The impact of workplace philanthropy on charitable organizations and the people they serve cannot be understated. Workplace giving campaigns generate more than $4 billion annually — enabling charitable organizations to serve communities throughout the nation. And, according to recent studies, these giving programs can also help an employer’s bottom line.
Why It Matters
Research suggests companies that engage in corporate giving have more engaged employees, lower turnover rates and better connections with customers. And it’s not limited to financial donations either. Many employers use employee volunteer programs to foster a more personal link to the community by sharing their time with organizations in need.
According to the study Good Companies, Better Employees, employee volunteer programs can mean:
- An improved rating among employees for their employer as a place to work compared to other companies (63 percent saying above average or one of the best, compared to 57 percent before the program was in place).
- Increased job satisfaction levels (64 percent fairly or very satisfied among all employees, compared to 62 percent before; satisfaction among volunteer program participants rose to 67 percent).
- Increased positive word of mouth among employees about their employer (54 percent saying they would speak highly of their employer, compared to 49 percent before the program was put in place);
- Higher retention rates for employees who participated in volunteer activities than for those employees who did not.
Corporate Social Responsibility Can Also Help Generate New Business and Hiring Opportunities
For example, research suggests that 61 percent of all candidates take corporate philanthropy initiatives into consideration when evaluating a company, and 83 percent of all employees prefer to work for companies that focus on corporate giving.
Furthermore, 91 percent of Fortune 500 HR managers surveyed by Deloitte believe that contributing business skills or expertise to a nonprofit organization in a volunteer capacity can further develop an employeeʼs business skills, and 56 percent say that this kind of volunteering is encouraged as part of their company’s development and training program.
Workplace giving and volunteer programs can definitely be a win-win for both employers and the communities in which they operate. A more enriched community is more likely to bring further growth and success for all.
Take a Look
In this edition of the Business Magazine, we’ll take a look at some of the ways that employers are giving back. We’ll focus on the 10th anniversary of Roar on the Shore® and how this motorcycle rally has raised approximately $800,000 for charity since its inception, plus the economic impact that spills over to many local businesses leading up to and during the event. In addition, we’ll hear from local employers on why it’s important to support local charitable events and the many nonprofits that are leading the charge to provide the community with valuable programs and services.
The Manufacturer & Business Association (MBA), which presents the Roar® each year, along with more than 50 business sponsors, also has the tools and resurces to help assist our members with charitable giving and volunteer time off programs. Call the MBA’s HR Services today at 814/833-3200 or 800/815-2660 to get more information about your options.
