Beyond just ‘giving back’, corporate giving is increasingly being seen as a way to engage millennial employees
Companies know that the employer brand and corporate image are assets whose values can be enhanced not only through an effective marketing strategy, but also through corporate social responsibility (CSR) initiatives. Yet, it seems that the latter has yet to reach the top of the corporate agenda, as news headlines continue to highlight the need to promote corporate giving and volunteerism.
According to the Corporate Giving Survey conducted by the National Volunteer & Philanthropy Centre (NVPC) in 2015, three out of four companies donated in the past year, with the median amount per company at $20,000. The top three forms of giving were cash, in-kind donations, and event sponsorship.
Nevertheless, corporate givers admitted that most of their giving efforts are run on an ad hoc basis. Meanwhile, informal volunteerism seems to be on the rise, as seen in the results of NVPC’s Individual Giving Survey, which showed a significant increase in volunteerism from 2014 to 2016.
As the national proponent of giving and volunteerism, NVPC’s mission is to bring all parties – companies, non-profits, public entities, individuals – together in order to develop a thriving “giving ecosystem within Singapore”. Among many initiatives, the organisation in particular recognises the need to appeal more effectively to companies by highlighting the impact that giving can have on employee engagement.
“Employees, especially the millennials, increasingly look to engage in work that is aligned to their values, and is meaningful. They are motivated by work that is purposeful and which can result in impact,” said Quek Shiyun, NVPC’s deputy director of corporate giving. “In conducting corporate giving, companies signal to employees the values they stand for and also demonstrate their commitment to serving a purpose beyond driving profits.”
In order to encourage them to be more structured in their corporate giving initiatives, NVPC will soon launch the ‘Champions of Good’, a status conferred to recognise companies making significant headway in corporate giving.
“Champion of Good companies practice good corporate giving and are committed to influencing and multiplying corporate giving in Singapore,” Quek said. “These companies also proactively advocate and work with their various stakeholders, including employees, customers, suppliers and business partners, to bring collective impact to the community groups they serve.”
The Champion of Good status is part of NVPC's Company of Good programme that exists to inspire and activate companies to do good. Quek told HRD that part of the Company of Good programme involves Champion of Good companies tapping into NVPC’s engagement platforms, which allow them to reach out to like-minded parties with whom they can exchange ideas and collaborate on projects. Sample projects include hosting Giving Network lunches for C-Suite executives and running campaigns on the giving.sg portal to engage employees and customers.
