What do companies such as Salesforce, Optimizely, and Yelp have in common? Not only are these companies cutting-edge in the technology sector, they also are cutting-edge in the way they conduct business. These three companies took the 1-1-1 pledge.
Pledge 1% is a call to action in corporate philanthropy to centralize focus on the community. Pledgees are encouraged to donate 1% of equity, employee time, and product for their community. Participating companies choose which nonprofits and causes to support based upon their philanthropic goals.
What are the different actions 1% pledgees take?
Component One of Pledge 1%: Equity
Pledgees can allot equity in a number of different ways: publicly commit to pledging equity, immediately grant equity, or pledge equity prior to an exit. Companies utilize Pledge 1% partner EFCO to successfully set aside equity, and they may choose the amount of shares and the nonprofit recipients.
The sooner you pledge, the better! If you build philanthropy into your business from the beginning, every corporate decision will be made with the community in mind.
Component Two of Pledge 1%: Employee Time
Companies can pledge 1% of their employees’ time to volunteer. Pledgees can offer a wide
variety of employee volunteer programs (EVPs) to meet this goal including: team volunteering, individual volunteering, pro-bono service at home and abroad, board service, and paid time off volunteer programs.
With this commitment in mind, no longer will companies have to guess at what success looks like in an EVP. Utilize a workplace giving platform, such as Good Done Great, to track your progress toward achieving your 1% goal.
Component Three of Pledge 1%: Product
An easy way to contribute to Pledge 1% is to provide product at little or no cost to non-profits. Keep in mind that the donated product must contribute to the nonprofit’s mission and/or contribute to social problems. Consider requiring a budget and application form.
Examples of in-kind donations include: a software company donating accounting or donor-management software, an office supply company donating school supplies, or a pharmaceutical company donating medical supplies.
Pledge 1% reflects the change in corporate ideology from solely profit-motivated to community and impact-motivated. No matter the stage of growth of your company, Pledge 1% is a great way to inspire your employees around a movement of giving.
Is your company in need of a culture overhaul? Utilize the tools on the Pledge 1% website to develop a compelling presentation to your board to participate in Pledge 1%. Not only will your participation boost your recruitment efforts but also your entire company will share in the success of a successful exit which positively impacts the community.