Market Warning: Don't Buy This...

Today's "bizzarro" market has one 50-year Wall Street veteran concerned. He believes most investors are about to make this huge mistake.

Seeking engagement and purpose, corporate employees turn to workplace volunteering

JAMES POLLARD
April 28, 2024

NEW YORK (AP) -- Michelle Barbin's job does not always fill her bucket. Yes, she likes her nine-to-five helping improve consumer experiences at Blue Cross Blue Shield of Massachusetts. She emphasizes she wouldn't have spent nearly 19 years working for the health insurance provider otherwise.

But her "empathetic heart" gets true satisfaction from the company's opportunities to apply professional skills toward resource-strapped nonprofits. Routine work -- managing projects or organizing slideshows -- feels more fulfilling when it involves, say, a new marketing campaign for a Pittsburgh children's health group.

She's reaped developmental benefits, too; she credits her leadership on a day of service for helping convince her current boss to hire her onto a new team.

"This is a huge part of why I stay," Barbin said.

Employees increasingly find that robust workplace volunteer programs meet their desires for in-person connections, professional growth and altruistically inclined employers -- career objectives that might be missing in conventional corporate atmospheres. The surge in interest coming out of the pandemic-era shutdowns that forced many Americans to reevaluate their commitments to their communities led to more corporate partners, volunteer hours and active participants in 2023 than ever before, according to Benevity, a platform that helps companies manage such programs.

More than 60% of respondents reported increased participation last year in employee volunteer activities, according to an Association of Corporate Citizenship Professionals survey of 149 companies.

Even employees who don't volunteer themselves feel better about working somewhere with strong public-spirited cultures. Regardless of their own individual volunteer commitments, they feel proud about their affiliation with a socially conscious company, according to Jessica Rodell, a University of Georgia management professor who studies worker psychology.

Companies with robust volunteer programs tend to also have lower turnover rates, she said.

"Volunteering can be one tool in a company's toolbox to help employees invest of themselves enough in the company to perform well, and then want to stay there instead of go somewhere else," Rodell said.

It can be an especially good tool for instilling social purpose among frontline employees who tend to derive a sense of meaning from work but report detachment from their company's mission.

But flexibility is key. Business management experts note that employees must have the freedom to choose their volunteer activities, nonprofit partners and time commitments for fruitful bonds to actually develop.

Workplace volunteering was not something that Jesse Weissman knew he wanted from employers when joined Microsoft in May 2021. Three years later, it's an aspect of professional life that he said would warrant serious consideration if he ever pursued a new job.

Searching for a deeper connection to the Seattle community, Weissman began mentoring students of color through Microsoft's partnership with the Boys and Girls Clubs of America and a local nonprofit. Since September 2022, he's worked with Microsoft's Black employee affinity group in the Seattle area to arrange speaking and mentorship opportunities for his colleagues.

"It filled a hole that I didn't realize," Weissman said.

Not just any slapdash activity will do, experts say. These service days are not necessarily circled on office-wide calendars as afternoons of matching tees and on-site photo opportunities. Some companies set aside regular work hours for months at a time so employees can build websites or develop business strategies for local charities.

Executives might think that a lighthearted, social effort -- filling backpacks at a happy hour, for example -- is necessary to turn out their fun-loving employees. But Rodell, the management professor, said that more time-intensive, meaningful programs have greater resonance with volunteers.

Best practices include following employees' leads and meeting them where they're at. Skills-based opportunities at Blue Cross Blue Shield range from one-day, "flash" projects to monthslong partnerships. The company sets aside 15 days annually for associates to spend volunteering, much like vacation and sick time. Affinity groups can co-create service projects.

Integrating giving into the volunteer programs is another way to engage busier, seasoned employees with less time to serve but deeper pocketbooks. Liberty Mutual matches employee gifts to more than 11,000 eligible charities. The insurance company's volunteers are further incentivized by the chance to earn miniature grants for the charity of their choice. Totals reach $2,500 for those who have completed 100 service hours.

