Starting a Philanthropy Program at Your Company- 6 Actionable Tips

Today’s employees are interested in working for companies that give back to the communities they operate within. With that in mind, your business can position itself as an appealing destination for community-minded professionals by creating its own philanthropy program.

On that note, we’ve outlined six simple but impactful tips that can enhance your brand’s image, attract philanthropic workers, and jumpstart your program. If you want to encourage philanthropy within your business, you should do the following:

1. Offer PTO for Volunteer Work

The most passionate philanthropic employees often give up vacation hours to support the causes they care about. While that is admirable, they shouldn’t be forced to choose between supporting the community and taking time for themselves. 

You can clear away such a problem by offering paid time off (PTO) for volunteer work. Setting up such a program is relatively simple: Allocate a specific number of volunteer hours per year to each employee (i.e., 24 hours) and allow them to request days off to volunteer at community events or non-profit organizations. Create a request approval system and encourage your staff to get involved in important charitable events. 

2. Spearhead Company-Wide Volunteer Projects

While some employees take a self-starting approach to philanthropy, others need a little encouragement. And that’s where company-wide volunteer projects come into play.

By organizing these kinds of events, you can encourage your entire workforce to get involved in the community. These projects are great for public relations, as they demonstrate that your business cares about the neighborhoods it operates within and give your team a chance to make a measurable impact on society. 

3. Donate a Percentage of Profits to Specific Causes

Another way to promote philanthropy involves making donations to specific causes or organizations. For instance, let’s say your business is getting ready to launch a new product. In that case, you could donate 10% of your profits from the first week’s sales to feeding the homeless. 

Donating profits is one of the best examples of “putting your money where your mouth is.” As an added bonus, you can generate positive hype around a product, help ensure a successful launch, and encourage repeat purchases long after the donation window closes. 

4. Organize Day Matching Initiatives

Day matching involves matching employee gifts during a specific time frame up to a particular dollar amount. For example, if your business has partnered with a charitable organization, you could host a day-matching donor drive where you match all employee gifts up to $10,000. 

Matching initiatives mobilize your workforce and their families while also making them feel like they are making a greater impact than they would have otherwise, as the company is doubling their donations. 

5. Create a Philanthropy Committee

If you intend to make significant or ongoing donations to charitable organizations, it’s important to establish a process for overseeing these decisions. Creating a philanthropy committee can help you identify organizations that align with your company’s values and ensure that donations are being used optimally. 

When building your committee, focus on balance, ensuring that you do not choose a group of people who are focused on a single cause. Instead, strive to incorporate numerous viewpoints so that the committee can objectively examine each investment opportunity. 

6. Launch a Sponsorship Program

A sponsorship program represents a great tool for getting the company’s name in front of potential customers while also encouraging community engagement. Your business can sponsor a wide range of entities and organizations, including recreational sports teams, schools, or individual students looking to further their education.

If you choose to pursue such an approach, you need to make sure you set a firm budget. You’ll also need to designate a sponsorship committee, which will be responsible for selecting award recipients and ensuring a fair selection process. 

Accelerate Your Philanthropic Journey With AssetHR

With so many options available, it can be tough to decide which path to philanthropy makes the most sense for your business. Fortunately, you don’t have to make the choice alone. AssetHR and our human resources consultants can help you incorporate philanthropy-centric benefits and strategies into your business model. Schedule a consultation with us today to learn more!