The Power of Transparency in Workplace Giving
When it comes to implementing a workplace-giving plan, it’s easy to opt for a simple giving approach. A straightforward plan that provides an increase in basic metrics, like the amount donated or the rate of employee participation. This is a common solution and we get it - growing companies have to compete for business priorities and overworked People teams with little time to develop a thorough strategy. And, at the end of the day, it’s better to give simply than to not give at all.
BUT - in order to truly see an increase in employee engagement and even an increase in company revenue as an outcome of your CSR-plan, transparent giving must be optimized. There is a new demand for transparent giving, for when you can show the real impact of your company’s giving on an ongoing basis, that’s when you see true and lasting results.
After all, the opportunity to give back at work has become an expectation these days. The 2016 Cone Millennial Engagement Study found that 88% of millennials say their job is more fulfilling when they are provided opportunities to make a positive impact on social issues.
To truly stand out to today’s young professionals (millennials), it’s essential to provide transparency when they give. A Cone survey in 2017 also showed that 75% of all workers, and 88% of millennial workers, think it is important that their employer shares goals, progress, and achievements related to CSR efforts. They want to know the impact they’re making, where their donation is going and be able to share their positive giving habits (provided to them by their employers!) via social media.
Transparency is often the missing piece, which is why Percent Pledge prioritizes transparency and delivers employee donors (Pledgers) personalized impact reports (Pledge Reports) every two weeks. These reports provide a straightforward summary of each Pledger’s ongoing impact, and stories from the charities the Pledger supports. With an average 50% open rate, it is evident that young professionals who give value seeing the impact of their giving.
AND, beyond transparency being a growing expectation amongst today’s workforce, it’s also where companies see the value-add and ROI from implementing a structured giving program. For this reason, Percent Pledge delivers each company client monthly Pledge Reports, showcasing the companies growing impact. Consumers want to buy from socially conscious companies, and companies want to work with socially conscious companies - a recent Carmichael & Rubin study found that 68 percent of people said it's more important to know how companies operate than what they sell, and 94 percent of those surveyed said companies have the ability to shape a better society. Simply put, consumers are doing their research, and rewarding companies who give back.
Transparent giving allows your company to showcase your habit of giving regularly and constantly remind the world of your impact - increasing recruitment and revenue. Many companies give back but do so in an ad-hoc manner. Building structure and transparency into your giving efforts is essential, for it’s in that transparency that the engagement and ROI is made.
Joel Pollick is the Founder & CEO of Percent Pledge. Connect with Joel here. Percent Pledge establishes a culture of giving together with your employees, executing on your culture of giving without disrupting existing systems or processes, displaying your culture of giving when recruiting socially-minded millennials and managing administration related to your ongoing culture of giving.
Check out our partner interview with Joel Pollick here.
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