As organizations continue to add charitable giving programs to their benefits platform, recent research1 conducted by Fidelity Investments and the Association of Corporate Citizenship Professionals (ACCP) found that three quarters (75%) of companies surveyed indicated that giving back to the community was one of the most important reasons to offer a workplace giving program. This is compared to nearly half of the companies surveyed (49%) that ranked the company’s mission/values as one of the most important reasons to offer a workplace giving program, and 39% of companies that cited employee retention and engagement as one of their top reasons.
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“As more organizations recognize the benefits of offering a workplace giving program to their workforce, we expect we’ll continue to see these programs evolve to a ‘must have’ offering within a company’s overall benefits platform”
The Fidelity/ACCP study was designed to provide insight on how companies manage these programs, which enable employees to donate their time and money to charities as an employee benefit and are responsible for approximately $5 billion in donations2 each year. The survey results also examine how to best influence employee participation and the overall benefits the companies hope to achieve.
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“In today’s business environment, organizations understand that being good corporate citizens can play a key role in many areas that contribute to the organization’s internal and external success,” said Jesse Moore, Vice President, Fidelity Workplace Giving and Enablement. “We’ve also seen that workplace giving platforms can be an effective way to help employees make an immediate impact on the causes they support within their own community. In fact, in Q2 of this year we’ve seen a four-fold increase in charitable giving through Fidelity’s Workplace Giving platform over the previous quarter, with more than $3.3 million in donations to support a range of issues, including COVID-related causes and social justice initiatives.”
Carolyn Berkowitz, president and CEO of ACCP, has seen similar trends across their membership. “Companies understand that now more than ever, social and economic issues are important to their workforce and other stakeholders. In just the first six months of this year we’ve seen an unprecedented level of support and engagement for these issues, and companies want to create that connection with their employees, customers and communities.”
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