BY BRAD KNEPPER – In 2015, corporations across the country donated $18.45 billion to charities, and roughly another $4 billion was raised through workplace giving where employees designated philanthropic contributions directly out of paychecks. That $18.45 billion sounds like a big number, but it constitutes only 5 percent of the total dollars donated. When you consider that 72 percent of dollars donated in 2015 were from individuals, it suggests that businesses can do more.

Monetary donations are often one of the first ways that businesses approach corporate social responsibility (CSR), but that’s just the beginning of an effort which has become more important than ever in driving customer loyalty, employee recruitment, retention and long-term business success.

Research shows that nearly 80 percent of the workforce wants to work for a socially responsible company; and millennials in particular, which make up the largest segment of the American workforce, are seeking out and staying with companies that are proactive and collaborative in their community giving.