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While Generation Y or the Millennial generation often have a reputation for being a bit self-centered, these young adults in their 20s and early 30s actually are quite civic and socially oriented perhaps more than their older generations, as well as being very tech savvy. They are the future business leaders, and companies should strive to engage and attract these young people. Instilling a culture of charity and philanthropy within the company can be a way to do this.
Working for a company with a corporate mission to help the people in the community rather than just receiving their paychecks can be their goal, and research shows this. Research studies show that 53 percent of young workers prefer work where they can make an impact and where they can get happiness, and 72 percent of the graduates who are about to go into work agree to this, and this is from a poll of 1,726 college students and new graduates conducted by a nonprofit organization Net Impact. In this study, 58 percent of the young Millennials will accept to a pay cut of 15 percent, just to achieve the goal.
Another study by 2012 Millennial Impact Report indicates that 63% of Millennials volunteered for a nonprofit in 2011 and 90% of survey respondents said they expected to volunteer as much or even more in the following year. Since volunteering is very much a part of the Millennial lifestyle, companies would be wise to include corporate philanthropy when developing a strategy for employee engagement.
Employees can get inspired in their work when there is the spirit of giving and volunteering in the workplace. Employees can feel that they can help their company make a difference in society, instead of them thinking that they are just ordinary employees.
Charitable and philanthropic activities can help inspire employees, and there are four key areas to this.
Productivity: Productivity can increase when employees are inspired and engaged. Ethics: Employees can make good decisions if they are involved in humane and selfless activities. Gratitude: When employees are given the chance to give back to society, they will ever be grateful. Pride: Employees will be proud of their company when they are proud of their work.
Offering Volunteer Paid Time Off or VPTO to young Millennials can be a way to attract them, and this is a way that companies can implement. Volunteering during working hours is the way employees are given time off. Volunteering and serving the aged and homeless are done by employees and this is seen as giving them up to 16 hours of paid time each year for these activities, as some US Bank employees have done. Letting employees do volunteer work is less costly than replacing workers when they quit, and this is seen by many business leaders.
One step further to this type of program was utilized by IBM. Volunteer assignments to some developing countries, up to a month, were given to some select employees. This is IBM's Corporate Service Corps, a group of 500 select employees selected from thousands, and this is often called the modern corporate version of the Peace Corps. This project produced employees that are more skilled, loyal, and collaborative, while also the more civic oriented IBM employees, where the project cost $250,000 each and producing good value to the countries the aid is given. More global business leaders doing different market research also were identified by IBM through the project and also emerging markets identified.
Companies who want to recruit Millennials need to offer perks like attractive employee engagement programs in order to stay relevant and competitive. By developing a culture of philanthropy in the workplace, you'll attract socially conscious Millennials, who could help your business become even better as they become your company's next generation of leaders.
Working for a company with a corporate mission to help the people in the community rather than just receiving their paychecks can be their goal, and research shows this. Research studies show that 53 percent of young workers prefer work where they can make an impact and where they can get happiness, and 72 percent of the graduates who are about to go into work agree to this, and this is from a poll of 1,726 college students and new graduates conducted by a nonprofit organization Net Impact. In this study, 58 percent of the young Millennials will accept to a pay cut of 15 percent, just to achieve the goal.
Another study by 2012 Millennial Impact Report indicates that 63% of Millennials volunteered for a nonprofit in 2011 and 90% of survey respondents said they expected to volunteer as much or even more in the following year. Since volunteering is very much a part of the Millennial lifestyle, companies would be wise to include corporate philanthropy when developing a strategy for employee engagement.
Employees can get inspired in their work when there is the spirit of giving and volunteering in the workplace. Employees can feel that they can help their company make a difference in society, instead of them thinking that they are just ordinary employees.
Charitable and philanthropic activities can help inspire employees, and there are four key areas to this.
Productivity: Productivity can increase when employees are inspired and engaged. Ethics: Employees can make good decisions if they are involved in humane and selfless activities. Gratitude: When employees are given the chance to give back to society, they will ever be grateful. Pride: Employees will be proud of their company when they are proud of their work.
Offering Volunteer Paid Time Off or VPTO to young Millennials can be a way to attract them, and this is a way that companies can implement. Volunteering during working hours is the way employees are given time off. Volunteering and serving the aged and homeless are done by employees and this is seen as giving them up to 16 hours of paid time each year for these activities, as some US Bank employees have done. Letting employees do volunteer work is less costly than replacing workers when they quit, and this is seen by many business leaders.
One step further to this type of program was utilized by IBM. Volunteer assignments to some developing countries, up to a month, were given to some select employees. This is IBM's Corporate Service Corps, a group of 500 select employees selected from thousands, and this is often called the modern corporate version of the Peace Corps. This project produced employees that are more skilled, loyal, and collaborative, while also the more civic oriented IBM employees, where the project cost $250,000 each and producing good value to the countries the aid is given. More global business leaders doing different market research also were identified by IBM through the project and also emerging markets identified.
Companies who want to recruit Millennials need to offer perks like attractive employee engagement programs in order to stay relevant and competitive. By developing a culture of philanthropy in the workplace, you'll attract socially conscious Millennials, who could help your business become even better as they become your company's next generation of leaders.
About the Author:
Sebastian Troup loves writing about corporate social responsibility companies. For more information about philanthropic solutions for businesses and non profit organizations, or to find some employee giving campaign ideas, please go to the Truist.com website now.
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