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Giving Compass' Take:
• As millennials increasingly make up a large percentage of the workforce, companies explore how to engage this population through corporate social responsibility.
• How can CSR efforts improve to target millennials? How would volunteer programs be useful in this capacity?
• Read about a new era of corporate social responsibility.
Millennials are becoming even more engaged in philanthropic causes in 2017 than they were in late 2016, according to Phase 1 of the Millennial Impact Report. At the same time, employers continue to search for ways to engage millennials to successfully attract, hire and retain them. As millennials become an increasingly large percentage of the workforce, companies may take the opportunity to support their local community.
Colleagues working together to accomplish a shared goal can have a positive effect on company culture. Embracing corporate social responsibility can benefit the bottom line as well. In a recent Cone Communications survey, 87% of Americans will purchase a product because a company advocating for an issue they cared about, and millennials are more likely than other generations to research the issues a company supports and the extent to which the company contributes.
While some companies have formal programs, others let employees follow their individual passion for volunteering.
Our leadership team doesn’t dictate where people volunteer because we want our team members – those who live and work in the communities we serve – to decide where their time will have an impact,” said Chris Martin, President and CEO, Provident Bank.
Read the full article about corporate social responsibility by Marissa Peretz at Forbes.