GiveStream’s main benefit is that it is an economically viable, high impact, easy to implement tool to combat the increasingly high cost of turnover. But it has other major benefits for employers as well. Below are 10 reasons why GiveStream will be good for your business.
1. Improves employee engagement and workplace culture – Imagine if you could easily show your employees that you value their contributions and personal causes all year long with minimal use of corporate resources. GiveStream lets you allocate corporate funds to individual employees so they can donate to the causes that matter most to them. You improve your workplace culture by trusting employees to choose and giving them this feel good experience.
2. Lowers corporate overhead – If your company already has a company giving campaign, you know how much time and money organizing those campaigns can require. Sometimes it’s impossible to sustain charitable giving as the company grows. GiveStream handles all the details required to allow your employees to distribute funds to their favorite nonprofits. You can leave it to us but still let your employees choose what matters to them.
3. Can incentivize and reward your top performers – because GiveStream allows you to allocate on an individual basis, you can create competitions that let you use an allocation as a prize, or setup a reward system that allocates more to an employee based on meeting business objectives. Then they can reap the emotional reward of helping and the pride of winning.
4. Provides a niche, tax free benefit for attracting and retaining employees – Because the employee does not receive the GiveStream allocation as a payroll benefit, there is no payroll tax associated with it. The employee merely passes company funds to the cause they select. The company still gets the tax write off.
5. Creates diversified PR – Imagine if your charitable reach could extend into each employee’s neighborhood. Your employees and the nonprofits they support would become your ambassadors, talking about your generosity at backyard barbeques, youth sporting events, and neighborhood block parties. This kind of positive PR is priceless and in this case, it’s a free bonus of our high impact engagement service.
6. Shares your company’s name and commitment on social media – Your name and positive brand recognition will be shared by each employee using our service on their favorite social media outlet.
7. Improves local communities where employees live and work – This is one of the best benefits of our GiveStream service. Because we don’t use a pass thru charity, the list of potential nonprofits is unlimited and we allow your employees to support any nonprofit they choose. Local nonprofits can get the funding they need to improve their own piece of the puzzle and GiveStream can help these nonprofits connect with your employees – supporters and volunteers that really care.
8. Creates employee ambassadors – Wouldn’t it be nice if your employees could talk up your company at their social events discussing your support of whatever cause matters most to them and their social group, such as the arts, animal welfare, or youth sports. If my neighbor mentioned her company helped her support a local charity, I’d be more likely to choose that company’s product the next time I’m shopping. Your employees become your brand ambassadors in the local community.
9. Provides favorable tax treatment of your charitable funds – You can fund the GiveStream service with appreciated securities such as those in long term incentive plans. Because the funds are used for charitable purposes, the corporation gets the charitable deduction and is not required to pay capital gains taxes on appreciated securities.
10. Reduces the burden of vetting charities – Most companies do not have the time or resources to vet more than a few major corporate causes. If they sense that they need to offer more charitable options to their employees, they choose a pass thru charity which can reduce the dollars that reach the target nonprofit. GiveStream transfers the burden of vetting charities to individual employees. 84% already have their own charities so the burden of vetting is significantly reduced. And because we don’t use a pass thru charity, the list of potential nonprofits is not limited.