent for the community do also provide a few perks for Stream as well. The fact is that corporate philanthropy in any form provides those companies with the ability to increase their name brand. This name brand also provides a buffer zone when things don’t go exactly how a company wants or they are facing an internal scandal. Recently, many high-profile executives have sought out to emulate Stream Energy’s philanthropic model, however, Stream still has a leg up on all of them in one area of the field, their customer relationships.
When employees are brought aboard, Stream expects them to make sales through the art of networking with neighbors, friends of friends and the list goes on. This model has been seen to be very successful as not only are customers placed in a more confident and transparent transaction but employees feel a stronger sense of responsibility for their clients. This, of course, leads many employees to volunteer within their community or simply drop by a customer’s home and see how they are doing, all this combined continues to increase the brand value and loyalty of the Stream company.