Practical Giving - Impact of Charity on Work Life
In 2017, corporate charitable giving increased by 8% to almost $21 Billion. At this level, donations from corporations accounted for almost 5% of the total annual donated funds in the United States. In light of this increase in corporate giving we thought it would be interesting to discuss how this change may be affecting the workforce behind corporate philanthropy.
The statistics below come from a report by Nonprofitssource.com reviewing 2017’s annual charitable activity. Giving that amounted to $410 billion given in the U.S. So let’s see what the report says about corporate giving activity:
Approximately $5,000,000,000 is raised through workplace charitable initiatives annually.
90% of the companies surveyed indicated that partnering in giving with a reputable nonprofit enhanced their company brand and improved the company’s ability to impact their community.
60% of companies within the United States provide paid time off for volunteerism among their employees and an average of 30% of the total workforce volunteers for charities.
While the charitable activity of corporations is of interest, maybe the most intriguing aspect of charitable activity by businesses is the impact on their employees. Take a look at these statistics found in this same report:
92% of HR executives believe that contribution of business skills to charity is an effective way to improve “leadership and broader professional skills” among their employees.
88% of companies surveyed indicated that having an engagement program for their employees assisted in attracting and retaining talent in their workforce.
On average 9% of employees engaged in matching gift programs offered by their employers. 84% of the participants in the survey indicated that they were more likely to participate when a matching program was offered in a charitable initiative.
88% of Millennials view their jobs as more fulfilling when they have an opportunity to positively impact their communities and the world.
Employees who engage in corporate giving programs tended to stay with their companies 75% longer than employees who did not engage.
So we can see that giving within the corporate environment has a profound impact on the experience of the workforce and on employees’ work life. As companies continue to realize the benefits in staff engagement, employee retention and overall positive culture generated through corporate giving programs, we can expect that the business world will continue to grow as a significant contributor to charity within our own country and around the world. At eMite we are excited about this development and look forward to working with companies to engage employees in their own charitable initiatives. If you would like to see how eMite can help your company along these lines please reach out to us. We love spreading the Joy of Giving!