Top 10 Tips on Developing a Culture of Giving

Investment professionals are extraordinarily generous with donating their time, money and expertise to their local communities. This spirit of giving back, however, need not be a solo activity. By engaging all employees to give back, financial advisors can deepen their charitable impact and foster an esprit de corps that can improve worker productivity and employee retention.

If you’re interested in getting your employees involved in a practice-level community involvement initiative, here are 10 tips to get you started.

1. Take Small Steps—There is much to learn about engaging with outside organizations in an impactful and meaningful way. Start small, set both short-term and long-term goals, and don’t hesitate to reach out to others and learn from their experiences.
2. Make it a Group Exercise—While promoting individual community involvement is laudable, fostering group action increases charitable impact and enhances employee teamwork.
3. Make it Fun (and Voluntary)—Never create pressure for employee participation. To maintain enthusiasm and encourage participation, make sure it’s enjoyable. That sense of fun will create a ripple effect among your staff.
4. Focus on What Interests Your Employees—To generate maximum involvement, individuals need to care about the mission of the charity or organization. As heartfelt as an investment professional may feel about the endangered White Ferula mushroom, most employees are unlikely to share that passion. An informal survey about what matters to employees may be a great way to assess where their passions lie.
5. Establish an Employee Committee—Creating a committee that plans and directs activities will give employees a greater sense of real involvement, making them more enthusiastic participants and more persuasive advocates among fellow employees.
6. Provide the Appropriate Resources—Community initiatives require resources, from buying t-shirts for employees to actual charitable gifts. Don’t shortchange it. That sends the wrong message about your commitment to giving back.
7. Regular Communication—Sustaining engagement depends upon ongoing communication about past activities, future plans, the impact of your efforts and periodic acknowledgement of individuals who have gone above and beyond.
8. Engage with Your Clients—Let clients know about your firm’s activities, not for boasting purposes, but to make them aware of your efforts to address an important challenge. Who knows, you may discover a new advocate.
9. Generate Publicity—Greater community awareness of your firm’s efforts can only increase the pride level of working at your firm and motivating employees to get involved. The publicity will have the additional benefit of raising awareness for the charity you’re helping.
10. Start a Foundation—In time, consider establishing a 501(c) (3) so that tax deductible contributions can be made to support your cause(s), which can amplify results.

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