What are the ingredients of a successful company? While there is no universal recipe to follow, a few obvious basics include: strong leadership, high-quality products or services, strategic marketing, engaged employees, and loyal customers. Mastering this combination, however, is challenging—only 25% of new businesses survive past 15 years.
To remain competitive, your company must stay ahead of employee and consumer expectations. Today, this means demonstrating that you’re committed to doing more than simply turning a profit. Many companies launch a corporate giving program to do so. These programs provide employees with flexible, purpose-driven workplace benefits that make it easy to support causes they care about, while proving to customers that you’re dedicated to bettering the community.
Let’s explore four compelling reasons to implement a corporate giving program at your company.
76% of U.S. employees want to work for a company that positively impacts the world. To engage and retain employees for the long run, you must help them find a purpose and fulfillment beyond simply succeeding in their professional roles. Workplace giving puts employees at the helm of their social impact, allowing them to give back in the ways they prefer most.
For example, they might participate in:
When planning your corporate giving program, start by surveying your employees to zero in on which opportunities resonate with them most. You might find out that they’re really interested in accessing estate planning services that come with an option to leave a bequest to a nonprofit. Or, you might have many young professionals who prefer volunteering their time over contributing financially to charitable causes.
It takes more than time to build close-knit, collaborative teams that power your company’s success. By broadcasting and hosting local volunteering events, you can encourage employees to get out in the community and bond over making the world a better place. They’ll be able to improve communication and teamwork outside of the office while connecting over interests or hobbies they may not get the chance to talk about at work.
To further incentivize employees to volunteer together, consider implementing Dollars for Doers, or volunteer grants. According to Uncommon Giving’s Dollars for Doers guide, the process typically follows these steps:
Through Dollars for Doers, employees can support nonprofits with both time and money. Plus, you can even offer team-based volunteer grants that allow employees to work together toward earning a donation to a charitable organization. For instance, you might establish a policy that says if a team of five or more employees volunteer over 50 combined hours with a nonprofit, you’ll give $2,000 to that organization.
Increase participation by recognizing employees who regularly volunteer through your corporate giving program. Spotlight trailblazers and frequent volunteers in social media posts and company newsletters. Create eCards that team members can use to celebrate one another for giving back to the community.
A well-managed corporate giving program demonstrates to employees, customers, and other stakeholders that your company prioritizes ethical business practices and its community’s well-being. This commitment can help you stand out among competitors and appeal to more socially conscious consumers and job seekers.
An inspiring example to learn from is the Philadelphia Eagles. This community-focused football team makes philanthropy an integral part of its identity by:
Let’s say that many of your employees care deeply about hunger relief in your community. With this in mind, you might organize an in-kind donation drive, encouraging employees to donate canned food and other non-perishable items to support a local hunger relief nonprofit.
No matter what you choose to do, however, remember to report on the impact of your initiatives. According to Astron Solutions, transparent communication is essential to instilling trust in your employees. Share updates through your website, social media pages, and email newsletter to help employees and other stakeholders understand how your company is really making a difference.
Expand your reach and tap into more positive PR opportunities by establishing strong community partnerships through your corporate giving program. A long-term collaboration with a local organization allows you to boost brand awareness and create a lasting impact that all of your employees can take pride in.
Here are some real-world examples: Actualize Consulting is a financial services firm that partners with The Doe Fund, a nonprofit that provides housing and career training to formerly incarcerated men, to host mock interviews with program participants. Gilbane Building Company partners with the ACE Mentor Program to help students prepare for STEM-related careers.
When seeking potential partners for your company, look for nonprofits that align with your mission and values. Doing so ensures that you nurture mutually beneficial relationships that last. A life insurance company, for instance, might collaborate with nonprofits that focus on financial literacy or healthcare. A solar energy company, on the other hand, might partner with environmental conservation organizations.
To set your program up for success, look for corporate giving software with comprehensive tools for managing all of your activities on one platform. You should be able to facilitate employee engagement and measure program performance to continually improve your strategy over time.
Start by researching popular solutions online, reading reviews, and requesting demos of your top picks to see how the platforms work for yourself. With the right software, you’ll be able to effortlessly incorporate generosity into your workplace, boosting employee engagement and your bottom line.
A Qualified Charitable Distribution (QCD) is a powerful tool that allows IRA owners to donate directly to qualified charities, bypassing the usual tax implications of IRA distributions.
Encouraging donors to give from their IRA is a creative way for a donor to give with impact and save on taxes. The impact is the same whether a donor gives from their bank account or their IRA. A QCD gift is a win-win!
AI is becoming increasingly popular in the nonprofit sector. Learn how your organization can get started and use AI to improve its fundraising strategy.
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