When it comes to implementing workplace giving, 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 often what we see before partnering with companies, and we get it -- growing companies often have overstretched 1-3 person People teams. BUT, in order to fully realize the positive power of giving (e.g. hiring better talent for less, more engage employees, and better employee retention) you must be able to track -- and display -- your total impact.
The true ROI to the business from giving programs comes 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. And transparency is where you will find a competitive advantage. Because with today's socially-conscious millennial talent, simply providing employees options to make an impact at work has become table stakes. Take it from the source and Cone's Millennial Engagement Study:
84% of millennials want their company to help them identify ways to get more involved in their communities.
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 talent, it’s essential to show impact transparency. It likely won't surprise you that Cone Communications also asked millennial employees about this very topic. And given that we posted it below, it also likely won't surprise you what they said:
75% of all workers, and 88% of millennial workers, think it is important that their employer shares goals, progress and achievements related to Corporate Social Responsibility (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 employer!) 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% engagement rate across our Pledger community, it is evident that young professionals who give value seeing the impact of their giving. And to ensure the company stays engaged with their total impact, we also deliver each 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% of people said it's more important to know how companies operate than what they sell. What's more, 94% 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.
Building structure and transparency into your giving efforts is essential. To get acquainted with how we prioritize transparency, email me at firstname.lastname@example.org.