Employee giving programs are becoming an in-demand and commonly offered workplace benefit. In addition to doing good by facilitating charitable donations, employee giving programs generate value for staff, customers, and communities. Here are four ways an employee giving program can benefit your organization:
When employees believe that their workplace makes a positive impact on the world, they are three times more likely to report feeling satisfied with their work and half as likely to report feeling burned out often or always. This is huge, because according to recent research, more than half of employees have reported deteriorating mental health during the pandemic. A program that helps staff improve their sense of wellbeing and control is valuable to them and to their employer. Employee giving programs can empower, engage, and nourish staff. One great way to boost employee morale through giving is with credit grants, which allow you to “gift” donations to employees that they can pass on to nonprofits of their choice. You can give these credit grants at regular intervals, as a reward for good performance, or as a morale booster.
In addition to supporting your staff, employee giving programs can enhance your brand. Three quarters of millennials and Gen Z consumers look to patronize brands that support causes they support. However, authenticity is important. When your employee giving program is authentically incorporated into your culture and into communications and marketing, it can generate value for your company amongst cause-conscious consumers.
Employee giving programs often generate value locally. This is especially the case at smaller companies or branches of larger companies where workplace giving programs can focus on local charities, youth organizations, and local first responder support. For example, a branch of a national bank may choose to emphasize donations to an area food bank and opportunities to volunteer together for a shift there each month. Even though the company is a national (or international) brand, their employees’ impact is local. They are helping their neighbors directly and concretely, which can be very motivating. This generates value for your brand by humanizing your company at the local level and potentially increasing productivity and profitability at that branch.
While local impact is the most immediately felt, employee giving can also empower your leadership, staff, and customers to think globally. According to Pricewaterhouse Cooper, 71% of firms are planning how they will engage the Sustainable Development Goals (SDGs) in their work and 78% of customers said they would be more likely to purchase from companies that engage with the SDGs. If your firm is adjusting its approach to align with these goals, the Bright Funds SDG funds could empower your staff to engage with the SDGs on a personal level.
Workplace giving is great and has inherent worth in its own right. But a well-designed program generates value beyond the donations it facilitates. Employee wellbeing and retention, improved brand reputation, immediate local engagement, and long-term global sustainability are all worthwhile benefits from this kind of program. Bright Funds can help you develop the employee giving program that is tailored to your needs and goals. Schedule a demo to learn more.