As the workforce is increasingly dominated by Millennials, employers are looking toward more meaningful and creative ways to appeal to this emerging generation. One major area that has been gaining considerable attention from Millennials is corporate social responsibility.
The reason programs like pro-bono volunteerism, corporate giving, and matching gifts have become so popular is due to the need of the modern employee to align with the corporate values of his or her workplace. For example,
- 7 in 10 Millennials consider themselves social activists
- 3 in 4 Millennials seek out employers that support a social cause
- 3 in 4 Millennials believe corporations should create economic value for society by addressing society’s needs (source)
Check out these stats to gain some insight about how important these values and belief based programs are to the Millennial workforce:
Create a workplace of happiness easily by encouraging volunteerism and giving in your workplace. 72% of Millennials said “a job where I can make an impact” was important to their happiness.
Hire more engaged employees, for less by creating an organization that makes an impact on the world. 45% of Millennials would take a pay cut for a job that makes social or environmental impact.
Engage and build out your corporate values and see your employer brand skyrocket. 58% of Millennials would take a pay cut to work for an organization with “values like my own.”
Did you know that 80% of Millennials want to work for a company that cares about how it impacts and contributes to society? And over half would refuse to work for an irresponsible corporation.
More than half of your potential and existing workforce may want to volunteer. Are you offering programs that allow them to do so? 61% of Millennials would prefer to work for a company offering volunteering opportunities.
The work your company gets behind can really affect the talent that comes to work for your organization. 55% of Millennials said that the company’s “cause work” influenced their decision to accept an offer (source).
Building something that impacts society together makes for a more productive and more engaged workforce. 77% of Millennial employees prefer to volunteer with their coworkers (source).
Create a culture of participation. Not only does this create employee engagement, it can flow into other areas of work as well. 65% of Millennials were more likely to volunteer if other co-workers participated (source).
Do as I do and as I say. Let managers get in on the action. Over 44% of Millennial employees said they were more likely to volunteer if their supervisor did (source).
These numbers are too significant to ignore. Community impact, cause-focused benefits and corporate social responsibility initiatives should be carefully considered by employers, especially for recruiting and retention purposes. The case is clear, the largest generation in the workforce is ready to roll up their sleeves and pitch in. It’s your responsibility as an employer to help them get started. Take a demo of CyberGrants to see how we can help you do it today!