In a study conducted by Elance-oDesk, it was found that millennial employees care more about the people they work with, good mentorship and exciting work than the money they earn. So if we are now faced with a generation of employees who care more about being proud for the brand they work for than the paycheck at the end of the month, shouldn’t companies work on a CSR strategy to retain them?
So what does this MEAN for the future of CSR? That employees now feel they are one and the same of the company they work for. Research has shown that millennials want to give back and become involved in good causes. The Millennial Impact Report has found in its years of studying the millennial that they:
- Are passionate about giving back and view the workplace as another means of doing so
- Greatly prefer giving through a specific online donation portal
- More than 50% of millennials were influenced to accept a job based on the company’s involvement with causes.
Millennials rely heavily on sharing online. So why not include charitable donation in this? Give employees the ability to feel proudly involved in the CSR tactics of the company, and what better way than being a company who encourages charitable donation through payroll giving. Not only does this benefit the company, it allows millennial employees to feel like they are making a difference and improving lives to a cause that matters to them. The 2014 Millennial Impact Report concluded that it’s participants felt it is no longer the case for a company to simply be ‘doing good’, but instead give the employees a chance themselves to do good and make a difference within their workplace.
Get to know the millennial employee- they will make up over 50% of the workforce by 2030*
Millennial employees enjoy a sense of ownership, and wish to feel like a part of something. So by adopting a policy of encouraging charitable donation and fundraising for charities that THEY get to choose, you are saying to your employees “we care about what you care about.”
Who wouldn’t want to Tweet about their bosses doing that?
*Source: Liquid Agency
If you wish to learn more about payroll donation, visit www.yellowharbour.com.