Some employees recently spent parts of more than six months consulting with More Than Words, a Boston nonprofit that provides work for youth ages 16 to 24 who have cycled through foster care, courts, homeless shelters or other systems. After surveying participants, Liberty Mutual employees identified a lack of front-end support, according to Naomi Parker, the nonprofit's chief advancement officer. Youth needed help obtaining transportation and food before they could hold down a job.

The volunteer commitments are now part of extensive ties that have seen a Liberty Mutual employee join the More Than Words board and more than $3.4 million committed to the nonprofit since 2013. Employees have given more than $85,000 including matches and other incentives.

"It doesn't turn into a LinkedIn post, right?" Parker said. "It's not a quick hit. It's real. It's deep. And it's not for show."

Volunteering can be a gateway to relationships beyond the otherwise costly, behind-the-scenes help provided by employees. The long-term partnerships in turn introduce budget-constrained nonprofits to new pools of donors.

Now is an especially good time to forge those connections given that Gen Z is forecast to overtake Baby Boomers in the workforce this year, said Blackbaud Giving Fund Executive Director Matt Nash. Over three-fifths of charitable donors recently volunteered with the organization they supported, according to a Fidelity Charitable report. As younger employees increase their earnings, Nash said, well-formed bonds can become especially lucrative for nonprofits.

Legendary Legacies Executive Director Ron Waddell had no expectations that Blue Cross Blue Shield employees would stay engaged with his nonprofit's work rehabilitating young gang members. Several IT specialists and data analysts had helped them better capture metrics on the success of their programs -- important for both feedback and grant applications. But many months later, one volunteer made a $200 donation in what Waddell considered a testament to their honest motives.

It wasn't "a performative measure to look good," he said. "You could tell folks were really invested."

---

Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit https://apnews.com/hub/philanthropy.

Continue Reading...

Popular

Elon Musk Gives One-Word Response To Joe Biden's Dig At Donald Trump At White House Correspondents' Dinner

Elon Musk reacted to President Joe Biden's recent comments at the White House correspondents' dinner with a one-word response that sparked some discussion on social media.

Southwest Airlines is considering changes to its quirky boarding and seating practices

DALLAS (AP) — Southwest Airlines is studying changes to its quirky boarding and seating policies as it searches for ways to .

You Need to Know These Two Things About AI Stocks ASAP... - Ad

One of the world's most successful investors just went public with what promises to be two historic predictions. Many high-flying stocks of AI's "First Wave" are about to come crashing down, and when it does, a "Second Wave" of AI stocks will explode higher thanks to "digital twin" technology.

Bill Gates Shares Heartwarming Scuba Diving Photo With Daughter On Her 28th Birthday: 'I'm In Awe Of How You Dive Headfirst Into Everything.'

Bill Gates and Melinda French Gates each shared heartfelt social media posts to celebrate their daughter Jennifer's 28th birthday, highlighting her achievements as a mother, medical student, and equestrian.

America Has New Type of Money, Making Some Rich...Should You Get It? - Ad

One of America's most controversial CEOs says, "A new form of money in America is making some people (including Elon Musk, Jeff Bezos, and 17 of America's 25 wealthiest individuals), rich. It has nothing to do with gold, bitcoin, or anything like that, but it's 100% legal. The problem? Few Americans have a real understanding of how it works.

The SEC charges Trump Media's newly hired auditing firm with 'massive fraud'

SAN FRANCISCO (AP) — The Securities and Exchange Commission on Friday charged an auditing firm hired by Trump Media and Technology Group just 37 days ago with “massive fraud” — though not for any work it performed for former President Donald Trump’s media company.

Elon Musk Issues Stark Warning Amid Rising National Debt: '...The Dollar Will Be Worth Nothing'

Elon Musk has voiced concerns about the future stability of the U.S. dollar, highlighting the escalating national debt as a potential catalyst for a looming economic crisis.

