Charitable giving is a hot trend that is likely to continue to grow. As employees become more invested in giving back and working for companies that care about the community, the people, and the environment, employers must begin looking for ways to attract and retain top talent, such as implementing corporate giving strategies. While each business’ action plan will differ, there are common elements that should be considered. Check out the top strategies for building charitable giving into your business.
Strategies to get started:
Be genuine. As odd as it may be, a lot of the weight of charitable giving and donations is often placed on the intentions. If it seems forced or insincere, the impact of charity can be hugely diminished. Rather than just giving, choose a charity or partnership that is in-line with the company vision, mission, and goals.
Align with business strategy. It would be counter-productive to the team with an organization that is outside of company business and goals. Rather than adding additional work for employees, choose a partnership or charity that aligns with your company’s goals and purpose. While encouraging staff to get involved in more traditional ways, setting cause-marketing objectives for the company are necessary incentives to keep employees engaged and company morale up.
Purposeful impact. While holding a cash drive or other fundraiser can be a fun event, the giving typically comes to a halt at the end of the night. However, companies should work to establish different levels of giving to make the most significant impact and to allow all to be involved. One great way to have a purposeful impact is to use company and employee skills to develop relationships with different causes and organizations. For example, tech companies could create a partnership with local high schools and encourage engineers to teach students about technology and the jobs one can obtain with a STEM degree.
Room in margins. In a capitalist society, profits are the primary motivation; if it isn’t, the company is either a non-profit, or it is failing. While profits are needed to grow and innovate, creating charitable partnerships with fundraisers and other volunteer efforts helps to support nonprofits and charities, as well as increase company rapport.
Ideas for giving back:
- Create a float or banner for local parades
- Support a kids sports team
- Support families-in-need during the holidays
- Offer business services or vehicles during local functions or events
- Donate to food banks
- Donate a portion of sales to local charities
- Offer free meeting space for different charities and organizations