First Midwest BankFirst Midwest Bank logoArrow DownIcon of an arrow pointing downwardsArrow LeftIcon of an arrow pointing to the leftArrow RightIcon of an arrow pointing to the rightArrow UpIcon of an arrow pointing upwardsBank IconIcon of a bank buildingCheck IconIcon of a bank checkCheckmark IconIcon of a checkmarkCredit-Card IconIcon of a credit-cardFunds IconIcon of hands holding a bag of moneyAlert IconIcon of an exclaimation markIdea IconIcon of a bright light bulbKey IconIcon of a keyLock IconIcon of a padlockMail IconIcon of an envelopeMobile Banking IconIcon of a mobile phone with a dollar sign in a speech bubbleMoney in Home IconIcon of a dollar sign inside of a housePhone IconIcon of a phone handsetPlanning IconIcon of a compassReload IconIcon of two arrows pointing head to tail in a circleSearch IconIcon of a magnifying glassFacebook IconIcon of the Facebook logoLinkedIn IconIcon of the LinkedIn LogoXX Symbol, typically used to close a menu
FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Sustainable Growth
Get Insights

Get monthly ideas delivered right to your inbox.

Subscribe for Insights

For Your Business Kamini Tiwari August 19, 2024

Simple steps to make doing good part of your company identity

Companies that foster a culture of community, employee passion and purpose can unlock a powerful competitive advantage. By empowering employees to pursue their passions inside and outside the organization, businesses can not only boost employee engagement and retention but also create a positive ripple effect that benefits society as a whole.

In addition to helping you attract and retain employees, integrating an effective social impact strategy can help you nurture a culture of social responsibility that can distinguish your company and add an even greater sense of fulfillment to your purpose. It can do so while inspiring employees, partners, peers, and customers to amplify and expand on the good you’re doing with their own efforts.

Here are some simple steps to make doing good part of who you are as a company. These steps can help transform your charitable and community-building initiatives into a deeper part of your company identity and help actualize your commitment to making a positive impact.

Convert part of your rewards and recognition budget

Consider allocating a portion of your rewards and recognition budget to social impact initiatives. Some companies, for example, provide employees with a charitable-giving component—such as a donation to a cause of their choice—as part of their service anniversaries.

Paid volunteer days

Consider offering paid volunteer days for employees to support causes they’re passionate about. Giving employees a couple extra days off each year for volunteering can be a huge morale booster while also being a great way to give back to your employees’ communities.

Partner with vendors that align with your values

When choosing vendors, consider their social impact initiatives and values. There are any number of engaging ways you can demonstrate your own company values while supporting diverse businesses. You can, for instance, customize gift options for employees to include products created by businesses whose identity and/or charitable initiatives align with your mission and values.

Donation matching

If you already have an annual budget for charitable donations, use some of it to engage employees in supporting the company-identified charities through employee gift matching. For example, if your company is planning to donate to The Trevor Project in support of LGBTQ+ youth or to JDRF in support of juvenile diabetes research (or to one of thousands of other fantastic charities), consider matching employee donations up to a certain amount, and/or during a specific time period, to that same charity.

Put your mouth where your money is

Identifying causes your customers and employees are passionate about, and then making corporate contributions, is of course a great way to lean in and make a difference. Sometimes it also pays to lean in on leaning in. You can amplify your charitable efforts by communicating across your channels about the causes you support, and encourage your employees to spread that awareness on their own, if they’re so inclined.

Gamify your external giving strategies with employees

If you have a charitable fundraising campaign with your audience or customers, find ways to engage employees beyond simply announcing the activation. Internally celebrate employees who publicly share their positive personal perspectives on the initiative. This can be in a company newsletter or other communication channel. Create a quiz or poll for employees to vote on how much the campaign will raise and reward the winner with a donation to a charity of their choice. Or create a fun internal competitive event, such as a trivia competition, and reward the winner(s) with a donation to the designated charity in their name.

Make a positive impact

Find relevant opportunities to make a positive impact on any cause or issue your employees care about. If your employees have shown concern or taken independent initiative around global warming, for example, then consider offsetting your employees’ carbon footprint with a donation to an environmental charity during Earth Month.

There are limitless ways to support employees in pursuing their charitable passions while reflecting the community at the heart of your company. By dedicating resources and attention to causes that resonate with your employees and customers, you’ll not only forge meaningful connections, but also elevate your company’s identity and make a tangible impact on the world. You’ll also reap the rewards of a more engaged, motivated, and purpose-driven workforce. 

 

This article was written by Kamini Tiwari from Fast Company and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to legal@industrydive.com.

Subscribe for Insights

Subscribe