Apple recently featured this content in the App Store: "Innovative Ways to Give Back". Why? Because 90% of millennials--and 85% of all consumers--would switch brands to one associated with social causes.
Additionally, for you, know that 83% of millennial employees are more loyal to a company that helps them contribute to social causes. So, with both those facts, how are you leveraging philanthropy to retain your key stakeholders?
Initially, given the work Percent Pledge does, we figured that Apple article was the kind of "echo-chamber" content I see on Twitter or Facebook. But then I realized that I rarely even open the App Store, let alone consume Apple News.
It was serendipity, and Apple wrote this piece because they understand how important giving is to consumers. It's not like they know something everyone else doesn't. The writing is on the wall everywhere, from the success of Toms to Starbucks partnering with Feeding America, to Lyft's IPO announcement email to users centering around philanthropy. And beyond those examples, Cone Communications researched this very thing, finding that 90% of millennial consumers--and 85% of all consumers--would switch brands to one associated with social causes.
90% of millennial consumers--and 85% of all consumers--would switch brands to one associated with social causes.
Cone Communications also researched how much employees value connection to social causes, finding that 83% of millennial employees would be more loyal to a company that helps them contribute to social and environmental issues. Their findings are intuitive given the big overlap in the employee-consumer Venn Diagram, and they help explain why the Fortune 500 spends $15B annually on giving-related programs. Their findings, in simple terms, reveal how much today's talent cares.
83% of millennial employees would be more loyal to a company that helps them contribute to social and environmental causes.
Given all that, let us ask you this...(and to help you think about this question in business terms, try googling "millennial job hopping" or "cost to replace a full-time employee.")
If 9 in 10 consumers would switch brands to one associated with causes, then how many employees do you think would switch companies to one that helps them contribute to their favorite causes?
We specialize in helping growing companies enable their employees to support their favorite causes. We know you don't have the bandwidth or resources large companies do, so we built simple, trusted, and transparent workplace giving and volunteering solutions personalized to your needs. To learn how we could help you, email firstname.lastname@example.org.