At first glance, it seems like employee giving programs and turnover have little to do with each other, but recent survey data might surprise you. One study of over 2million employees showed that turnover was reduced by approximately 36% for employees who volunteered time, 39% for employees who donated money, and 57% for employees actively engaged in both company giving and volunteering efforts. Another study revealed that organizations that encourage and promote volunteering see a boost in morale, workplace atmosphere, and brand perception. It also discovered that 89% of employees think organizations that sponsor volunteer activities offer a better overall work environment.
Successful Employee Giving Programs
Some of the most successful companies around the world have employee giving programs that are considered keystone benefits to their employees. Microsoft’s employee giving program matches each employee’s donations of money, products, and time to nonprofits up to $15,000 annually. The match of volunteer time is $25 per hour, and money donations are match dollar for dollar.
The American Gaming Association reports that 86% of members have a formal employee volunteering program. Ninety-one percent of its members say they have some employee volunteering even if it’s not a structured program. The AGA reports that giving back to the community is a strong driver for employees, and their members indicate that, on average, employees volunteer for 14 hours per year.
Even smaller companies like S3 Management Group have programs to encourage volunteerism. We allow up to one week of paid time off for employees who want to volunteer in their local communities, as well as support our service projects. We find that serving our community not only helps the organization, but it strengthens our ability to function as a team.
Starting a Formal Employee Giving Program
You don’t need to break the bank to start a formal employee giving program. Microsoft started its employee giving program with a $17,000 United Way campaign.
Before you launch one, ask your employees what matters to them. You’ll want a program that’s flexible and allows each employee to feel purposeful in their efforts. Also, make sure that your program aligns with your organization’s mission, vision, and values. Then, get started and encourage participation. Once you see the impact volunteering has on your team, you’ll see that your Tribal organization and community aren’t the only benefactors of your employee giving program.