Employee Turnover And Retention Briefings Abstract: 17
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Strategic Charitable Giving Boosts Employee Retention [USA Today] Wednesday 01/07/04 11:39 PM
Charitable giving can benefit both the charities that receive and the companies that give. Giving has often been thought of only as a community service program. Today, companies are leveraging their giving as an aid to recruiting and retention.
Companies can create a charitable giving program that improves employee retention by implementing the following steps:
- Create a "Social Responsibilty Statement" that outlines the kinds of programs that the company would like to support.
- Create a budget.
- Set up a committee of volunteer employees who will select charities to support based on the Social Responsibility Statement.
- Allow the employees on the committee to determine budget allocations of selected charitable organizations.
- Provide employees with both financial resources and company time to participate in chosen charitable programs.
Such a program increases employee engagement and encourages employees to speak highly of the company. The outcome of involving employees in your charitable giving program includes improved employee morale, increased employee retention and the opportuntity to note skills in employees previously overlooked.
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