Author: Ryan Scott
The Best Gift You Can Give Your Employees was originally posted on Forbes.
Telecommuting, competitive pay, stock options, extended vacation time, a gym, catered lunches and other attractive benefits will get talented recruits to come work for company. But once they’ve arrived, how do you keep them?
Much of the time, the cause to stay is…cause.
Human resources professionals increasingly recognize that amongst the most important components of any employee retention strategy are diverse corporate volunteer programs that reflect the values of employees. Implementing an internal employee giving and corporate volunteer platform with a variety of non-profit choices allows workers to conveniently support the causes that are near and dear to their heart.
And when a company offers matching contributions for every donation an employee makes, the message the company sends to the employee is “I care about what you care about.”
A matching gift program benefits the cause, the employee (who feels supported) and the employer (who benefits from increased employee engagement.) For non-profits, studies have shown that matching gifts serve as an incentive in fundraising appeals and lead to increased donations. And for employees, a matching gifts program is so attractive that it can be seen as part of an employee’s total compensation package.
These benefits have made matching gift programs increasingly popular. In their 2011 survey of corporate giving, the Committee Encouraging Corporate Philanthropy (CECP) found that in 2010, 94% of companies offered at least one matching-gift program averaging $1.70 million in total matching funds. From 2009 to 2010, 57% of companies raised the dollar amount donated to matching gift programs.
Businesses can match their employees’ charitable gift-giving in many ways. The most common approach is simply by matching, dollar for dollar, a single donation or recurring donations, such as payroll deductions. A company can also match the full amount raised by staff through a company fundraiser. Companies can also approach matches creatively, by adopting matching concepts such as ‘dollars for doers,’ in which companies make a donation to match every hour an employee has volunteered for a charity.
To read the complete article, please visit www.forbes.com.*
*Photo Courtesy of One Planet Living in Sutton.