Employee engagement has emerged as a critical driver of business success. Whether you are a small business or a large corporation, retaining and engaging employees is equally important. Over the past few years, the modern workforce has transformed. Millennials make up a majority of the workforce today, and they are more engaged with companies that allow them to give back to their communities.
Retaining millennials takes work on the part of business owners. A recent article in Business News Daily cites that the millennial generation works best when there is trust and transparency, when they are inspired and engaged, and when they feel like part of a team. They have also made a big impact on the workforce, changing the way employers communicate, use technology, and manage their businesses. Flexible work schedules, the use of personal technology, and the importance of giving back to the community are largely thanks to millennials.
The rise in popularity of corporate charitable giving programs isn’t just because of demographics. Some of the reasons can be attributed to the lack of division between personal and professional lives. This lack of division was made even greater over the last few years due to remote working environments during the peak of the COVID-19 pandemic.
According to the society for human resources management, corporate charitable giving programs that directly involve employees help increase employee engagement. Employee engagement then improves productivity and leads to greater employee satisfaction and retention.
Employees want simple ways to make a difference in the community
Companies of all sizes look for the most talented employees to join their teams. Today’s job market is extremely competitive. Employees want to work for a company where charitable giving and volunteering are supported. They want to improve the world around them, and now more than ever, they expect companies to offer benefits such as flexible work environments, opportunities for growth and advancement, and corporate charitable giving programs.
Who should champion a corporate charitable giving program?
- Corporate leaders who seek a deeper relationship with their employees, customers and community.
- Small business owners who would like to implement large-scale corporate giving programs, but never thought they could.
- Human resources professionals who understand the changing values of the transformational workforce.
- Business leaders and entrepreneurs who want to maximize the benefits and minimize the cost of personal or company giving.
Benefits of a corporate charitable giving program
Corporations benefit by attracting the right talent. Today’s top talent is starting to demand that employers pay more attention to charitable causes. Employees are also measuring their success and the success of their careers by the positive impact they have on the world around them. Other benefits include:
- Improved brand awareness and reputation for your company.
- Potential tax deductions from company donations.
- Increased levels of employee engagement and satisfaction.
Getting started with a corporate charitable giving program
One size does not fit all when it comes to establishing your corporate charitable giving program. It’s important to align your giving to your company’s philanthropic mission and goals. Greater Horizons’ five-step process makes it easy to develop a plan and get started. Many employers, small business owners and human resources directors start by creating a matching gift program. Greater Horizons can customize a program to fit your needs, and they make it easy to implement.
- Your company sets up a corporate donor-advised fund and determines the matching guidelines.
- Employees log on to our employee giving portal and submit match requests.
- Greater Horizons reviews requests and sends approved matching gifts to charities.
If you haven’t explored the benefits of creating a corporate charitable giving program, now is the time to do so. Today’s transformative workforce has demonstrated the preference for employers who show a commitment to philanthropic efforts. Hear how companies like yours are establishing matching gift programs to expand their corporate philanthropic efforts.
If you want more information about how giving increases employee engagement, download our corporate charitable giving guide or contact our team at Greater Horizons today.