Effectively reporting your organization’s corporate social responsibility efforts is an important component to adding value to a triple bottom line: people, planet and profits — or your social, environmental and financial impact.
We speak with companies every day that are underutilizing the power of their corporate giving. That’s why the concept of Giving IQ is so important.
Giving IQ is a cumulative measure of how innovative, efficient and effective your company is in its philanthropic efforts. Just like with a regular “intelligent quotient," a higher Giving IQ means your company stands out in a number of ways:
- It has a strong reputation for doing good.
- It is actively engaging employees in the giving process, both in volunteering and through monetary support.
- It is contributing to the causes that matter most to its employees, customers and community.
A company may have the best intentions when it comes to social impact, but that doesn't necessarily equate to a high Giving IQ. Employee participation in corporate giving programs stands at an average of 9 percent. And as much as $10 billion in corporate matches gets left on the table each year, largely because the process of securing the match is time-consuming and cumbersome. What employee wants to fill out a bunch of paperwork or go through pages of a website to make an easy credit card donation?
So how do you raise your Giving IQ and improve your CSR efforts? Here are key questions uBack asks to help companies measure and increase their Giving IQ:
- How many of your employees are participating in a given campaign, compared to all campaigns?
- How many employees are taking advantage of match opportunities?
- If your employees aren’t leveraging the company match, what is the #1 reason why?
- How many volunteer hours are being tracked?
- Do you know what causes your team members are volunteering for or donating to?
- How are you leveraging those insights to guide your philanthropic efforts?
- How does your company compare to your chief competitors when it comes to giving?
As with everything your company does, it pays to be strategic when it comes to your corporate giving. Your Giving IQ is a great place to start.
Atom 