Employee matching gifts can be a valuable tool for companies looking to recruit talented employees. These programs allow employees to donate to their favorite charities, and the company will match the donation up to a designated amount.
So how do employee matching gift programs help with recruiting talented employees?
One of the main benefits of employee matching gift programs is that they help attract and retain employees who are passionate about giving back to their communities and have a purpose behind their efforts. By offering this type of program, companies demonstrate their commitment to social responsibility and philanthropy, which can be a significant factor for job seekers when choosing an employer.
In addition to attracting talent with employee benefits, matching gift programs can also help enhance the company's reputation in the community and among potential job candidates. When companies support the causes that their employees care about, they send a message that they value their employees' interests and are invested in making a positive impact beyond their core business.
Finally, implementing an employee matching gift program can also boost employee engagement and morale. Employees who participate in these programs feel empowered and valued, and they may develop a stronger sense of loyalty and commitment to their employer.
Let’s take a deeper look at each of these reasons for using employee matching gift programs to attract and retain talented employees.
Corporate matching gift programs demonstrate a company’s commitment to social impact and philanthropy because these programs involve companies matching donations made by their employees to eligible non-profit organizations, usually on a dollar-for-dollar basis.
Here are some ways in which companies demonstrate their commitment to social impact and philanthropy through their corporate matching gift programs:
Companies encourage employees to participate in their matching gift program by making it easy and convenient to donate to vetted charities. This can include having a user-friendly mobile application where employees can easily make donations and submit their matching gift requests when they feel inspired rather than waiting to make donations when they’re at a computer.
Removing the friction between being inspired to donate and being able to donate makes it much more likely that employees will participate in the matching program and make a social impact. This is generally a feature of a corporate gift matching program that makes employees feel included, lending to a higher likelihood of retention.
Traditionally, corporate philanthropy embodied a top-down approach, which gave decision-making power to the corporate leaders occupying the c-suite positions. This framework did not lend well to reflecting the diverse views of the company’s entire workforce.
While generally the decisions made by executives were made with noble motivations, they likely did not reflect the diverse interests of the workforce.
For example, while few will argue with donations made to a nonprofit focused on combatting climate change, some employees may be more invested in cancer research because they have firsthand experience.
The modern corporate philanthropy framework gives power to employees and allows them to decide where donation dollars should head towards.
At Groundswell, we believe impact is local. We love to tout the phrase “give where you live” because your dollars make the biggest impact when given to the organizations making a difference in local communities.
An inclusive corporate gift matching program empowers employees to make key decisions on who should receive their support, lending to diverse representation in its application when compared with traditional top-down methods of corporate philanthropy.
Companies that set ambitious goals for their matching gift programs, such as a target dollar amount or percentage of employee participation, have a higher likelihood of building a strong company culture around giving. It also allows companies to showcase their effort both internally and publicly.
An employee gift matching program can help to motivate employees and demonstrate the company's commitment to social impact and philanthropy.
This lends well to attracting employees who are deliberate about their social impact while building trust in the company.
Simply put, any effort a company makes that aligns with corporate social responsibility best practices are generally well received by the public. That same sentiment resonates with candidates for employment, giving companies a leg-up in the war for talent when pitted against other businesses that may not offer the same employee benefit.
When employees use their employee gift matching program, the company’s social impact in the community grows. Companies making a social impact likely build a reputation around generosity and philanthropy. Those companies become known for their impact on the community, likely attracting both customers and talented employees who want to be associated with a socially responsible company.
In a world where social media gives everyone a public platform, reputation is a key component in attracting and retaining hardworking employees who align with those corporate values.
In March of 2023, Groundswell surveyed 600 employees working at companies with more than 50 employees. The results revealed that 64% of employees we polled believe they are more motivated to work more effectively and efficiently when their company’s philanthropy aligns with their values.
The results also revealed that 66% of the employees we polled said receiving a charitable giving stipend would inspire them to be more charitable.
From this study, we can deduce that employees who are offered to participate in an employee gift matching program are more likely to put more effort into their work than those who aren’t offered a program. Additionally, employees are also likely to contribute to a more charitable workplace culture when offered a stipend for their charitable giving.
Subsidizing employee social impact can boost employee engagement and lend to a more involved workplace culture.
Overall, employee matching gift programs can be a powerful tool for companies looking to attract and retain talented employees. By investing in their employees' philanthropic interests and demonstrating a commitment to social responsibility, companies can differentiate themselves in the job market and build a more engaged and loyal workforce.
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