Employees care about giving back and this isn’t a novel mindset in millennials, either. A report, which surveyed young adults between the ages of 13 and 25 back in 2006, found that 79 percent of those surveyed want to work for companies that are cognizant of their impact on society, companies who have a corporate philanthropy strategy. Almost 70 percent also stated they keep abreast of their employers’ social contributions.
Corporate Philanthropy: a Competitive Advantage for Your Business
The shift in what employees are considering most important was detailed in “The 2020 Workplace” written in 2010 by two corporate training experts. The title speaks for itself; by 2020 more than 50 percent of the workforce (in the US) will be made up of millennials. All too quickly companies will be left behind if their strategies do not adapt. Doing good and giving back must be balanced with traditional business aspects. The principles of corporate social responsibility and the triple bottom line – to place an equal significance on profits, people and the planet – can no longer be ignored, especially if you’re company’s planning to snag the best and brightest future employees.
Doing good and giving back must be balanced with traditional business aspects
Companies across North America have taken note, and either introduced or ramped up their philanthropic efforts with a corporate philanthropy strategy. But while an expansion of social responsibility is great for people and environments in need, it does make it difficult for businesses to stand out in this newly generous crowd.
It seems one of the best things a company can do to make sure their generous actions are noticed by potential employees, is set out to do more than just rope in candidates; they should be legitimately invested in the charitable causes they support. After all, millennials are savvy enough to differentiate between companies that are doing good for the sake of good, and those doing good for the sake of profit. A great way to ensure this honest connection is perceived is to support organizations that align with your company’s brand or principles.
Millennials are savvy enough to differentiate between companies that are doing good for the sake of good, and those doing good for the sake of profit
There are obvious and straight-forward philanthropic endeavours businesses can undertake such as making monetary donations to a specific charity and matching the money raised. But there are many other exciting ways to give back to the community, such as arranging group volunteer shifts, or encouraging workers to compete for grants, which are then awarded to the charities of their choice.
Our experts at HeartPress will help you select the ideal charitable organization and plan your company’s CSR strategy for great results on those three aforementioned fronts: revenue, people, and the earth.
How has your company given back just for the sake of doing something good? Start a conversation with us in the comments below.