Latest figures just released from the ATO for the 2014/15 year show an increase in donations of a whopping 34 per cent over the previous year. This follows on from a 13 per cent increase in 2013/14.
These latest statistics also reflect what Australia’s leading workplace giving service provider, Good2Give, is seeing in the companies they work with. Accounting for around 20 per cent of donations made annually, Good2Give attributes this growth to investment in technology. Technology is a proven enabler. The majority of the market is not using technology, however as more employers outsource their workplace giving programs to sophisticated donation platforms, it’s likely that donations will keep trending up in the years to come.
Workplace giving is a vital and growing income channel for charities. It is also one of the lowest cost donor acquisition channels, and in an environment when cost pressures are coming to bear on charities, it’s important for charities to invest in digital channels, of which workplace giving now is, to generate low cost funds.
“The growing importance that Millennials are placing on giving back at work is also helping to drive change at a corporate level. We know workplace giving is attractive to a younger demographic and that a company offering a workplace giving program makes staff feel proud of their company, so it’s really a no brainer to allow staff to give to a charity through their pre-tax pay,” CEO Lisa Grinham said.
Good2Give’s extensive sector analysis of real-time data shows that professional services firms lead the way with around 20 per cent of staff utilising their company’s workplace giving program. Good2Give also tracks employee participation rates, donation value, sector splits using real-time data. Compared with the ATO data Good2Give’s donors are more generous giving on average $600 annually versus the ATO average of $262, although this is up $60 from last year which is encouraging.
Grinham said, “It’s encouraging to see more and more companies introduce and invest in their workplace giving programs. The 6 per cent increase is positive, however, let’s not kid ourselves we still have a long way to go – but the trend is going in the right direction”.
Join the movement and set your giving targets by accessing Good2Give’s online Industry Evaluation tool today.