The Power of 1%
One Company’s Philanthropic Approach, From An Employee Spouse’s Perspective
In late 2011, my husband came home with a pair of military-style boots. He really didn’t need another pair of boots, so I very politely inquired, “What are those for?”
He explained that his company, Veterans United, gave a pair of combat boots to every employee who committed 1% of each 2012 paycheck to the newly formed corporate foundation, Veterans United Foundation. Not being a huge fan of forced giving, I asked whether it was really optional and what percentage of employees were participating.
His response — Definitely not forced, though the boots were a good initial incentive (yes, of course, he would enjoy yet another pair of shoes); something like 99% of employees were participating. Also, the company was matching employee donations dollar-for-dollar.
That’s impressive, I thought, and then pretty much forgot about it.
Then, at last year’s VU Christmas Party, I got to see a compilation video of the impact Veterans United Foundation had made over the course of its first year. As a company that provides veteran home loan services, the variance in initiatives — from reconfiguring homes for disabled veterans to supporting local causes to helping a veteran to get a service dog to supporting existing charities — was truly inspiring.
The entire room, filled with over 2,000 people, erupted with applause. There was no question that the money was well-spent.
One percent. No one really noticed it missing from their paycheck, and depending on one’s level of personal giving, there was conceivably still plenty to allocate autonomously. Yet, the employees had raised over $1 million in under a year, which was then matched by the company.
For my husband, it’s been a source of job-oriented pride. To me, it’s a lesson in how small strategies can make a big impact.
This year’s VU Christmas Party is taking place on Saturday night. In terms of a party, I’ve never seen anything like it. Seriously, they should establish an events business segment. However, what I’m most looking forward to is seeing how far this year’s 1% has gone.
And today, I got a preview in my Facebook feed that prompted me to write this post:
The employees donate the money to help others. But when they’re in need, the foundation supports them as well.
One percent. A pretty easy corporate philanthropic philosophy with unquantifiable cultural influence.
Good work, VU.
- A Proud Spouse
