Why HR should facilitate workplace giving initiatives

Studies have found that young people favour one employer over another if they offer workplace giving

Why HR should facilitate workplace giving initiatives

Inspired by young professionals who are looking to make a difference in the community, GoodCompany has launched the 50 Best Workplaces to Give Back campaign in Australia in 2018 Campaign.

Indeed, companies of all sizes are increasingly embracing initiatives such as generous community investment strategies, workplace giving programs, sustainability initiatives and volunteering leave.

“The 80’s would have us believe that ‘greed is good’. Fortunately, today most of us agree that ‘good is good’,” said Ash Rosshandler, CEO of GoodCompany.   

Rosshandler told HRD that there has been a societal shift in focus from ambition (focusing on our goals, achievements, status and possessions) to meaning (focusing on fulfilment, joy, purpose and happiness).

“Consequently, many professionals are looking for workplaces with meaning,” he said.

“But it’s not easy to find out which companies offer paid time off time for volunteering, employee giving programs, corporate matching and other ways to give back and make a difference.

“To solve this problem, we’ve launch the 50 best workplaces to give back campaign.”

So how do workplace giving initiatives benefit the employer?

According to Rosshandler, there are four key benefits for companies.

First, studies have shown that time off for volunteering is the number one tool for staff engagement. Engaged staff give better customer service, generate more sales and are more productive.

Secondly, workplaces that clearly demonstrate a commitment to corporate giving attract likeminded, generous, empathetic, grateful and thoughtful employees. These pro-social behaviours create a winning culture for these employers of choice.

The third key benefit is retention. Staff who are involved with workplace giving, volunteering, donating and fundraising have been found to be more loyal to their company and more likely to stay. This leads to significant savings in staff turnover which leads to savings in recruiting, onboarding and training.

“And finally, a generous company leads to better customer attraction, loyalty and advocacy.”    

Rosshandler added that most millennials want to work for ethical companies, and almost half (42%) want to work for an organisation that will have a positive impact on the world.

Moreover, studies have found that young people favour one employer over another if they offered workplace giving.

“By 2025 millennials will make up 75% of the global workforce which will be a game changer for companies that give back and possibly the end game for companies that don’t,” said Rosshandler.

Applications close Friday 27th April at midnight. Many large companies (ANZ, AGL, NAB and Flight Centre), medium companies (Corrs Chamber and Netwealth) and small companies (Small Giants and Stone & Wood) have entered - but there is still time. 

To enter, click here.

Recent articles & video

'Claustrophobic' employee files appeal against face mask policy

Employers call for consensus over 'soaring' energy prices

Victoria allocates $300 million more to workers compensation scheme

How to develop executive presence in your leadership team

Most Read Articles

CEO gets five-figure fine over workplace safety failure

Australian Business reacts to Labour win

'Complex' sexual harassment rules confuse employers – lead to hefty damages