Corporate Philanthropy as a Basis for Talent Attraction & Retention
Oceanic Pharmachem Private Limited (OPPL) believesthat social philanthropy enhances the corporate brand and thereby, the employer image.
Deeply rooted in today’s generation is a need to give back to the society in more personal ways, make a change and find meaning in their work life. Some of the world’s biggest companies are fulfilling that need through corporate, socially-conscious, giving programs. Such corporate philanthropy has also impacted their employer image in a strong positive way.
The younger generation wants to work for a company that cares about how it impacts and contributes to society. The majority would even refuse to work for an irresponsible corporation. Even from a consumer standpoint, today’s society favours organizations that make corporate philanthropy a priority and a part of its core values. This has made Corporate Social Responsibility much more influential in a company’s branding strategy.
Engagement has become more than simply donating to whatever cause an employer chooses. By taking a strategic approach to corporate philanthropy companies can fuel involvement, personal satisfaction and even grow employees’ skills. From giving employees the chance to choose which charities to give back to, to incorporating skills-based volunteer opportunities, involving employees in the philanthropy process will greatly impact the bottom line.
A planned philanthropy also enhances employee wellness and their sense of happiness. Happier employees are more productive, satisfied and engaged in their work. Employees who are involved in philanthropic activities outside of work find that such involvement positively impacts their overall wellness, allows them to find a better work-life balance and makes them more effective in their work. Employers can make these effects even more impactful by having a corporate philanthropic program that lets employees put in their social awareness time on the job. This is a precious engagement opportunity that clearly has the potential to increase productivity and satisfaction, ultimately leading to increased retention and a favourable employer brand.
Corporate philanthropy ties employees to the values of the company. A job where employees can make an impact is important to their happiness. Some employees are ready to take a pay cut to work for a company with values aligned with their own. When it comes to accepting an offer, candidates prefer to work for an employer that engages in social causes.
From recruitment to engagement to retention, corporate philanthropy marries social responsibility with talent attraction and retention and provide employees outlets that allow them to contribute back to the world while developing their talents, with the support of their employer. Money is an important deciding factor in the career choices people make, but the true motivation lies in how connected they are to their job and the company they work for.
By cultivating an environment that embraces a need to find meaning in their work, employers are forced to change or modify their corporate philanthropy strategies in a way that not only makes employees work harder and gets candidates more interested, but directly impacts core values and the bottom line too.