Today's workforce is struggling to strike an important balance: While people need to make a living in an unpredictable economy, they also have a strong desire to do good and hope that their work has meaning beyond just a paycheck.
Employers too come with their own set of priorities to balance: the capacity to be with profit at a level that is enough to see business growing and progressing, while also addressing what the public and business leaders deem these companies to actually have - that moral obligation calling for that giving back to communities giving them their profits.
Fortunately, these goals are not mutually exclusive. These two balancing acts can complement each other by leveraging the power of corporate giving programs as an effective strategy to drive employee recruitment.
Studies have shown that skilled employees in today's workforce have different priorities from those in years past. Rather than focusing solely on earning the highest salary or getting the best benefits package, employees are also interested in what sort of workplace culture their prospective employer has. They want to know about important factors such as what level of autonomy and empowerment the company offers them, and to what extent the company's mission and values coincide with their own.
Bearing in mind those things, several job seekers particularly Millennials fresh out of college bearing technical knowledge that is highly preferred are actually choosing employers with socially active mindsets who are able to show commitment to causes over offers of slightly higher wages.
You will know that your employee volunteer program is viable when it offers paid time off to volunteer should an employee be interested to pursue a cause in the local community and potential employees with existing volunteer experience may be attracted as well.
Similarly, a simple payroll deduction arrangement that allows employees to donate money to a worthy cause without having to budget the money out themselves can appeal greatly to a potential employee who wants to do good in the community but who would prefer to have it done without a huge time commitment.
Needless to say, no amount of corporate giving will entice a potential employee if your compensation package is not similar to other companies in your industry. But on the other hand, if you are able to offer salary that is competitive joined with benefits package, there is that possibility for it to make a trademark by use of those humanitarian corporate programs which can be a strategic and powerful means to involve employees.
A company with such a positive reputation tends to attract the attention of more potential employees, giving the company ample opportunity to choose the best and brightest available. Cause marketing attracts more customers as the company's positive reputation spreads via online media and word-of-mouth.
A company committed to a long term corporate giving program that involves its employees will also enjoy a much higher level of employee engagement, increasing productivity and profitability while boosting morale.
If a company is able to have a culture of philanthropy, this comes as a highly preferred environment amongst new recruits as they can join and start immediately with committing to the organization which they will see from those who have been there long before them. This appears to be self-replicating and of a synergistic pattern proving to only grow more powerful through time.
Employers too come with their own set of priorities to balance: the capacity to be with profit at a level that is enough to see business growing and progressing, while also addressing what the public and business leaders deem these companies to actually have - that moral obligation calling for that giving back to communities giving them their profits.
Fortunately, these goals are not mutually exclusive. These two balancing acts can complement each other by leveraging the power of corporate giving programs as an effective strategy to drive employee recruitment.
Studies have shown that skilled employees in today's workforce have different priorities from those in years past. Rather than focusing solely on earning the highest salary or getting the best benefits package, employees are also interested in what sort of workplace culture their prospective employer has. They want to know about important factors such as what level of autonomy and empowerment the company offers them, and to what extent the company's mission and values coincide with their own.
Bearing in mind those things, several job seekers particularly Millennials fresh out of college bearing technical knowledge that is highly preferred are actually choosing employers with socially active mindsets who are able to show commitment to causes over offers of slightly higher wages.
You will know that your employee volunteer program is viable when it offers paid time off to volunteer should an employee be interested to pursue a cause in the local community and potential employees with existing volunteer experience may be attracted as well.
Similarly, a simple payroll deduction arrangement that allows employees to donate money to a worthy cause without having to budget the money out themselves can appeal greatly to a potential employee who wants to do good in the community but who would prefer to have it done without a huge time commitment.
Needless to say, no amount of corporate giving will entice a potential employee if your compensation package is not similar to other companies in your industry. But on the other hand, if you are able to offer salary that is competitive joined with benefits package, there is that possibility for it to make a trademark by use of those humanitarian corporate programs which can be a strategic and powerful means to involve employees.
A company with such a positive reputation tends to attract the attention of more potential employees, giving the company ample opportunity to choose the best and brightest available. Cause marketing attracts more customers as the company's positive reputation spreads via online media and word-of-mouth.
A company committed to a long term corporate giving program that involves its employees will also enjoy a much higher level of employee engagement, increasing productivity and profitability while boosting morale.
If a company is able to have a culture of philanthropy, this comes as a highly preferred environment amongst new recruits as they can join and start immediately with committing to the organization which they will see from those who have been there long before them. This appears to be self-replicating and of a synergistic pattern proving to only grow more powerful through time.
About the Author:
Sebastian Troup likes writing about corporate social responsibility. For more details about philanthropic solutions for businesses and non profit organizations, or to get help setting up corporate giving programs, please check out the Truist site today.
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