December 2, 2019/mmisiurewicz
There are several ways in which CEO’s and company executives look to increase their employee morale while retaining and attracting the best employees. One strategy to accomplish this goal that is often not fully developed is charitable giving. Companies spend a lot of time and money supporting nonprofit missions in their community while not having the intended results. Yes, companies will make donations that benefit nonprofit organizations, but often there is little strategy behind their charitable efforts and the impact internally and externally is minimal. We have all seen the Gala or golf tournament sponsorship where no employees attend the event, or the outright gift that was spent without the company knowing how it was used. Philanthropy can be a powerful tool that can have numerous positive ramifications if coordinated appropriately. One positive outcome is increasing employee morale.
A 2017 Deloitte survey* on volunteerism showed that 89% of respondents believed that companies who are charitable and sponsor volunteer activities offer a better overall working environment. The philanthropic support provided does not directly impact the day to day work of each employee, yet employees respect companies that care for their community. The charitable activities make employees feel good and increases the emotional attachment to their employer. If the employer takes the additional step to include the employees in their charitable activities, this emotional attachment grows exponentially.
The motivation for these charitable activities can vary from altruism to marketing and visibility in the community to financial benefits through tax deductions. Regardless of the intent, the impact on a nonprofit can be significant. By developing a thoughtful charitable strategy, companies can maximize their impact and directly improve employee morale which leads to increased productivity and employee retention. Knowing who to involve in the development of this charitable strategy and how to have the greatest impact can be challenging. By partnering with the experts at Empreinte Consulting, LLC, we can guide you through this process and develop a plan that engages your employees while fulfilling your philanthropic mission.
At a time when it is increasingly difficult to attract and retain talented professionals, developing a clear and thoughtful charitable plan can provide your company and the organizations you support with multiple benefits. Your employees will thank you.
Empreinte Consulting, LLC
- ©2017 Deloitte Development LLC (https://www2.deloitte.com/content/dam/Deloitte/us/Documents/about-deloitte/us-2017-deloitte-volunteerism-survey.pdf)