Workplace Giving: 6 Trends for Companies to Consider (Part 1)

Doing well by doing good: it’s not just a corporate catch phrase or nice-to-do anymore, it’s a must do for a growing number of businesses. A growing number of people expect businesses to not only “do good” but to provide opportunities for them to give back to causes that resonate with them.    “Giving back” isn’t limited to consumer scenarios: employees also want to work for companies that care. Cone Research found that 79% of people would also prefer to work for a socially responsible company (Cone Millennial Cause Study 2006) and 79% of employees think it’s important that their companies match their giving. (2008 Cone Cause Evolution Study).   One key way employers can engage their employees in giving back is through a workplace giving program. In the current environment where employee disengagement is reportedly at a high, a workplace giving program that actively involves employees and provides a means for employers to demonstrate their commitment to giving back, is one tool in the employee engagement toolbox. A major driver behind the increased corporate appetite for implementing workplace giving programs is the mounting research that shows that employees want to work for companies that care, that social responsibility is a consideration in employees’ decisions to join, stay with or leave companies, and that there is a link between social responsibility and engaged, productive employees.    Workplace giving isn’t new but the landscape of workplace giving is dynamic. Following in this two-part article are 6 key trends for companies to consider around the changing landscape of workplace giving and giving their employees a convenient way to support causes they care about as part of existing employee experiences:   Trend #1 - Employees want to work for companies that care

• 79% of people would prefer to work for a socially responsible company (Source: Cone Millennial Cause Study 2006)

• 79% of employees think it’s important that their companies match their giving (Source: 2008 Cone Cause Evolution Study)

• Today’s employees want to be part of an enterprise that cares about more than its bottom line. They want to be part of a company whose values are expressed in its engagement and contributions to the community (Source: Massachusetts Business Roundtable, Corporate Social Responsibility and Employee Recruitment and Retention 2009)

Trend # 2 - Workplace Giving as an Employee Engagement Tool

• 80% of companies reported that their workplace giving programs were a success and when asked why they feel this way, respondents consistently answered “employee engagement and satisfaction derived from the program.” Source: (LBG Research Institute, Inc. and LBG Associates, Workplace Giving Works! Make it Work for You, 2010)

• A 2010 benchmarking study by community investment impact firm LBG Canada reported that: “Employee engagement is an increasingly prioritized element of strategic community investment. This trend is evident in Canada as it is around the world. 100% of LBG Canada companies have some form of an employer-supported employee giving and volunteering program in place.”  (LBG Canada Annual Community Investment Benchmarking Report, 2010)

• In an Australian study companies stated that one of the benefits of workplace giving programs include improved levels of employee engagement (Source: Australian Charities Fund, Cutting to the Heart of Workplace Giving Study, 2009)

  Trend #3 - Doing Well by Doing Good: Workplace Giving Bottom line Benefits

• “Workplace giving programs encourage and support employee philanthropy, which in turn engages employees, increases satisfaction and helps recruit and retain talent. (LBG Research Institute, Inc. and LBG Associates, Workplace Giving Works! Make it Work for You, 2010)

• Organizations with high employee engagement generated total shareholder returns that were 29% above average. (Source: 2010 Best Employers in Canada Study by Hewitt)

• Talented personnel weigh a company's CSR policies among other factors when deciding not only where to work, but how long to stay there. In recent surveys of corporate employees, a consistent 8 out of 10 report being more motivated and loyal the more socially responsible a company becomes. (Corporate Social Responsibility Review, The Conference Board of Canada, Autumn 2007)

Stay tuned! In part 2, three additional trends in workplace giving will be covered.   ­­­­­­­­­­­ Introducing Benevity In today’s climate where companies have a growing need to deliver authentic social responsibility and community investment programs, and where individuals feel more strongly about supporting worthy causes with micro-donations, Benevity offers a powerful and incremental way for corporations to make a difference. Benevity’s goal is to help build user-driven giving opportunities into all types of existing online interactions to involve customers and employees in giving to causes they care about; building greater loyalty, differentiation and customer and employee stickiness.  Benevity wants to help companies and their customers, employees and partners turn “feel good” into real good, and change the landscape of philanthropy in the process.  Find out more at www.benevity.org and by viewing our short video at www.benevity.org/goodness3.0.    BENEVITY8923