Businesses often begin by solving a problem for society or offering an alternative solution. On the other hand, Zoom allows people to connect with others and share information without ever having to travel. However, once a company has been established, the focus has shifted to the bottom line: How much profit is making?
This narrow-minded focus does not work in today’s connected society. Everybody wants to see the impact that a company has on the world. Companies are being scrutinized like never before. Companies that have a positive impact on the planet are more successful. Larry Fink (CEO of BlackRock) stated: “Ultimately, the engine for long-term profitability is purpose.”
Ironically, this brings us back to the start. My company is a philanthropy platform that enables organizations to give back. My experience shows that companies can do good (solve social problems) and are the type people want to work for. Workplace philanthropy has become a standard employee benefit. As with retirement plan benefits, employee giving programs have become mainstream. According to a survey, 89% of companies provided at least one gift-matching program for employees in 2019, according to Chief Executives for Corporate Purpose.
It is one of many ways to begin building a trustworthy brand. These are just a few of the reasons you might consider including employee philanthropy programs in your benefits package.
1. Employees expect it. People want to be part and parcel of something larger than them and work for good organizations. Many employees now expect social responsibilities from companies. Businesses cannot afford to ignore this, especially with the Great Resignation. You show employees that you care by involving them in your corporate philanthropy program. That can lead to employee happiness and higher morale.
2. Employees are free to bring their whole self to work. Employers who are not open to discussing current issues, such as climate change and social injustice, may lose talent. Employers can make employees feel valued and supported by listening to them.
3. Giving back can reduce stress. A survey by Oracle of almost 15,000 workers from 13 countries revealed that more than half (52%) felt they struggled with mental health at their Workplace in 2021 than in 2020. Helping others can help lower stress. As per the The Cleveland Clinic, giving back can boost moods and stimulate areas in the brain that “are associated with pleasure, connection, and trust.”
4. Engaged employees are more likely. Gallup’s Perspective to ESG and the Will to the Workplace (registration is required) found that employees who believe their organization has a positive effect on the world are more likely to be engaged than other workers.
5. Job hunters are looking for it. Employer philanthropy programs can help you stand out from the crowd and attract top talent.
The bottom line is that today’s workforce must have a purpose. These are some suggestions to help you create a successful giving program.
1. Ensure that the program’s values are understood and agreed upon internally. This ensures that your program is given the attention and resources it deserves. You can foster this alignment by choosing a program champion with administrative support. Establish a cross-functional group that includes regional advocates to lead the program. The program should be communicated to employees at all levels of the company.
2. Employees should be heard and empowered. Although company-sponsored giving campaigns are an excellent way to strengthen team and community bonds, employees want to give to charities they care about. This will increase program engagement and impact.
3. Make sure to spread the word. Let employees know about the program, including any matching gifts. Please include it in your onboarding process, including employee newsletters and emails.
4. You can make it more fun by giving credit grants or raffle prizes.
In my opinion, the study published by Elsevier contains this quote: “Humans by nature are social creatures.” This may be why our minds and bodies feel rewarded when we give back to others. It can be a great way to feel accomplished and help others.