Discover the power of Payroll Giving – the ‘secret’ staff benefit
Payroll Giving Month is running throughout February to highlight this easy to facilitate staff benefit, which costs absolutely nothing for a company to offer, and is a great way to engage your employees in charitable activity.
Established by the Government over 35 years ago, the Payroll Giving Scheme empowers your staff to donate to any UK registered charity or good cause directly from their gross pay. Quick, easy, and cost-free for your company, Payroll Giving demonstrates a commitment to causes close to your employees’ hearts.
Payroll Giving is quick and easy to set up and administer and is a great way for companies of all sizes to demonstrate their commitment to causes that their employees care about. It can also aid retention and recruitment of staff, contributing to a healthy CSR program, and generates unrestricted, vital income for charities.
As a company you may also qualify for a Payroll Giving Quality Mark, which is a government-supported accreditation recognising organisations of all sizes for making Payroll Giving available to their employees. The Government endorsed awards showcase Payroll Giving excellence within businesses across the UK – celebrating achievement and praising creativity and dedication to tax-free giving.
But why is Payroll Giving such a fantastic staff benefit? For employees passionate about supporting causes, Payroll Giving allows them to contribute from their gross pay, meaning they can donate more for less. With every £1.00 donated only costing them 80 pence, or even less for higher-rate taxpayers, this innovative scheme helps them save money on their charitable contributions.
In a world where Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) practices are crucial, Payroll Giving stands out. As more companies recognise the value of Payroll Giving, it has the potential to become a cornerstone of CSR.