Payroll Giving is a scheme that enables employees to give to a charity straight from their gross salary
What are the benefits to your organisation?
Payroll Giving has numerous benefits for organisation, including financial, aiding staff retention and improving CSR.
Payroll Giving is quick and easy to set up and administer at minimum cost to the company. It may require a small initial outlay of staff time in dealing with employees mandates and making the relevant deductions on your payroll system, but once set up, it runs automatically and there shouldn’t be any further costs incurred.
Setting up a Payroll Giving scheme shows a company’s commitment to charitable giving and, making it easier for your employees to give, can have positive effects on the work place by boosting employee morale and create a sense of team-building. Research also shows that working for a philanthropically minded organisation aids staff retention and happiness, as more and more employees are socially aware and view companies with active corporate social responsibility profile as desirable workplaces.
Corporate Social Responsibility
Corporate Social Responsibility is becoming more prevalent in society and companies are expected to give more back, whether financially or through other resources available to them. By setting up a Payroll Giving Scheme, your company is improving its corporate social responsibility profile. This can also be used to positively advertise your organisation and show that it is a socially conscious employer, which may improve your business relations and can act as a selling point to potential clients.
Global bank and financial services provider, BNP Paribas, already has a payroll giving scheme called ‘Your Hour to Give’, which enables employees to donate the equivalent of an hours pay, or a specified amount each month, to charities that are selected at the beginning of each year.
Rebecca Daly, Senior Human Resources Officer, BNP Paribas said,
‘We are delighted that many of our staff have signed up to the BNPP ‘Your Hour to Give’ payroll scheme. The change in policy has made administering this initiative so much easier and enabling charities to claim back tax on smaller donations, is surely the right thing to do and a fantastic result.’
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