The young adults of today, called Millennials or Generation Y, are sometimes being called by many as ego centered and narcissistic. However, these are extremely tech savvy adults who are also more civic minded than their elders and having a strong sense of community. For many companies, engaging and getting the services of these young adults, the future business leaders, can be an advantage. A strategy is through spreading a culture of generosity within the company.
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.
There is also a study that shows 63 percent of Millennials volunteered for nonprofit in 2011 and 90 percent of these individuals agreed to volunteer even more the following year, and this from a study in the 2012 Millennial Impact Report. Developing corporate strategies in getting employees should be done by companies, and this should include corporate charity and philanthropy, because volunteerism is a strong part in the lifestyle of Millennials.
Workplace giving and volunteering activities help employees invest in their work. Instead of being a cog in the wheel, they are individuals who help their company make a difference in the community.
There are four key areas that philanthropic activities help build employee engagement:
Productivity: Engagement increases productivity. Ethics: Employees who are involved in altruistic endeavors are likely to make ethical decisions. Gratitude: Employees are grateful when employers provide opportunities to allow them to give back to the community. Pride: When an employee is proud of their work, they are proud of their company.
A strategy that companies have found successful with attracting young Millennials is through giving VPTO or Volunteer Paid Time Off as incentive. These employees are given time off with pay when volunteering during working hours. There are US Bank employees who can get up to 16 hours of pay in a year for their volunteer activities to the homeless, aged people, and even to kids. Companies find it less costly for their employees to do volunteer activities than replacing them if they decide to resign.
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.
Offering attractive employee programs for companies to be competitive should be done by companies, for them to get the young Millennials. Attracting the civic and socially oriented Millenials who can help the business achieve better can be done, and these people can be the next generation business leaders, when companies develop a culture of charity and philanthropy within.
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.
There is also a study that shows 63 percent of Millennials volunteered for nonprofit in 2011 and 90 percent of these individuals agreed to volunteer even more the following year, and this from a study in the 2012 Millennial Impact Report. Developing corporate strategies in getting employees should be done by companies, and this should include corporate charity and philanthropy, because volunteerism is a strong part in the lifestyle of Millennials.
Workplace giving and volunteering activities help employees invest in their work. Instead of being a cog in the wheel, they are individuals who help their company make a difference in the community.
There are four key areas that philanthropic activities help build employee engagement:
Productivity: Engagement increases productivity. Ethics: Employees who are involved in altruistic endeavors are likely to make ethical decisions. Gratitude: Employees are grateful when employers provide opportunities to allow them to give back to the community. Pride: When an employee is proud of their work, they are proud of their company.
A strategy that companies have found successful with attracting young Millennials is through giving VPTO or Volunteer Paid Time Off as incentive. These employees are given time off with pay when volunteering during working hours. There are US Bank employees who can get up to 16 hours of pay in a year for their volunteer activities to the homeless, aged people, and even to kids. Companies find it less costly for their employees to do volunteer activities than replacing them if they decide to resign.
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.
Offering attractive employee programs for companies to be competitive should be done by companies, for them to get the young Millennials. Attracting the civic and socially oriented Millenials who can help the business achieve better can be done, and these people can be the next generation business leaders, when companies develop a culture of charity and philanthropy within.
About the Author:
Sebastian Troup likes blogging about corporate social responsibility companies. For additional information about philanthropic solutions for businesses and non profit organizations, or to discover some employee giving campaign ideas, please check out the Truist.com site today.
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