Originally published on City Philanthropy.
The American movement for businesses to Pledge 1% of their equity, product and employee time for community benefit has arrived in the UK. Building a movement of corporate philanthropy the Pledge 1% campaign is dedicated to making the community a key stakeholder in every business and integrating philanthropy into business globally.
Twenty-five companies have joined the UK Pledge 1% including, Salesforce, Sage Group Plc and NewVoiceMedia. The consortium of organisations behind Pledge 1% wants to see philanthropic leadership and a culture of giving throughout business. They believe the Pledge 1% model is flexible enough to suit every business. The companies who have Pledged 1% are attracting and retaining top talent – especially among millennial employees – highly successfully. Their research shows corporate citizenship is a powerful recruitment and retention tool; Pledge 1% companies have 2.3 times the employee retention rate and an increase of 29% in new hire commitment compared to those who are not. They also highlight how this delivers a business competitive edge. A giving culture is also a great attracter for millennials: according to Deloitte’s 2015 Millennial Survey, six out of 10 millennial employees say that a “sense of purpose” is part of the reason that they chose to work for their current employers.
If you want to join the Pledge 1% in the UK find out more here: www.pledge1percent.org
