Giving is contagious and having a socially good company culture is vital today.
When people think of Microsoft and its founder, Bill Gates, often the first thing that comes to mind is the Bill and Melinda Gates Foundation: a nonprofit organization they founded with the fortune. Its mission is simple: working to improve the lives of everyday people. The foundation is a significant part of the brand’s image, mission, and contributes to Microsoft’s reputation as a leader in social good.
Like the Gates Foundation, many companies are putting more resources into charitable causes, and for good reason. Along with the warm feelings associated with altruism, employees contributing to the social good recognize that philanthropy can provide good fuel for any company.
However, you do not have to be a Fortune 500 company to start a private foundation. Actually, any company any size can establish their own charity, dialed down directly to each employee.
This is due to a very new employee benefit program, called Give Back. Give Back allows companies to withhold charitable contributions via payroll deduction, and remit to the vendors of the employees choosing. (Think “United Way” payroll campaigns meet modern technology.)
Here is how it works:
An employer establishes an arrangement with GIVE BACK, much like a 401k would interface with their company. Employees agree to “give” each paycheck, to the charity of their choosing (most 501c3 organizations participate). Employer withholds any amount selected by the employee and remits to GIVE BACK. Employees log on and change their charitable selections anytime and so they can give to various charities all year long.
Imagine the opportunity for a parent to go home and share this giving program with their kids, allow their families to select the “family charity of the month”. What a powerful lesson and great way to engage employees and families in. Employers can match if they want – or contribute in similar fashion each month.
Benefits of a GIVE BACK plan:
- Helps attract and retain employees by demonstrating that you’re a company that truly empowers its people.
- Helps engage employees in workplace giving.
- Creates recognition for your company as a “business that cares”.
- Complements existing giving programs.
- Offers an easy-to-administer payroll deduction plan.
- Ensures careful vetting of all charities to ensure they are 501c(3) and IRS-registered.
- Provides an easy administration of company matching contributions.
- Provides company-branded Give Back web pages.
Talk about a low-cost and employee focused benefit!
Any company, any size, can have a GIVE BACK plan. CorpStrat helps companies establish Give Back plans as a way of helping them do socially good. Now, you can too with a comprehensive, state‐of‐the art payroll administration service from CorpStrat.