Small Business Finance News
Small Businesses Motivate Employee Generosity During The Holidays
Written by Tim Morral
Published: 12/23/2011
Small businesses are known for their generosity. Now some SMB owners are devising creative ways to inspire generosity in their workforce.
In general, small business owners and entrepreneurs are a very generous group of people. From sponsoring local kids clubs to donating merchandise to the nonprofits, SMBs play a vital role in serving their local communities.
Despite a tough 2011 economy, many entrepreneurs and small business owners are stepping up their efforts to invite their employees to participate more fully in holiday giving. Recognizing that it's been a financially difficult year for some of their workers, some SMB owners are equipping their workforce with both the motivation and the means to give to others.
For example, Reznick Group, a top 20 national accounting firm, has created a program designed to encourage their employees to engage in giving this holiday season. Reznick's "Pay It Forward" campaign gave the company's 1,100 nationwide employees an extra $25 in their last paycheck in November, urging employees to use the fund to make a donation to a charity of their choice.
"We hope to motivate our employees to embrace the spirit of giving that accompanies this season and donate, not just the money given to them for that purpose, but whatever they can spare on their own," said Reznick Group Managing Principal and CEO Kenneth Baggett. "We're lucky to be employed and secure during this tough economic time and we want to give back to those who aren't as fortunate."
Although Reznick Group's "Pay It Forward" effort is in its first year, the company has created a special area on their employees' intranet sit, allowing workers to track efforts with the hope that it will inspire even more personal giving during the holidays and throughout the year.
The end of year is also a good time to make charitable business contributions because doing so can lower small business tax obligations. To be able to claim a business deduction for a nonprofit donation, the business itself must be responsible for its small business charitable giving, rather than having the donations come directly from employees.
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