When a company invests time and resources in corporate social responsibility efforts, it benefits the community, the employees and the company itself.
“I should be donating more time and/or money to causes I care about.” That’s a phrase many of us have uttered over the past year. A quick Google search of where to donate often results in a daunting number of options — and questions about which charities are the most reputable. Employee giving programs ease those concerns by supporting workers in their charitable endeavors.
When a company invests time and resources in corporate social responsibility efforts, it benefits the community, the employees and the company itself. It’s no surprise that prospective employees prioritize benefits like wellness programs and tuition reimbursement. But, in an encouraging finding from Cone Communications’ 2016 Employee Engagement Study, 64 percent of employees reported that philanthropic opportunities were an equally important company benefit.
According to the study, companies that foster their employees’ philanthropic efforts have a lower turnover rate than their counterparts that don’t have giving programs. In fact, workers who are part of employee giving programs are 32 percent less likely to leave their companies than workers who are unengaged — a major perk for hiring managers and the Human Resources department. This percentage will only grow because millennials are the demographic that’s most likely to seek out positions with companies that have “giving program” on their list of benefits.
Migee Han, Chief Philanthropy Officer at YWCA Seattle King Snohomish, said the donations from employee giving programs are invaluable to the nonprofits they support.
“Employee giving programs are a critical source of support for YWCA and all nonprofit organizations,” she explained. “They help strengthen the impact of individual giving through matching programs and, often times, also encourage a deeper engagement in one’s community through offering time and financial resources for volunteer efforts.”
Han’s team helps employees get connected to the ways in which they can leverage their personal giving for greater impact. “We find that often supporters are unaware of the programs offered by their employers,” she said.
Although these programs vary depending on the company, the most common is a year round offering that allows employees to make donations at the optimal time for each individual.
Additionally, there’s often a designated month when a campaign is actively promoted by the company and employees have the option of pledging their payroll donations for the upcoming year.
With programs focused on housing stability, economic advancement, and health and safety, YWCA Seattle | King | Snohomish is on a mission to eliminate racism, empower women, and promote peace, justice, freedom and dignity for all. To learn more, please visit our website.