Fidelity Investments announced a new program on Monday that allows employers to integrate charitable giving into their current benefits program, and at the same time offers employees a way to manage their philanthropic activities.
Fidelity Workplace Giving is a response to the increasing desire by employees for greater involvement in their company’s socially responsible commitments, Fidelity said.
It cited recent research that showed four out of five millennials preferred to work for a socially responsible company, and two out of three said they would not take a job with a potential employer that lacked strong corporate social responsibility practices.
“Employers increasingly recognize the importance of offering benefits that contribute to the total well-being of their workforce, especially charitable giving programs,” Kevin Barry, president of workplace investing at Fidelity Investments, said in a statement.
“However, it’s often difficult for employers to easily integrate these programs into their benefits platform. Fidelity Workplace Giving enables companies to provide access to a charitable giving option alongside other company benefits, increasing employee engagement and helping employees better understand how charitable giving fits into their overall financial picture.”
The new program eliminates the administrative burden on a company of managing a separate third-party solution to coordinate charitable giving. The program integrates into the employer’s current benefits platform, enabling the company to measure the activity and gauge the program’s effect.