How can we try this, and what is the benefit to us?
David Reinstein is eager to help you implement this, and to test which methods work best for you, your employees, and the charities you care about. Contact him to discuss this further. Benefits include:
Your organisation will contribute to society through advancing research and promoting charitable giving. This is a great means of going beyond the regulatory minimum and showing good will in a post-2008 world.
Some of the research can be tailored towards your organisation's specific goals. You will gain from sharing ideas and tools with innovative researchers, which can help you achieve your organisation's goals.
Research stemming from this project will lead to a variety of popular, policy-oriented and academic publications. Being featured in them will give you exposure and be a boost to your image a thought-leader and innovator.
Working with researchers from the University of Exeter Business School is an opportunity to build mutually-beneficial relationships, which will increase your organisation's profile, and present it with exciting opportunities in the future.
Example design for an implementation
Fundraisers make specific appeals to employees who anticipate an unknown potential bonus being revealed and awarded at a certain time (e.g. 25 December). We will randomly assign employees into three groups.
- A1 - ‘Give from known bonus’: These employees are asked on 10 January, after they know their bonus, to donate a portion of it, to be collected in one week (17 January).
- A2 - ‘Give known bonus in 3 months’: Asked on 10 January, after bonus is learned, to donate a portion of it, to be collected in three months.
- B - ‘Give from unknown bonus in 3 months’: Asked on 10 November (before they know what their bonus will be) to pledge a portion of their unanticipated potential bonus, conditionally on the size of the bonus, to be collected on 17 January. Depending on feasibility, (i) the committed amount could be directly and automatically deducted from any bonus, or (ii) the employee could merely be reminded of their previous commitment after receiving their bonus.
Spring 2018 Innovations in Fundraising Conference:
"When Professionals Win, Charities Thrive"
Purpose: Engage like-minded individuals from across sectors in the impact project ‘Innovations in Fundraising’ during our one-day Spring 2018 conference in London, sharing practical insights, experiences, issues and concerns. Our key initiative, "Give If You Win", connects employee bonuses with philanthropy.The entire conference will last about six hours, including breaks and networking, but we welcome drop-in participants who can only spare an hour or so.
The proposed outline is HERE; your comments and suggestions are welcome.
- We will come together as finance and management professionals, academics, nonprofit workers, and philanthropists to share our knowledge and experience of what is possible, what works, and what is worth testing.
- We are targeting a real impact: this conference will be a success if it leads firms, fundraisers and researchers to plan specific tests and trials.
- Evidence from Dr. David Reinstein (Exeter Department of Economics) and others suggests that people are likely to be more generous with uncertain future income than with money they already have in the bank.
- In 2016, City Philanthropy held a Bonus Pledge Think Tank to consider ways to make the “City’s bonus pot become a force for good”, an application of "Give If You Win".
- “Give If You Win” has a very practical application for the financial sector - charitable fundraisers can ask for a commitment “if you earn a bonus, how much will you donate?“
Interested in attending? Please fill out the interest form and we will be in touch when the details are confirmed.