Why Corporate Philanthropy Can Help Your Company Recruit and Retain Top Talent
Corporate philanthropy and employee giving programs -- when done right -- make it easier for HR managers to recruit top talent, retain team members and keep employees engaged in the workplace.
They also empower employees to genuinely make a difference in the world while building your company’s charitable brand. That’s a scenario today’s top talent is looking for, and the reason 65% of Fortune 500 companies support their employees in giving.
Here are two key reasons to consider a corporate giving program for your company.
Corporate Philanthropy Programs Help You Attract the Talent You Want
Employees are increasingly looking for purpose and meaning at work, beyond compensation for doing their jobs. Team members of all ages, and millennials in particular, want to participate in - and be supported in - giving back and creating social impact through their workplace.
Studies have shown that companies with corporate giving programs attract more talent. That’s because job seekers rank social values and giving back as important criteria when selecting an employer:
- 79% of millennials want to work for employers that care about how they contribute to society
- 91% of older workers want to do “worthwhile” work, and 86% want to help others
Corporate Social Responsibility Builds Employee Loyalty
If your company, like most, invests significant resources into finding the right people, there’s nothing worse than seeing top talent move on. Not only is your initial investment gone, but now you’ve got to re-invest those resources all over again in finding someone new.
Today’s employees are a demanding bunch: not only do they want the usual array of benefits and opportunities for advancement, they also want to do work that empowers them to make a difference in the world.
A report by PWC stated that “across industries, 10% to 15% of the global workforce can be categorized as Disconnected—with low levels of engagement and a high likelihood to exit the organization. What’s more, only two in five employees express a strong intent to work for their current employer for at least another year.”
However, the report continues: “In high-performing organizations that are focused on employee engagement, the rate of Disconnected employees can be cut by more than half. And when employees see positive, ongoing management of employee engagement, they are 20 per cent more engaged than those with no focus.”
Studies have shown that employees are happier, more connected to their work and more productive at work when they have an opportunity to support causes they care about. By giving together, employees build strong bonds that promote workplace cooperation, communication and greater job satisfaction.
- 69% of millennials report that working for socially responsible employers instills a sense of pride, and 64% say it strengthens their loyalty to the employer
- 70% of employed Canadians say they would consider changing jobs to a more socially responsible employer
- Employees most committed to their organizations put in 57% more effort on the job—and are 87% less likely to resign—than employees who consider themselves disengaged.
Ready to engage in corporate philanthropy and build an effective employee giving program? We can help! Give us a call at 1-877-531-0580 or email firstname.lastname@example.org to get started.