Not only as an employee, but also as a consumer, millennials are attracted by a good corporate volunteering strategy. For example, 55% of millennials indicate that they are prepared to pay extra for products and services that are dedicated to a higher purpose. Companies play smart on this by means of so-called purpose marketing: selling more than just a product. As previously stated spot-on, companies such as Coca-Cola, ING and Nike no longer sell soft drinks, banking services or sports shoes. They sell happiness, advantage and self-transcendence.
Corporate volunteering ties in seamlessly with the CSR strategy. For example, Coca-Cola employees can create moments of happiness for sick children, ING employees can supervise projects to train australia telegram data 3 million illiterate people, and Nike sports enthusiasts can organize events for disabled sports. When these corporate giants get started with such projects, a movement is started that has a major impact on the charities they help. This is done both through hands-on projects by employees and through extra awareness for the charities.
Especially in purpose marketing, there is one condition that is of great importance to make the millennial triad. A system must be set up that properly measures the impact the organization makes by doing volunteer work. This means that the sector of the volunteer work is determined, shared goals are set, and the hours of social impact are recorded. Without this system, it is not possible to communicate how much and in what way the company 'does good'. This is a common shortcoming in organizations.
Although volunteering is sometimes incentivized with money or work time, these initiatives are not stored and brought together within a social mission that matches the DNA of the company. This misses the great opportunity to attract millennials, actively involve them in the social impact the company makes, and retain them as loyal customers.