Giving Compass' Take:
- Here are five elements necessary to foster an effective and successful workplace giving program in your industry.
- What does corporate giving look like at your company? How can you start a giving program if one does not already exist?
- Read more about leveraging impact for employee giving.
What is Giving Compass?
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Workplace giving has been around since the early 1900s. At that time, community-based charity federations began to coordinate unified campaigns for local nonprofits. By 1950, more than 40% of the amount raised in these local fund drives came from corporate contributions.i This affinity for local impact still exists today in many corporate social responsibility programs. Companies want to connect their philanthropy dollars and hours to the communities in which they operate, as well as to the causes their employees care about.
Regardless of the reason for setting up corporate giving program, there are five essential elements to consider for success as follows:
- Employee empowerment and choice: Company-wide initiatives are a great way to foster a sense of community among your employees and causes that align well with your business.
- Ease of use: Your solution should be easy to deploy while also being simple and elegant enough for employees to use it. Employee engagement is a great barometer of success for your giving program – it’s only valuable if your employees actually participate.
- Scalability: Heightened focus on global health and social justice concerns over the past year inspired many companies to launch giving programs for the first time.
- Reporting: Business leaders need to be able to measure aspects of their workplace giving program important to key stakeholders such as leadership, investors, customers and employees, as well as to inform their strategy going forward. Effective reporting should equip management teams with the insights they need to drive a successful program and improve engagement over time.
- Shared purpose: A big part of driving positive value is to “think bigger.” Not only do employees want to be part of something bigger than themselves, but investors, government, communities and consumers are increasingly expecting companies to do more good outside their own doors. As a result, there is mounting evidence that companies that hold purpose at the core of their strategy are outperforming those that don’t.
Read the full article about workplace giving program by Julie Yamamoto at Bright Funds.