The modern workplace isn’t what it used to be, and employees aren’t looking for the same old standard benefits that used to attract top talent. While competitive salaries and an extra week of vacation will always be appreciated, today’s workforce is seeking something a little more substantial and meaningful from their employer and workplace.
Enter philanthropy. Giving back to those in need doesn’t have to be something that you only take part in your personal life. More and more brands are seeing the value of incorporating philanthropy into their core operations to keep employees happy, fulfilled, and retained in their roles. Not just for current employees, but for potential new hires who are looking to work for companies that care about more than just their bottom line. At the end of the day, you don’t have to be a charity to embed some philanthropy into the DNA of your business.
Attracting Top Talent
It’s no secret that we’re in a tough labour market with unemployment rates higher than ever leading to increased job market competition. Today’s potential top employees aren’t just drawn in by a paycheck or technology allowances anymore, but want a forward-thinking company that not only recognizes and celebrates something bigger than themselves, also has similar values to them personally.
This is not just a North American trend, but worldwide talent is looking for an organization that aligns with them personally, according to recent LinkedIn survey which shows 59% of respondents in Europe stated they wouldn’t work for a company that doesn’t share their values, and 55% also reporting that making more money wouldn’t make them stray from their morals. The number jumps up even more with US-based workers, with 87% of survey respondents looking for a company that aligns with their morals and values.
The bottom line? Attracting top talent isn’t going to be just a bidding war anymore, but will force companies to look internally at their business ethics and practices to see if they square up against the needs/must-haves of today’s employees.
Keeping Employees Happy Builds Company Strength
How do you keep your employees content and fulfilled in the workplace? It’s not a pizza party or a gift card for a job well done like it used to be. Employees want more meaning in their workplace, and want to know that their employer embeds this into the company’s DNA.
In terms of keeping your employees satisfied and retained at the company, despite economic uncertainty, younger workers in particular are willing to leave their jobs to find a workplace that aligns with their morals, showcasing the next generation will continue to prioritize the ethics of the company they’re receiving their monthly paycheck from.
Figuring out what employees care about on a personal level has a massive impact on employee happiness and enables staff to see a real-world impact, generating a significant amount of pride and satisfaction in their work. When your employees align with the core values of your business, they are more eager to get involved with the company when the opportunity arises, uniting co-workers and forming a strong sense of individual ownership in the success of the brand.
This is something I’ve deeply embedded at Quill, and helps my organizational culture thrive, which I believe is one of the reasons why we have had a 0% voluntary turnover since launching in 2019. Incorporating paid volunteer days, choosing a charity to support every month, and fundraising events are just a few of the strategies that help secure trust and goodwill with my staff, building genuine dedication to the work, setting Quill, and any company, up for success in the long term.
We also found incorporating philanthropy strengthened our team by bonding them together for a common goal based on common beliefs, which reflects similarly to US data stating 64% of employees who currently volunteer said that volunteering with work colleagues strengthened their relationships.
Wondering How to Start?
Through my work as a Board Member of Save the Children Canada, I’ve seen many donors in my network support our fundraisers for Save Canada. Becoming a monthly donor for any dollar amount can make a big difference. I have always been aligned with Save’s core values and I am constantly in awe of the incredible work they are doing on the ground to champion children rights around the globe. What makes me passionate about Save the Children Canada is their dual focused approach. They are oftentimes the first responders to humanitarian disasters like the earthquake in Turkey and Syria, or floods in Pakistan, but they also prioritize foundational programs globally focusing on projects like gender equity, nutrition in children, and reproductive programs. You can become a monthly donor here, or reach out directly to learn more about the incredible work they are doing.
As Co-Chair of #Tech+Biz4SickKids, I have also seen so many incredible businesses put their money where their mouth is by supporting SickKids through our Ambassador Program. We have companies like Meridian, Fasken, DMZ, Osler, Hoskin, Harcourt LLP, TD Innovation Partners and more that are incorporating giving back into their wider business strategy by empowering their employees to give back to causes that matter to them — in this case, SickKids Foundation.
Employers should start by surveying their employees to understand what causes are the most important to them. From there, deploying opportunities where the company can support those specific causes will empower employees to bring their personal philanthropic work into the workplace.
Fatima Zaidi is the CEO of Quill and CoHost, a Board Member of Save the Children Canada, and Co-Chair of #Tech+Biz4SickKids.