Transformative new approach helps unlock billions in untapped corporate donations and engages the majority of the workforce in charitable giving – not just the privileged few
WeSpire, the leading employee experience platform for ESG initiatives, today announced the general availability of a modernized approach to corporate giving, utilizing personal grant accounts to significantly boost employee involvement, unlock billions of dollars in potential corporate matches that are not distributed annually, and tackle systemic inequities in participation. Personal grant account capabilities within WeSpire’s Social Impact platform enable the digital distribution of funds to employees who are then encouraged to donate to causes they are passionate about, allowing companies to meet the philanthropic needs of today’s socially conscious-employees, turning the tables on the last generation of transactionally-focused systems.
Historically, U.S. employee participation in company matching donation programs is extremely low, leaving an estimated $5 billion in potential corporate matches not distributed annually. Companies frequently budget an amount they are willing to spend in matching donations during a given calendar year, but if employees don’t give, those funds stay untapped. WeSpire personal grant accounts evolve that traditional system with a more effective and equitable approach that puts the majority of funds, digitally, into employees’ hands and then uses behavioral-based nudges to inspire employee action and turn those digital dollar grants into real funds distributed to nonprofits selected by the employees and in line with a company’s values.
Additionally, many employees in the U.S. live paycheck to paycheck and feel unable to take advantage of matching gift programs offered by their organizations. Those who give are often executives and manager-level employees, and as a result, participation is minimal and skews toward affluent employees. As a result, not for profit organizations that may be more aligned with frontline employees’ needs and interests are less likely to benefit from corporate funds, further disconnecting companies from their employees in a time of unprecedented involuntary turnover. WeSpire’s novel approach not only distributes more corporate philanthropy dollars more equitably, but does so in a way that aligns causes more inclusively with employees.
“We’ve added a first of its kind, technology-enabled behavioral approach to the employee giving system, and our initial customers using it have experienced measurable impact across recruiting, performance, and retention,” said Susan Hunt Stevens, Founder & CEO, WeSpire. “As more companies follow this model, it will not only unlock billions for charities, but it will engage the majority of the workforce – not just the privileged few – in charitable giving, driving stronger alignment between corporate philanthropy and the causes that all employees truly care about.”
With a solution utilizing the principles of Dr. BJ Fogg’s behavioral model, WeSpire is empowering employers to change the actions of their employees – and thus change the impact they have on the world. WeSpire also uses world-class automation tools to implement and measure the effects of this shift.
WeSpire’s personal grant account solution also supports international giving campaigns, and has the ability to process donations weekly for giving campaigns supporting more urgent causes. To learn more about WeSpire’s personal grant accounts and how it supports a company’s commitment to inclusive culture, or to request a demo, visit https://www.wespire.com/social-impact/.
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