You’ve probably heard that when something is too good to be true, it’s possibly true. For this reason, when employees are told that their employers match their donation or gift to a non-profit organization of their choice, they find it impossible to believe.
Why?
While corporate matching gift programs seem unreal in a world where humanity is slowly draining, these gift programs give a ray of hope.
Unlike other employee benefit schemes that only provide benefits to employees, a matching gift program provides ample benefits to every stakeholder, including the company, employer, and the non-profit organization receiving the fund.
It creates a win-win situation for everyone because it maximizes employee engagement, enhances reputation among customers, and helps a company do something good for the community.
Before moving forward, let’s understand what a matching gift program is.
What is a corporate gift matching program?
Today, matching gifts are a boon and one of the strongest pillars of corporate philanthropy programs. This is especially true when everyone is concerned only about themselves. A corporate gift matching program matches the donation or gift made by the employees.
For instance, if an employee gives one monthly meal pass to a needy, the company would contribute the same. Often, to maximize the impact of this strategy, an employee requests a matching gift from their employer. Under this program, the company matches both gifts and monetary donations.
Due to the unique nature of giving back to society, a corporate gift matching program encourages more employees to conduct philanthropy work. When matching donations, some companies can often match 1:1, 1:2, or even 1:3.
If you’re still unsure about this program and apprehensive about implementing it, click here to learn more about donation matching.
After understanding what these programs are, let’s focus on understanding how these programs can build brand awareness and boost reputation.
How do corporate matching gift programs boost branding and reputation?
Here are a few reasons why these gifts and donation matching programs boost reputation and branding:
Creates a positive company brand
What’s one of the biggest misconceptions that people have regarding a brand? Today, branding is not limited to just logos. People’s perception of your company and its product goes much deeper than a logo.
Previous interactions with a brand, online reviews, and advertising create a positive brand perception. For instance, many reputed companies started a one-for-one program where they donated things such as clothes and shoes to the underprivileged for every pair purchased.
When consumers decide to buy a pair of shoes or clothes, they aren’t deciding based on the company’s logo. Their decision was influenced by how a company-branded itself as a philanthropy leader.
Companies focus on corporate gift matching programs and give away millions in charity because it helps develop a trustworthy brand.
Interesting statistics: 65% of Fortune 500 companies match employee donation, making it one of the most sought-after employee engagement strategies.
Encourages employees to donate
While corporate giving programs help develop a trustworthy brand, businesses that are socially aware have the power to do more than that.
The mindset behind companies to support matching gift programs is to support the community that supports them. This way, local consumers take pride in advocating and buying from your brand.
When employees know they can make a difference in the community, they’re motivated to donate.
Employees who give weightage to philanthropy and are generous in their donations are more likely to work at their full capacity. Also, such programs can create awareness among employees who are not actively involved in such activities.
Interesting statistics: One in every three donors donates a significant amount if they know their company matches or doubles the donation amount or gift provided.
Enhances employee morale
Corporate donations help employees take an active interest in their community and can result in a huge boost in employee morale. Focusing on corporate matching programs can enhance employee involvement and create a positive work culture.
It’s simple! Employees respect companies that care for their community because it makes employees feel good and privileged. It increases the emotional attachment with the company.
Also, when an employee is happy working with a company, they’re likely to share their experience with others. This creates a positive brand image and ensures employees remain loyal for a long time.
Interesting statistics: According to a study, millennials are likely to rate their company’s corporate culture as positive if the company participated in volunteering and philanthropy activities.
Ensures workers are happier
There is ample search that indicates that happier and more engaged employees can benefit the company in numerous ways.
When employees know that a company matches their donation and care for the society in which they live, they are more likely to remain efficient and productive at work.
Such employees maintain a positive relationship with others, and help in improving corporate growth.
Today, to ensure employees remain happier in their workplace, communicate the program to employees, donate money, understand its importance, and give other people opportunities to get involved.
This helps employees develop a sense of pride and ownership in their organization.
Pro-tip: To build a positive work culture and increase employee appreciation, companies should turn their focus outwards toward the community.
Democratizes the giving process
Often, employees want to know why companies don’t spend their entire CSR budget donating money to a few charities. Why do they focus on employee benefits schemes and corporate matching programs?
What benefits can they reap from these programs?
Interestingly, when companies match employee donations, they can forgo the complex screening process of finding charities. Usually, companies don’t prefer to donate money to charities that are incompetent, inefficient, corrupt, or have major scandals.
When a company provides a matching program, it puts the charity search responsibility on their employee. As employees have a say in how their company spends its charity budget, they feel motivated and engaged with their company.
In short, corporate matching is a much easier way of enacting corporate matching. This democratizes the entire charity and philanthropy process. Remember that it takes only one company to inspire a generation and fulfill their social and moral obligations.
Pro-tip: When employers show concern about their employee’s choices, they successfully build a positive work environment.
Attracts and retains top talent
Today, employers valuing CSR activities like matching gift programs are more likely to attract and retain top talent.
This is because employees want to associate themselves with companies that care for the community.
Whether Gen X or millennials, employees give due importance to CSR activities before accepting a position. Companies like Google and Microsoft are renowned for their CSR initiatives, and because of this reason, these companies attract top talent.
Interesting fact: According to research, companies worldwide donate $2 billion to $3 billion through matching programs annually.
How to start matching a gift program?
For creating an effective donation or gift matching programs, it’s essential to follow these steps:
- Start by finding a non-profit organization or creating a fundraiser.
- Encourage employees to donate money generously. Focus on providing different ways to donate because some employees may not prefer cash transactions.
- Regardless of the donation type, focus on matching donations to show your support to your employee. This encourages and motivates employees to make more contributions.
- Finally, focus on monitoring your donation matching program’s effect on your employees. Track how your CSR activities impact the causes supported. This step helps you identify areas of the donation program that require improvement.
Key takeaways
For companies, corporate matching programs help make an impact in the community, keep employees engaged and create a positive public image.
A corporate gift matching program is a leading employee engagement strategy that helps a company retain top talent, engage the existing workforce and attract qualified individuals.
So, to make your donation or gift matching successful, focus on using platforms like Alaya. The platform aims at inspiring employees to make donations and provide more opportunities for donation and fundraising.
Companies can create matching programs using their intuitive platform without overlooking other business responsibilities. Alaya software allows you to manage the gift matching process while keeping a hawk-eye on every philanthropy program that a company engages in.
By shelling out a few dollars, you can engage the entire workforce while working for the betterment of the society.
Are you planning to introduce a donation or gift matching program in your company?
Share your thoughts with us!
About the Author: Priya Jain is a professional copywriter with 8 years of experience. She has an MBA and engineering degree. When she is not writing, you will find her teaching math, spending her day running behind her toddler, and trying new recipes. You can follow her on LinkedIn.