Employee giving programs are a powerful way of maximising your personal charitable giving. Charities gain reliable, regular funds and by making pre-tax donations to charities through workplace giving, the impact of your donations can go much further. In fact, with employer matching in place – where every dollar that you donate is matched by your employer – the economic impact of every dollar can be be multiplied by up to a factor of FOUR.
So, for every dollar you donate, your favourite charities can be four times better off.
- Employer matching doubles your contribution
- Charities traditionally spend up to 25% of their income on fundraising, so you are saving them acquisition, retention and marketing funds
- Regular, bulk payroll donations reduce administration costs and allow for more effective planning
But despite continuing growth in workplace giving, many organisations have yet to put a formal program in place. The Australian Charities Fund explains that these programs have massive impact – not just on charities who receive the philanthropic funds – but also on employers and individuals. For example:
- Individual worker philanthropy: People are more confident that their donations make a difference, feel more involved with their community and benefit from the tax effectiveness of their donations
- Corporates: Employers can build effective and useful community partnerships and boost employee morale. Workplace giving programs are low on cost and administration and simultaneously help attract and retain quality talent
But how do you have a genuine, engaging discussion about staff giving?
The Queensland University of Technology took an innovative approach and tapped their own school of performing arts to create a flashmob during staff Christmas celebrations. The aim was to get people to think about the future – the future of students and of the university. Not only were students involved, so were lecturers, tutors, professors and heads of schools. There was wide engagement across all stakeholder groups.
This is important to note, because if you want a lasting impact, you need to move beyond talking, to doing. Your ideas have to have a life and an impetus to drive participation. And while we all love the idea of conversation, we also know that talk is cheap, and at the beginning of a new year, perhaps we should all be looking towards a new future.