How businesses can inspire millennial philanthropy

A ‘cheat sheet’ showing four actionable ways businesses can stimulate charitable giving from the next generation.

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Research published by Beacon Collaborative and Savanta in April 2021 filled a gap in knowledge about millennial philanthropy. The report revealed insights into the ways wealthy young people give and their attitudes towards philanthropy.

One revelation was that young people – who are still overwhelmingly in the money-making phase of their careers – feel anxious about giving big amounts of money to charity. However, they do show great enthusiasm for being engaged in philanthropy in ways which are convenient and are proportionate to their wealth level. Many participants told us they would value their employer making it easier for them to give.

Initiatives such a match-funding drives, payroll giving and strong business-charity relationships were celebrated by our young givers. Based on their feedback, we have collated a one-page ‘cheat-sheet’ for businesses, explaining four implementable steps they can take to increase millennial philanthropy.

Our research suggests that following these steps will lead to happier and more engaged young employees, who feel enabled and encouraged to embark on their philanthropic journey.