The lost decade of productivity
June 2022
The digital transformation of corporate giving
Companies recognise the immense benefits that charitable fundraising brings not only to their businesses, but also their employees, customers and society as a whole.
Charities are reeling from the cost-of-living crisis, with 59% of non-profit organisations concerned that this could trigger a reduction in those willing to donate, and a further 35% concerned for the future of their organisation altogether according to Charity Link.
As we continue to place more emphasis on the social responsibilities of corporations, it has become all but essential for businesses to consider charitable giving as a core part of their CSR strategy. However, as more companies adopt a hybrid or even fully remote approach to work, or for businesses with national or global offices, it is paramount that they utilise technological advancements if their fundraising is to remain effective.
The pandemic was a catalyst for significant leaps in digital advancements for many organisations. Businesses adopted new technologies for many of their existing systems and processes, allowing them to continue operating amidst a landscape of great uncertainty.
If any corporate social responsibility strategy is to be successful, especially when it comes to fundraising efforts, it must adopt a digital-first approach. A report from Global Trends in Giving found that 61% of donors preferred to give online, and 25% were most inspired to give through fundraising events. Given this, it makes sense for businesses wanting to continue making real positive impact to utilise technology and platforms that can assist with fundraising efforts and aligns with the preferences of potential donors.
Employees want to feel proud of the company and team they are a part of, and as such want to engage in initiatives that recognise social responsibility. This is especially true of millennial and generation Z workers, who want to see businesses connect with activism and demonstrate a real social impact.
Working towards a collective goal through fundraising for a charity can go a long way to improve both motivation and engagement, while building positive working relationships between individuals, teams and departments that may not have otherwise had a chance to connect with each other. In a working landscape characterised by remote and hybrid working, in-person fundraisers are not always possible, and in the case of global teams, simply not practical.
Technologies that enable virtual fundraising events allow disparate teams to reconnect, and provides them with the resources and space to do so in a way that brings them to the forefront of fundraising efforts, resulting in greater levels of investment and engagement with the entire process.
Fundraising tools and platforms offer an opportunity for corporations to bring their charitable efforts firmly into the digital age, streamlining the process of giving, and integrating it into other aspects of their corporate social responsibility strategies.
Software that centralises fundraising campaigns, allowing participants to easily access information and goals, makes the process of managing and raising funds far more efficient, fostering a better sense of collaboration. Automated marketing platforms – already utilised extensively by non-profits – can help large organisations raise awareness around their campaigns. This is particularly important given Deloitte’s recent findings that one of the major reasons for employees not giving to workplace programs was simply a lack of awareness.
It has never been more important for businesses both large and small to demonstrate their commitment to positive social change through charitable giving. However, for larger corporations, and those adopting a remote working model, connecting and engaging teams through fundraising and charitable giving can pose its own particular challenges.
Just as businesses have embraced technological advancements when it comes to communication, administration and a host of other processes, this must also be applied to corporate social responsibility strategies if businesses wish to continue maximising the positive impact they make.
