In the Wall Street Journal this past weekend, Harvard Business School Professor Michael Norton offered some advice on how companies can get more out of their corporate giving programs. And when HBS professors talk, we’re inclined to listen.
Norton noticed a problem when it comes to top-down corporate giving: “Because chief executives often decide which cause is supported, customers and workers have no say in where the dollars are donated. Few might object to a company donating to save the manatees, but what about whale lovers who wish the company would give to their preferred sea mammal?”
To fix that, Norton recommends a shift, “from an informing strategy (‘look what we did’) to an involving strategy (‘help us do it’).”
He has the research to back that up: When he and his fellow researchers changed the policy of one Australian bank to give employees a role in deciding what causes the bank would contribute to, they found the employees were happier and reported higher job satisfaction.
The trick is, how do you find out what causes your employees care about?
That’s where data comes into the equation. You need insight into where your employees are giving, where they donate their time. Luckily, there are tools available that make that data easily accessible.
A mobile giving platform can offer key insights into where your company should direct its charitable contributions and giving programs to achieve maximum engagement – and that coveted increase in employee satisfaction and retention. You’re also likely to amplify your community impact, which strengthens your brand and makes you a more attractive company when it comes to bringing in top talent.
“As corporate-charitable partnerships proliferate, these small shifts in strategy have the potential to benefit companies and charities alike,” Norton writes.
And the easier you can make those shifts, the better.
uBack can offer critical insight into where and how your employees are giving.
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