5 Lessons From the Millennial Impact Report
In our #ynpngiving conversation starter, we've been asking you lots of questions about where you give, why you give, and how you give. When we saw this year's Millennial Impact Report, we couldn't wait to dig in and see how your feedback compared to a larger survey sample. This year, the Millennial Impact Report specifically looked at millennials and corporate cause work -- how important was a philanthropic culture in the workplace? What type of philanthropic culture best motivates and engages millennial employees?
Here are our five takeaways from the report (and some sweet inforgraphics):
1. Millennials continue to factor in a company's cause work in job decisions. Even if they haven't given or volunteered in the past year, 27% of millennials still reported they were interested in a company's cause work during their job search. This number increased in relation to number of hours volunteered in the past month.
2. Millennials prefer volunteering in groups, while using individual talents and skill-sets to help others. This would explain the popularity of larger service projects for companies which utilize a diverse skill-set -- such as a Habitat for Humanity house build. Millennials are an extremely social generation, but they also see volunteering as a way to grow their own skill-set.
3. The longer a millennial is at the organization, the more likely they are to choose donating money over donating time to a company cause.
4. Company-wide service days aren't dead. According to the 2014 Millennial Impact Report, 81% of millennials who have been with a company for five or more years still value a company-wide day of service. This number increases among newer employees.
5. Millennials like a three-pronged approach to corporate cause volunteering: company-wide, department-specific, and individual. This was surprising to me, because 'sabbaticals' tend to invoke images of stiff professors and dusty research libraries. But a volunteering sabbatical? That's something I can get behind. What a refreshing idea -- exposing individual employees to diversity, ideas and processes which will allow them to come back as a more inspired, connected worker.
Sometimes, I think nonprofit companies forget their millennial employees are still looking for these things too: company-wide service days and hands on volunteering. As young nonprofit professionals, we can get so caught up in facilitating and providing the volunteering or giving experience for others that we lose track of making our own group (or individual) volunteering a priority. When working for a nonprofit, how can we make sure that we don't lose sight of that volunteer spirit in the midst of work ethic? Personally, this report was a wake up call that no matter how much I work for a nonprofit, those work hours can't replace my own volunteer hours -- while both are valuable, they meet a different need of my individual spirit. Maybe, even, nonprofit organizations need to pick a company cause that is outside their current mission or cause that they volunteer for yearly -- a way to engage staff in a new capacity as individuals, and reconnect with the interconnectedness of the sector. While this type of concerted volunteer effort of employees outside of a nonprofit's given mission or cause seems irrational, it could also spark new connections and innovations within the sector.
Do you disagree? What has been your most fulfilling company volunteering/giving experience?