Corporate Matching: Observing the Multiplier Effect When Providing Emergency Financial Help
June 1, 2016
Addressing Disasters: Beyond the Assistance Program
October 3, 2016September 22, 2016
Team members engage with company-sponsored relief funds in two ways: as the chief revenue providers, through donations to the fund, and as beneficiaries of the fund when hardship or disaster strikes. Increasing awareness of and participation in the fund is critical to its success. Here are a few ideas for ways that companies can raise awareness and thereby, participation levels:
- Communicate, communicate, communicate! Getting the word out to the workforce that the fund exists cannot be overdone. A strong introductory campaign, with information about the structure, intent and administration of the fund is paramount. Circulate your Frequently Asked Questions document widely as this is often the best means of explaining how the fund works.
- Make sure your documentation is detailed and clear about the grant application process. The IRS requires specific documentation when applying for funds, and team members need to understand that such documentation must be complete before an application can be processed.
- Encourage early commitment to regular contributions by all team members – make it a part of new team member orientation.
- Ensure company executives are contributing and are visibly supportive of the fund. Solicit statements from executive of their commitment to the fund, its mission and its success.
- Have local management and HR urge team members to apply for assistance when they qualify under the plan rules – it is there for them and they should feel confident in taking advantage of it in their time of need.
- Seek out and share recipient success stories to demonstrate the good that the fund is achieving.
- Provide regular updates to team members on the state of the fund – what percent of the team member base is contributing; how much has been given; how many grants have been made. And again, success stories!
- Conduct an annual donation drive or a team member fundraising event.
- Consider matching team member contributions at some level – either as the contribution is made or annually as a percent of the total amount contributed during the year.
A relief fund is one way to make team members feel valued and keeping team members informed about the work of the fund is a way to increase engagement and ensure success of the fund.
