Giving Benefit to Work Life
Report on corporate charity
Corporate charitable giving increased in the year 2017 by 8% to almost $21 Billion. At this level, donations from corporations accounted for nearly 5% of the total annual donated funds in the United States. In light of this increase in corporate giving, it would be interesting to discuss how this change may affect the workforce behind corporate philanthropy.
Giving statistics show
The statistics below come from a report by Nonprofitssource.com reviewing 2017’s annual charitable activity. Total philanthropic activity back in 2017 amounted to $410 billion in the United States. So let’s see what the report says about corporate giving activity:
- Approximately $5,000,000,000 was 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.
Also about corporate giving
Another intriguing aspect of charitable activity by businesses is its impact on their employees. Take a look at these statistics found in this same report:
- 92% of HR executives believe that contributing business skills to charity effectively improves “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 charitable initiative includes a matching fund opportunity.
- 88% of Millennials view their jobs as more fulfilling when they can 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.
Corporate giving will grow
So we can see that giving within the corporate environment profoundly impacts the workforce experience and 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 country and worldwide. We are excited about this development at Mite and look forward to working with companies to engage employees in their charitable initiatives. If you would like to see how Mite can help your company with your Corporate Giving Program, please get in touch with us. We would be honored to serve you.