Workplace Giving: 6 Trends for Companies to Consider (Part 2)
The Landscape of Workplace Giving: What You Need to Know to Engage Your Employees
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.
“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 are 3 additional 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 # 4 – Employers Are Increasingly Offering More Employee Choice in Workplace Giving Programs (and Increasing Employee Participation)-
One of the five best practices for corporations seeking to engage their employees in giving programs is allowing them a choice. Well-designed programs provide mechanisms for garnering input from employees, giving them choices as to how they might contribute, as well as help identify specific projects worthy of corporate investment. (Source: Massachusetts Business Roundtable, Corporate Social Responsibility and Employee Recruitment and Retention 2009)
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When asked the main reasons companies chose to expand their workplace giving program to offer more choice to their employees, 96.9% stated that it increases employee participation and 65.6% reported that it improves employee morale. (Source: LBG Associates, Workplace Giving Works, Make it Work for You, 2010)
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92% of companies studied believe an expanded workplace giving campaign is an added benefit for their employees. (Source: LBG Associates, Workplace Giving Works, Make it Work for You, 2010)
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92% of companies surveyed indicate that having a match program increases participation. (Source: LBG Associates, Workplace Giving Works, Make it Work for You, 2010)
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79% of employees think it’s important that their companies match their giving. (Source: 2008 Cone Cause Evolution Study)
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Matching programs increase total donations: The existence of a matching gift increases total donation response rates by more than 20%. (Source: Giving USA, 2007)
Trend # 6 – Perceived Barriers to Success
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For 38% of businesses who had considered introducing workplace giving but had not done so, the main reason cited was that it was “too complex to set up and administer” (Source: Australian Charities Fund, The Giving Business, 2009)
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56% of companies indicated the main obstacle to running a successful campaign is communicating effectively throughout the organization (Source: LBG Associates, Workplace Giving Works, Make it Work for You, 2010)
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