America Just Hit a Grim Milestone - Ad

Nearly half of U.S. households currently hold no retirement savings. Retirement expert Dr. David Eifrig says what happens next will separate a small number of winners from a very large number of losers. Learn how to protect yourself and your money with his four simple steps that he shares right here.

Elon Musk Shares Who He'd Want To Spend His Last Moments With In Response To Warren Buffett's Advice

Over the weekend, Elon Musk agreed with a sentiment shared by investment titan Warren Buffett about the importance of spending time with loved ones, despite their contrasting investment philosophies. 

Shell Exits Chinese Power Market, Eyes Gas Growth: Report

Shell reportedly exits China's power markets, focusing on bolstering profitability in natural gas and oil sectors. The move reflects a commitment to invest selectively in profitable ventures within the power sector, aligning with CEO Wael Sawan's vision.

Stock Alert: "Red Flag" Warning - Ad

The Wall Street legend who called the 2020 tech crash just issued a jarring warning about the AI market.

More cows are being tested and tracked for bird flu. Here's what that means

U.S. health and agriculture officials are and tracking of bird flu in dairy cows in an urgent effort to understand — and stop — the growing outbreak.

Lilly rides Mounjaro, Zepbound to better-than-expected 1Q profit despite supply issues

Rapidly climbing sales of the and its counterpart for diabetes, Mounjaro, pushed Eli Lilly to a better-than-expected first-quarter profit.

This Unknown Company Solves the Biggest Issue With AI - Ad

This one tiny company's breakthrough solves THE critical issue holding back Nvidia and the whole AI chip industry. Amazon has already invested $144 million and agreed to buy at least $650 million more. One expert predicts a major announcement could come any day...

Nvidia Joins $1.05B Wayve Funding, Advances Automated Driving

Wayve secures $1.05 billion funding, spearheaded by Nvidia and SoftBank, to revolutionize autonomous driving. CEO Alex Kendall's strategy prioritizes adaptable AI, setting the stage for Wayve's expansion and profitability.

The Man Who Bought Bitcoin at $5 Reveals His Next Tiny Crypto Gem for 2024 - Ad

Early Bitcoin Millionaire Charlie Shrem just revealed his five little-known crypto coins that he believes could create generational wealth over the next 12 months. What's more, some of these tiny cryptos he's discovered trade for less than $1!

Hope Hicks Testifies On Trump's Ex-Lawyer Michael Cohen's 'Mr. Fix It' Moniker: 'Only Because He Broke It First'

The criminal trial against Donald Trump saw former Trump aide Hope Hicks take the stand Friday and discuss Michael Cohen and the "Access Hollywood" tape.

Asia Up, Europe Mixed, While Yen Surges Against Dollar - Global Markets Today While US Slept

US stock markets closed higher, driven by strong earnings and mild inflation data. Asian markets also gained, while eurozone and oil prices dipped.

Biggest Hedge Fund Manager Has Huge Warning for U.S. Dollar." - Ad

Ray Dalio, the founder of Bridgewater has gone public with a huge waning about the U.S. dollar. He says: "We are printing too much... money as we know it is in jeopardy." Multi-millionaire analyst Porter Stansberry agrees and says a very lucrative new form of money is emerging in America. Should you get it? Stansberry explains full story here...

Three groups are suing New Jersey to block an offshore wind farm

LONG BEACH TOWNSHIP, N.J. (AP) — Three anti-wind power groups are suing New Jersey to overturn a key environmental approval for a wind energy farm planned off the coast of Long Beach Island.

Once Vehicles For Republican Presidents To Connect With Southern Whites, Motor Sports Are Shifting Away From Trump

The fading sway of Trump in motor sports suggests the breakup of the conservative-racing connection, as shown by recent developments at the Miami Grand Prix.

Controversial CEO Could Help You Retire Rich? You Be the Judge... - Ad

There's no shortage of controversial CEOs in America today... from Elon Musk to JP Morgan's Jamie Dimon. But only one CEO is willing to show you exactly how and why he cut his annual salary to $1... then made significant profits in a single day. He says, "There's a new form of money in America, and it's making some people wildly rich."

