Corporate Volunteering & CSR Programs in Financial Institutions

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This presentation explores the significance of corporate volunteering and CSR programs in international financial institutions and private corporations, emphasizing the benefits for both employees and communities. It covers the rising trend of corporate volunteering, the impact of volunteer grants, market insights, and reviews of volunteer hubs, along with valuable suggestions for enhancing engagement and programs. The content highlights the positive outcomes associated with corporate volunteerism, such as improved employer perception, employee commitment, and skill development, ultimately enhancing community partnerships and employee satisfaction.

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Mapping Corporate Volunteering & CSR Programs in International Financial Institutions and Private Corporations Sciences Po PSIA (Paris School of International Affairs) Presented by Bum Cheul PARK & Shiyao ZHANG

OUTLINE Overview: the essential role of corporate volunteering Corporate giving: the most common practice of corporate volunteering Analysis: Market trends and insight Review: EIB volunteer hub feedback Recommendations

OVERVIEW Corporate volunteering program: rising in 1900s Why corporate volunteering programs are essential? 87% volunteers report an improved perception of their employer 82% report feeling more committed to their employer 70% of employee volunteers reported developing their time management, communication, influencing, decision-making and leadership skills 81% of community partners had an improved perception of the employer they worked with and 99% would recommend the company to others

CORPORATE GIVING Volunteer grants are corporate giving programs that encourage volunteerism in communities where employees live and work. Through these programs, companies provide monetary grants to organizations where employees regularly volunteer.

MARKET TRENDS AND INSIGHTS Rise in skill-based volunteering programs (SBV) (necessarily) remote volunteering Combining demand of nonprofits with cv programs Fit the need of millennial employees

EIB VOLUNTEER HUB REVIEW Feedbacks on current activities of Volunteer Hub The hub is fantastic at raising awareness. It brings like-minded people together. They are good at organizing events. It is a good start. In the future, I wish there could be more progress for the volunteer hub, like to hold bigger events and involve more people. And there should be a long-term program so that people can have more sense of belonging.

SUGGESTIONS FROM THE VOLUNTEERS Increase the publicity of the volunteer hub to engage more employees at the bank. Hold regular charitable or volunteering events. Improve the methods of participating in the volunteering program. The visual design of the volunteer hub page could be improved, not only by adding more information, but from the web design perspective, there could be more graphic illustrations. Seek support from the management level, to put the information about volunteer hub at the main web page of EIB. Increase the transparency of the donation process, let the volunteers meet the NGOs or charities they are supporting, will encourage more engagement.

KEY PILLARS TO A SUCCESSFUL VOLUNTEERING PROGRAM Pillar 1: Management support Based on the foregoing interviews with EIB employees, as well as what has been gleaned from successful programs done by IFIs and private corporations, what is needed first of all seems to be strong management support from the top down, which seems to be the surest way to ensure that the full CV program cycle is carried through from start to finish from initial pitch, to the raising of funds, to monitoring the long-term impact of the gifts to partners/beneficiaries.

Pillar 2: Matching gifts For all the reasons specified above, putting into place a matching gifts program by the EIB to match the funds raised will not only send a positive message to the partner/beneficiaries that the institution is behind them for continued support, but is also a proven method to effectively amplify the total amount of funds in a short amount of time that may be raised in any given giving campaign / fundraising initiative. When done alongside with Pillar 1, a matching gifts program is poised to deliver long-term impact for the beneficiaries as well as instill a sense of participation of the employees of the institution as whole.

Pillar 3: Network of coordinators by department This pillar addresses the factor of visibility that was mentioned as a continuing challenge for the EIB Volunteering Hub in the foregoing sections. By putting in place a network of voluntary coordinators of the EIB CV program in each separate department (who would be self-selected individuals passionate about the field of volunteering) as opposed to coordinating everything through emails or the Intranet page has been mentioned to vastly increase the efficiency with which these programs may get done. In an organization that is governed through corporate governance structures (i.e. separation by Department), this method of having a network of departmental coordinators each in charge of mobilizing his/her own department in support of a new CV initiative would vastly improve visibility of not only the EIB Volunteering Hub but also the participation rates of employees in these initiatives into the future.