7 Types of Corporate Social Responsibility Programs
Corporate Social Responsibility (CSR) has become an essential component of business over the past decade. More and more companies are feeling the pressure to implement some type of social responsibility initiative. CSR means different things to different companies, but generally each CSR program will fall under one of the 7 categories outlined below.
1. GENERAL DONATIONS
Making monetary donations to deserving causes is the most basic and most common form of corporate social responsibility. Many companies will pledge to donate a percentage of their earnings each year to charitable causes. Some choose to partner with a specific non-profit, others take donation requests from all over.
Business's receive requests for donations every day, and managing all those requests can be overwhelming and time consuming. DonationXchange can streamline all of your donation processes so that you can easily manage the donation request fulfillment life-cycles from start to finish.
2. IN-KIND GIVING
Instead of giving money to organizations to buy needed goods and services, the goods and services themselves can be donated as gifts in kind.
On the DonationXchange platform, all giving initiatives are tracked in one central repository. Once you have created and embedded your custom item donation request form onto your website, organizations can submit charitable donation requests online.Handling donation requests has never been easier.
3. GRANTS, SCHOLARSHIPS & SPONSORSHIPS
Setting up a program to award deserving organizations or individuals with grants, scholarships or sponsorships is another common CSR practice.This is another corporate giving program that can become time consuming without a comprehensive management tool.
With DonationXchange, applications are branded to fit seamlessly into your website, or can be sent as a link to pre-determined benefactors. Applicants can easily edit, save, and submit their completed forms, and can independently check the status of their applications online. The user-friendly platform is designed to provide both applicants' and reviewers with a hassle-free experience.
4. DISASTER RELIEF
When disaster strikes, many companies choose to take action by supporting the victims with their own fundraising efforts. Responding to a crisis as a corporate community accelerates the gift matching process by eliminating the validation step, and lets your employees keep their identities private, as they may donate anonymously.
In the unfortunate circumstance of an unexpected tragedy, DonationXchange can equip you with the ability to implement a Disaster Relief program in less than 24 hours. Templates are provided to easily create donation sites that can be embedded on your website, or shared via hyperlink, allowing employees to contribute via credit card. With the added flexibility to choose how to disburse the funds collected, you can be confident your contributions are going to the most productive and responsive relief initiatives.
5. EMPLOYEE VOLUNTEER PROGRAMS
Creating opportunities and incentives for employees to volunteer is proven way to increase morale and engagement. Many companies are now adding "volunteer days" to their PTO packages to encourage employees to give back without sacrificing time off. Other companies creative incentive by offering extra PTO days after a certain number of volunteer hours are logged. According to a 2013 study, people who volunteer report that they feel better emotionally, mentally and physically. The same study revealed that employers find that volunteering employees are less stressed, more engaged, and are developing important work and “people” skills.
The DonationXchange platform gives your employees the opportunity to easily create and submit new events (pending approval), register for company sponsored events, and participate in your key community programs by completing a simple online form found in their personal employee giving portal account.
6. MATCHING GIFTS
A matching gifts program allows an employee's monetary donations to eligible nonprofit organizations to be matched by their employer. Many companies have a threshold for how much they will match. Some programs will also require a minimum dollar amount from an employee in order for their donation to be matched. For example, Company A may require a donation of at least $250 and no more than $1,000 in order to receive a matching gift. Alternatively, Company B may have no minimum requirement and also have different levels of matching gifts thresholds based on employee level. Some companies will even merge their matching gifts programs with their employee volunteer programs by matching fundraising dollars.
DonationXchange allows employees to submit charitable gifts to causes of their choice directly through the system via credit card, e-check or payroll deduction. Records of gifts external to the system can also be easily uploaded in digital receipt form, or input manually after the donation recipient validates the gift.
7. DOLLARS FOR DOERS
Dollars for Doers - also known as volunteer grant programs - allow employees to earn monetary grants from their company for volunteer hours. Generally, an employee volunteers for a certain number of hours per year and they are able to receive a grant of up to $X, to go towards a non-profit organization of either the company or the employee's choosing. Some companies may structure the program on an hourly basis instead, allowing employees to earn a specific dollar amount for every hour they volunteer.
DonationXchange allows you to reward and motivate your employees by implementing Dollars for Doers programs online. As employees complete volunteer hours, they can use an online portal to log their hours towards an administrator authorized award goal. Administrators can then communicate directly with the charities to verify service hours.
Many companies choose to leverage multiple CSR programs in order to encourage more philanthropy and increase engagement in the workplace. Whatever combination of programs is right for you company, DonationXchange has the technology to help you manage them all with ease.