Employee Benefits and Wellness Excellence - October 2023

Page 36

4 Reasons To Rethink Charitable Giving As A Workplace Benefit Innovative benefit strategies for financial wellness and philanthropy By Tayo Ogunnaike, Morgan Stanley at Work

W

ith the end of the year around the corner, many of us are beginning to put a bow on our final financial plans and charitable donations. Yet, as we look for ways to extend kindness to our neighbors, communities, and causes we care about in the wider world, many of your employees may be struggling to find a way to balance their own financial goals against the desire to do some good.

determining what to do with it. Charitable giving is an important way to help fill our cups, building stronger connections to the wider community while also giving us a greater sense of purpose. Bringing this sense of meaning into your workplace benefits suite alongside more traditional fare can create new opportunities to enrich your professional culture and support employees in managing their money in a way that also helps them feel empowered to give back.

The trend of employees looking to their employers for financial support is only growing stronger, whether it’s financial guidance, retirement planning, or education reimbursement. Charitable giving is no exception, especially in an uncertain economic climate where many of us are looking for ways to minimize costs and prepare ourselves for the upcoming tax season. Here are four reasons why offering support and benefits around this important element of personal finance might be worth adding to your workplace roster.

1. Charitable giving benefits can contribute to a culture of meaning and support The workplace has become the go-to resource for employees to address their personal financial needs, both in terms of generating income and

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OCTOBER 2023

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