More Than Money: The New Currency of Happy Employees

Corporate philanthropy is more than just about giving back to a community. It has become a tool in attracting talent, boosting employee morale, and building long-term employee loyalty.

This article will look into the value of how corporate giving impacts current and future employees and some of the specific ways that employers can get their teams involved in workplace giving and charitable goodwill.

Boosting Morale and Productivity

Employees experience a significant boost in job satisfaction when they engage in corporate giving initiatives. Contributing to a company-championed cause—whether through volunteering or donations—instills in them a powerful feeling of pride, personal ownership, and intrinsic fulfillment.

• Increased Job Satisfaction: Feeling like they are part of a company that cares about the community fosters positive feelings about their employer. A Deloitte study determined that 89% of Millennials believe business should have a positive impact on the wider society.

• Greater Loyalty: These programs create an emotional bond, making employees less likely to seek opportunities elsewhere. A study by Babson College found that corporate social responsibility (CSR) practices have the potential to reduce staff turnover rates by up to 50%. An additional study by Benevity determined that those employees who were involved in both workplace giving programs and workplace volunteering lowered turnover by 57% compared to those employees who did neither.

• Improved Performance: Engaged employees display high motivation, leading to better productivity. A key UK study demonstrated this, finding that tying employee job performance to increasing corporate donations boosted staff productivity by 13%.

Gaining Top Talent

Potential employees can be driven by more than monetary gain. This is especially important for Millennials & Generation Z. Among both groups, over 50% research a potential employers’ environmental impact and policies before accepting a job offer.

A study among Millennials indicated that 69% prefer to work for a company that actively promote their corporate social and environmental responsibility. These generations have shown that corporate giving and CSR is more than merely a perk but a prerequisite in selecting an employer.

To effectively attract top talent, corporate philanthropy and CSR must be strategically integrated and actively communicated:

• Authenticity is Key: Companies must ensure their philanthropic efforts are authentic and consistent with their core business operations. Employees are skeptical of "greenwashing" or programs that feel detached from the company’s mission.

• Employer Reputation: Strong CSR initiatives build a positive employer reputation and brand identity, which naturally draws in high-quality candidates who want to be associated with successful, ethical leaders in their industry.

Giving Opportunities

The most appealing programs offer employees a chance to personally participate and make an impact. This includes:

• Paid Volunteer Time Off (VTO): Allocating paid hours for employees to volunteer.

• Matching Gift Programs: Magnifying the employee's personal charitable donations, often a dollar-for-dollar match, up to a specified limit.

• Employee-Led Initiatives: Giving employees ownership over which causes the company supports.

• Employee Group Volunteering: The opportunity to volunteer as a group during the workday to a specific charitable project ( organizing food at a food bank, helping maintain a trail at a park, etc.)

Conclusion

Companies that strategically invest in accessible giving programs, like Paid Volunteer Time Off and Matching Gift programs, are not just investing in the community; they are strategically investing in their most valuable asset: happy, engaged, and high-performing people who will confidently drive the organization's long-term success. At Generosity Nexus, our expertise in charitable strategy & planning can help your company turn corporate giving  into an asset instead of an expense.

Contact us and take the first step in structuring the right corporate giving plan for you.