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At BlueRock, we've developed a giving blueprint that encompasses 3 crucial elements: Time, Treasure, and Talent. In this article, we'll delve into the details of how businesses can start their charity giving strategy and explore the various avenues through which they can contribute to meaningful causes.
At BlueRock, we believe in a holistic approach to charity giving, focusing on these 3 pillars. Here’s how they can apply in the context of a business looking to do good.
Volunteering is a hands-on way to make a direct impact on the causes that matter most to your business and employees. This not only benefits the community but also fosters team bonding and a sense of purpose among your employees.
Financial support is a vital aspect of charity giving. Businesses can choose to make one-off donations, regular contributions, or even include charitable bequests in their wills. Consider donating gifts to charities for use in fundraising events, such as auction items. This not only supports the cause but also promotes your business's philanthropic efforts.
Businesses can offer their employees' expertise through pro bono, in-kind services for charitable organisations. Encourage your staff to share their skills, knowledge, and time with charities, helping them make the most of their resources.
If you're not ready to give money or time away to charities, there are other ways your business can do good, such as through your business spending.
One effective way to engage employees in charitable giving is through pre-tax salary sacrifice payroll giving. Employees can opt to contribute a portion of their salary package (inclusive of superannuation) to the company's charitable foundation each pay cycle.
We recommend a modest amount, such as the cost of a cup of coffee, which is approximately $7 per pay cycle (after tax considerations). Consider matching all employee contributions up to a certain limit or for their first few months. This serves as a powerful incentive for employees to get involved and doubles the impact of their giving.
At BlueRock, it took us 2 years to reach our first goal of 25% opt-in to payroll giving. That's a quarter of our employees giving to our foundation every week from their pay.
Other ways to use business as a force for good include pledging 1% for the planet, pledging B1G1, becoming a BCorp or starting a named giving fund with foundations like ours.
Create a policy that allows employees to use work hours for volunteering or pro bono work. Engage senior decision-makers to support this initiative and allocate 1-2 days per staff member per year for volunteering. Teams might like to do this as a team-building activity.
Offer a menu of volunteer experiences and pro bono projects that staff and teams can choose from based on their interests and skills. Make sure you do your due diligence on the charity artners and opportunities with consideration to the fact that sometimes you are required to pay to be involved in volunteering opportunities. Once you’re happy, communicate these opportunities widely throughout your business.
Make it easy for employees to book volunteer leave and log pro bono hours, simplifying administrative tasks. Create a system for employees to report their charity activities and track hours, allowing you to measure the impact and share the collective contributions made by your team.
At the Be BlueRock Foundation we believe every business and individual should have the tools to actively engage with causes they’re passionate about and provide their skills, knowledge, or time to support the charity sector. By embracing a charity giving strategy, businesses can make a meaningful difference in their communities while fostering a culture of giving among their employees and boosting their brand. Start your journey toward a more socially responsible and impactful business today by getting in contact with our philanthropy consultants.