Employee giving programs continue to evolve in direct correlation to our culture and the growing urgency to be a part of something bigger than ourselves. In general, all of us are looking for ways that we can be a part of of making a social impact in our daily lives. This is made increasingly evident in the growth of philanthropic programs, such as employee giving programs, being implemented into corporations and organizations across the globe.
First, for those who may be unfamiliar with the concept, let’s take a look at a general breakdown of what an employee giving program actually is.
Employee giving programs are a way for companies to provide an outlet for their employees to donate money to their desired causes. When an employee opts in to be a part of their company’s giving program, they choose a desired donation amount to be deducted directly from their paychecks. As added incentive, many employers will match those donations dollar for dollar. This is only one example, however, of the many different giving programs that organizations are offering their employees as a way to nurture the growing desire to give back.
Here are some of the most common employee giving programs utilized by various corporations across the globe:
We briefly touched on this type of program above. As the name implies, the employer matches the donations made by its employees. In most cases, the matching gift program is implemented by the employer on a 1:1 ratio matching basis. For example, the employer will donate $25 if the employee is donating $25. However, some companies increase the incentive even more by offering even better ratios. For instance, if a 4:1 ratio is used, then a $25 donation of an employee is matched with a $100 donation from the employer. Microsoft’s matching program is one of the most impressive. The company matches a donation as small as $1 up to a maximum of $15,000 per year, per employee.
Not only does a program like this serve as a great way for employers to show their social responsibility, but also it is a highly effective tool in helping with employee engagement, retention, and loyalty.
Dollars for Doers
Dollars for Doers is a great program that encourages employees to volunteer their time to a chosen cause. In this particular program, the employer offers to donate a specific amount of money when an employee has spent a certain number of hours volunteering. A good example of a company utilizing this program successfully is Bank of America. As a part of their Dollars for Doers program, they donate $250 after a volunteering employee has spent 50 hours serving their chosen cause or charity, doubling their donation when the employee completes 100 hours of volunteering time. Full-time and part-time employees can both benefit from this program.
This type of program supports human involvement in the community as the volunteering employee has to give their personal time to the cause rather than having an amount deducted from their paycheck every month. On the other hand, the company is able to show its resolve with CSR (corporate social responsibility) by donating a specific amount of money along with employee’s personal involvement.
In addition to Dollars for Doers, there are a variety of alternative volunteer programs available. For example, there is a team volunteer grants program and volunteer support program. In a volunteer support program, companies will donate their products or services to nonprofit organizations. In a team volunteer grants program, employees from different companies spend their time serving the same cause. They will spend certain hours volunteering for the cause, and the companies will provide them the grants as a reward. Walmart runs an effective team volunteer grants program where it rewards a grant of $5,000 when there are at least 50 associates volunteering for a cause.
Volunteer programs like these are a great way to increase employee engagement while giving back and having a positive impact on the community around you.
United Way Campaigns
The United Way is another great option for corporations to link arms with in order to make a positive impact in the community that surrounds them. From programs that improve local education, health programs, and overall financial stability within the community, they offer the tools and resources for your company and employees to get involved in workplace giving campaigns in a very real and tangible way.
The United Way workplace campaign programs are a great way to unite employees in all offices or branches of a company, providing a very transparent avenue to donate, volunteer, and champion causes that they are passionate about.
Employee satisfaction and loyalty
By cultivating these valuable programs you are not only nurturing your employees job
satisfaction and loyalty while giving back to worthy causes, but you are building a company
brand positioned for growth and success. In our next post we will talk about the importance
of the right technology and software to help manage and propel these vital programs to create
the most impact. We are here to help you build stronger communities inside and out through
effective and innovate CSR programs that make an impact.
Added On June 26, 2018