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“We make a living by what we get. We make a life by what we give.” ― Winston S. Churchill
Today’s employees understand the personal value in giving back. That value can positively impact how employees perform professionally too, which is why corporate philanthropy has become a serious topic of discussion in recent years and now more than ever.
Companies are recognizing that the benefits of employee giving programs, which extend from employee engagement to employer branding, are too significant to be ignored or passively planned. For companies that are being proactive about their philanthropic efforts, taking these trends into serious consideration could help set the path for highly successful employee giving programs.
Captivating Employees With Volunteerism
Volunteerism is perhaps the greatest way to engage employees in corporate philanthropy, and it’s also become a core element in employee engagement strategies and programs around the world. As a workforce with a strong desire to make an impact, today’s employees want to experience first-hand the kind of giving that helps nonprofits continue doing good for the world.
In fact, according to the 2015 Snapshot study conducted by America’s Charities, 71.43% of surveyed respondents named company-sponsored volunteer projects and projects that gave employees the chance to volunteer with their peers as the most common components of a company’s volunteer strategies.
What this means is that for companies that haven’t adopted these elements into their corporate volunteer strategies, or worse if there’s no presence of volunteerism in their philanthropy programs, they are behind the curve and missing out on precious engagement potential. For companies looking for ideas to incorporate volunteerism into their engagement strategy, here are some of the most successful types of programs:
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- Company-wide day of service
- Pro Bono Services
- Paid-Release Time
- Dollars for Doers
Challenging the Status Quo With Year-Round Giving
For many years, corporate giving seemed to come and go with the holiday season, but recent years have seen a significant increase in the frequency of corporate philanthropic efforts. In fact, more than 60% of companies say their giving program is open year-round, a figure that has almost tripled since 2013. But why the steady increase in activity? That’s a loaded question, but we’ll give it a try. The benefits of corporate philanthropy are undeniable:
- Increase employee engagement by up to 7.5%
- Higher employee productivity by up to 13%
- Reduce turnover by up to 50%
- Increase revenue by up to 20%
- Improve employer brand & reputation
While companies with seasonal philanthropy programs experience heightened employee engagement merely for the holiday season, organizations leading the trends are reaping the benefits of year-round giving. If your company wants to maximize employee engagement and perhaps take advantage of a few other attractive benefits, they should seriously consider a year-round giving program.
Leading By Example Works Every Time
Did you know 44% of Millennials are more likely to volunteer if their supervisor does? And did you also know that 39% of managers are more likely to participate in cause work if their CEO did so as well? There’s a pattern here… In fact, the 2015 Snapshot study, which surveyed over 120 organizations representing over 600,000 employees, found that leadership involvement is one of the leading trends in corporate philanthropy strategy.
Not only does leadership have considerable influence over employee behavior in philanthropy, but their sponsorship is a direct reflection of a corporation’s identity and brand, which, as we know, is highly integral to attracting new talent. Leading by example makes a company’s commitment to philanthropy genuine, personal and sheds light on what causes the company stands for. If companies want to make the most of their philanthropic efforts, ensuring that it’s an integral part of the company’s culture is a critical step in getting there.
Corporate philanthropy, like so many other industries, is experiencing paramount changes that won’t slow down for companies that are behind the curve. Today’s workforce wants to give back, and research shows that giving them more opportunities to do so can only enhance their performance and satisfaction.