JB Hi-Fi Saving to the Tune of $8M With Workplace Giving Program
4 July 2018 at 9:09 am
Entertainment retailer JB Hi-Fi is enjoying the benefits of giving, saving $8 million per annum on staff recruitment and training because its corporate charity program improves employee engagement and retention, the company says.
The company’s Helping Hands workplace giving initiative, established in 2008, provides 12,000 employees the opportunity to donate to nine charity partners through regular payroll donations.
All donations are matched by the company, the program involves 80 per cent of staff, and has generated more than $15 million so far for its charity partners.
JB Hi-Fi recently commissioned a report on the program from Workplace Giving Australia, and discovered the positive impact of workplace giving on workplace culture, employee engagement and ROI:
- 91 per cent of staff felt proud to be a JB Hi-Fi employee
- 76 per cent thought that workplace giving made JB Hi-Fi a better company to work for
- 65 per cent of workplace giving employees felt more actively engaged in their work.
Workplace Giving Australia CEO Jenny Geddes was asked by Pro Bono Australia how could other businesses get something similar happening.
“Workplace Giving Australia supports employers in the establishment of efficient and low-cost payroll giving programs,” Geddes said.
“Workplace giving programs are one of the easiest, efficient and ethical ways businesses can engage their employees in community partnerships.
“The most successful workplace giving programs are those where employees understand how the program fits with the organisation’s culture and where the organisation can easily report back to staff on the difference they are making to their charity partners and, as a result, to society.
“In addition to making a material difference, in the process we see inspiring examples of improving employee engagement with their employer. Workplace giving really is a win for all.”
The Helping Hands program has “saved JB Hi-Fi $8 million per annum by improving employee engagement and retention so much that it has reduced the direct costs associated with staff recruitment and training”, a company statement said.
JB Hi-Fi CEO Richard Murray was asked how the company became involved in the program.
“Helping Hands was born from our recognition that our employees at JB Hi-Fi want to contribute to their communities in meaningful ways, and we wanted to give them an opportunity to do so in their workplace,” Murray told Pro Bono Australia.
“We partnered with Workplace Giving Australia to develop a custom workplace giving program that reflects our values and our company culture.
“It’s been a success since its launch in 2008, engaging the majority of our team with 80 per cent of our national workforce donating weekly.”
Philanthropy Australia CEO Sarah Davies said it was well known that pro-social behaviour (giving and volunteering) benefited the donor through increased physical and emotional wellbeing.
“We also know that employers who, with their employees, engage meaningfully and with purpose with the community, see benefits in terms of employee engagement, satisfaction and retention,” Davies said.
“So it’s great to see some clear analysis and evidence that measures the benefits to employers in a quantifiable way.
“Making the economic case as well as the social and wellbeing case is important – this is a great analysis and a terrific outcome for an outstanding workplace giving program.”