Throughout your career, you've surely seen employees come and go. It's the nature of the working world, and it's bound to happen. There are always a variety of reasons why people leave companies, but frequent employee turnover isn't good. Luckily, there are ways to reduce it, and one is in a way that you may not have thought of.
Have you ever done something nice for someone? Of course you have. We all have. We know that it makes us feel really good knowing that we made a positive impact on someone's life, in whatever way that may be. Simply put, supporting local philanthropy can help to decrease employee turnover.
Here are some of the benefits of supporting local philanthropy:
- Higher morale means higher productivity – This probably isn't surprising to you, but it can't be stressed enough. When employees are happy, production within the company rises. Employee happiness is the proverbial 'secret productivity hack,' so one supporting local philanthropy is good in two regards – your employees and your company are supporting good causes, and secondly, it's raising the morale of your employees.
- Give your employees incentive to volunteer - One company recently experimented with the idea of this. They gave all employees two extra paid off days each year, which they were to spend on volunteering and participating in local philanthropic activities. Following this, the 864 employees in the company were surveyed, and the results showed that 86% of them said that by doing this, they felt a sense of fulfillment, which thus raises morale and positivity about the company. Not only that, but 65% of them stated that it encouraged them to say with the company. It's important to give them reason and incentive to do it in the beginning, which is why the idea of an extra paid day off for something like this is a good idea.
- Teambuilding is key – When people feel like they're a part of a team and have a good relationship with their fellow employees, it will definitely help to decrease employee turnover. One of the best types of teambuilding activities is to volunteer for a good cause. Whether it involves helping families in need, volunteering at a local food drive, or doing something outside of the office to help raise money for a charity, it's something that you can all do together, which will help build a team's relationship. This is vital in building trust and good relationships among employees, which will only help to decrease employee turnover.
Have you or has your company ever experimented with something like this? People are on the go, so it's important to decrease employee turnover as much as possible, and one great way to do that is through supporting local philanthropic efforts. There are many great ways and ideas to do this, and it's something that our company has enforced and encouraged here, and it's paid big dividends. Why don't you give it a shot too?