Warren Buffett Was Right! America's Billionaires Now Pay Lower Tax Rate Than Working Class For First Time Ever, New Analysis Shows

According to economist Gabriel Zucman, the effective tax rate of the 400 richest Americans in 2018 was 23%, slightly lower than the 24% rate for the bottom half of income earners. 

Angel Reese, Cardoso debuts watched widely on fan's livestream after WNBA is unable to broadcast

The WNBA debuts of Angel Reese and Kamilla Cardoso were widely watched on a social media who stepped in when the league's app couldn't broadcast the game.

The Mysterious Tale of "America's No. 1 Retirement Stock" - Ad

This factory of 53,000 employees, in Burbank, CA, was camouflaged to look like a sleepy suburb (with the help of artists, set designers, and painters from nearby Hollywood movie studios). The mysterious company behind this disappearing act is now being called "America's No. 1 Retirement Stock".

Prada focuses generational transition on artisans, expanding production and workforce in Italy

TORGIANO, Italy (AP) — The Prada Group is expanding its production footprint in Italy, including dozens of new jobs at its knitwear factory in Umbria, leaning into “Made in Italy” as integral to the brand’s ethos and developing new artisanal talent to ease the luxury group through a generational shift in its workforce.

Alibaba Q4 Earnings Due Tuesday: Spotlight On E-Commerce Business, Cloud Business, AI Initiatives

Alibaba shares remain significantly below their late 2021 peak, and investors are eager to see if there will be an inflection in fundamentals with the March quarter performance.

22 Countries Pledge To 3X Nuclear Power - Uranium Prices Soar 74% - Ad

Newswire says "Bull market continues in Uranium stocks." Who to pick? Well, exploration records show...

Poland is still not ready to adopt the euro, its finance minister says

WARSAW, Poland (AP) — Twenty years after joining the European Union, Poland is still not ready to adopt the euro currency, the finance minister in the pro-European Union government said.

"America's No. 1 Retirement Stock" (Name Inside) - Ad

According to the former Goldman Sachs VP -- who wrote a best-selling book on retirement -- one single stock stands head-and-shoulders above all others. And it should be the cornerstone of your portfolio. Have you heard of it?

Microsoft Introduces Isolated AI For US Intelligence To Analyze Secret Data: Report

Microsoft pioneers a groundbreaking move by introducing an isolated generative AI model exclusively accessible to U.S. intelligence agencies. This offline GPT4-based system, functioning in an "air-gapped" environment, promises heightened security for analyzing classified data, meeting the escalating demand for advanced intelligence tools worldwide.

Why UBS Shares Are Seeing Blue Skies Today

UBS Group AG reported strong first-quarter FY24 results, with sales of $12.74 billion and net profit of $1.76 billion. The company plans to cut jobs and complete a merger with Credit Suisse AG by May 2024.

Breaking News: Elon Musk Invents New Type of A.I. - Ad

According to 30-year Silicon Valley and Wall Street veteran, Eric Fry... A man who picked 41 plays that jumped 1,000%+... Elon Musk is about to shock the world again with this new type of A.I.... Mining new millionaires in the process.

China's president arrives in Europe to reinvigorate ties at a time of global tensions

PARIS (AP) — Chinese President Xi Jinping kicked off a three-country on Sunday with the continent divided over how to deal with Beijing's growing power and the U.S.-China rivalry.

Trump Unphased By Gag Order, Fines: 'Our Constitution Is Far More Important Than Jail'

Donald Trump has been fined $10,000 for violating a gag order 10 times. The former president said he will keep speaking out.

Urgent: Don't Repeat the Mistakes of the Dotcom Crash... - Ad

One of the world's most successful investors just stepped forward to say the same thing is about to happen to AI stocks...Many of today's high-flying AI stocks are going to crash and burn like countless internet stocks did in 2000. (You may own some of these AI stocks right now.)

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright activatrade.ca
Privacy Policy | Terms of Service