Thomas Kane, Chicago Executive Discusses the Path to Meaningful Work
Thomas
Kane is a Private Wealth
Manager and Managing Director at Merrill Lynch Private Wealth Management in
Chicago where he advises
ultra high net-worth clients. Outside of his career responsibilities, Thomas is
regarded in the community for his philanthropic efforts both in Chicago and
abroad. We recently spoke with Thomas to
gain his insight on how entrepreneurs can become more involved with charity.
What social causes
are you most passionate about?
Thomas Kane: I am the President of Friends of the IDF Central Region and it is the cause I
am most passionate about.
The organization focuses on “looking out for those who protect us” in
the Middle East. Specifically, we
provide financial support for former combat/front line soldiers in need. I am also involved in the Jewish Federation
of Chicago as a significant financial supporter and also the Co-leader of a
mission called “Rosh Gadol” where we focus on bringing philanthropic minded
young business leaders from Chicago to Israel every few years to spend time
with local leaders.
Many entrepreneurs are
successful at managing their business finances and want to find ways to pay it
forward. How important is it for
entrepreneurs to commit some time and effort on giving back to social causes?
Thomas Kane: I think modern entrepreneurs want to leave a
legacy and they realize that after the numbers are crunched and their business
is off the ground and becomes successful, they still crave more. Millennial entrepreneurs want to be hands-on
and involved. Besides the obvious
reasons that giving back has on a community, they see charitable giving as a
way to build their reputation.
Supporting social causes is an investment in the company’s future.
Should more nonprofits be
courting entrepreneurs as donors?
Thomas Kane: I think so. Entrepreneurs’ approach to philanthropy
reflects the hands-on approach they have used in building their businesses;
they place more emphasis on being personally involved in giving, deciding how
funds are distributed, and the ability to demonstrate leadership through their
volunteering. They also show far more
interest than the traditional employee in donating professional services,
helping with fundraising, and serving on a committee or board.
How can companies include
philanthropy in their culture?
Thomas Kane: First, they should find a cause that employees
care about. Choosing one focus for an entire corporation to champion can be
demotivating. Instead, give your people
time off to
volunteer or serve a nonprofit of their choice during working hours.
Giving them the freedom to choose
increases their engagement level and loyalty to the company.
While a lot of companies believe in doing team-building activities, many
miss the opportunity to include a philanthropic component. Activities that have
a service element will achieve higher goals than going away on a weekend
retreat. Activities could include
everything from serving the homeless a hot meal to volunteering at the local
animal shelter to organizing a company sponsored sporting event.
The post Thomas Kane, Chicago Executive Discusses the Path to Meaningful Work appeared first on Entrepreneurship Life.
