Giving back has become more common in the corporate world in recent years, with statistics showing that 65% of US companies now offer employees paid time off to volunteer. But some companies truly stand out when it comes to corporate philanthropy. Strategic Wealth Designers (SWD) is one of those companies.
Through its SWD Cares initiative, SWD encourages employees to create positive and lasting change in the communities where the company operates. To ensure it can sustain its efforts in those communities, SWD gives its employees unlimited volunteer time.
“Giving back through SWD Cares is a huge part of who we are as an organization and directly supports one of the foundational elements of our culture: gratitude,” says Laurin Scaffidi, Director of Culture and Strategic Initiatives at SWD. “Volunteering allows our team to approach both our work and our relationships from a place of appreciation and service. Providing unlimited volunteer time gives our employees the opportunity to support organizations that are meaningful to them and impactful within their local communities.”
SWD was founded by Matthew Dicken in 2002 with the mission of helping retirees and pre-retirees find financial confidence, comfort, and freedom. SWD has served the financial needs of over 5,000 individuals and families across the US. Dicken launched SWD Cares to formalize the numerous charitable efforts he, his wife, and SWD were involved in.
“Providing unlimited volunteer time allows us to reinforce the idea that our mission extends beyond retirement planning,” Scaffidi says. “We’re here to help people in meaningful ways wherever we can.”
Unlimited volunteer time boosts productivity at Strategic Wealth Designers
SWD offers its employees unlimited volunteer time because it wants to see those in the community benefit. But the benefit has also brought value to the company.
“I think many companies worry that allowing employees time away from work will negatively impact productivity,” Scaffidi says. “In reality, we’ve found the opposite to be true. When employees see their company genuinely values giving back to the community and supporting those in need, it creates stronger engagement, loyalty, and buy-in across the organization. We’ve even seen team members become even more willing to go above and beyond outside of traditional ‘9-to-5’ hours because they feel connected to a larger purpose.”
Scaffidi also says SWD’s commitment to volunteerism has become an important part of the company’s recruiting process and employer brand, attracting individuals who genuinely align with the company’s core values and who want to be part of a purpose-driven organization.
A formal volunteer program helps Strategic Wealth Designers maximize impact
The success of SWD Cares offers a number of lessons for companies looking to launch or improve volunteer programs. The first lesson involves identifying the goal.
“Companies should start by determining what they want their volunteer and community engagement efforts to accomplish,” Scaffidi shares. “At SWD, giving back is one of our core pillars as a company, so volunteerism is intentionally built into our culture and expectations from day one.”
Scaffidi also recommends that companies create a formal and well-organized volunteer program to support their philanthropic efforts. Having a dedicated group within the company to help coordinate volunteer initiatives makes it easier for employees to contribute in meaningful ways.
“Our SWD Cares team works closely with individual offices to identify causes that are meaningful to employees, coordinate logistics, schedule events, and ensure participation opportunities are accessible,” Scaffidi shares. “They also help communicate volunteer opportunities to our clients, which has created an even greater level of community involvement. We love involving our clients whenever possible because it creates opportunities to connect on a more personal level while also increasing support and visibility for the organizations we partner with.”
Strategic Wealth Designers says trust is central to an effective volunteer program
To foster an impactful volunteer program, companies should make sure employees understand that the volunteer time they are offered doesn’t excuse them from their work responsibilities. Employees need to know that they must continue to support their company’s success while supporting the organizations where they volunteer.
“Volunteer time requests submitted during the workweek are entered through our human resources information system and approved by leadership,” Scaffidi explains. “Our leaders understand the operational needs of the business and can appropriately balance business priorities with volunteer opportunities. It’s also helpful that we offer multiple opportunities to volunteer throughout the year, so if an employee’s request for a certain date isn’t able to be approved, there are other opportunities for them to provide support at a later date.”
SWD hasn’t seen employees take advantage of the unlimited volunteer time policy. In fact, Scaffidi says most employees are highly respectful of their teams and work hard to ensure their responsibilities are covered while they’re volunteering.
“One of the biggest keys to making this kind of system work is trust,” Scaffidi says. “Trust your leaders and your employees to do the right thing unless there’s a reason not to. Strong leaders know their teams well and can quickly identify issues if they arise.”
Programs that offer unlimited volunteer time to employees can have a positive impact on both the communities where those employees live and the companies where they work. To see those programs work well, companies should take steps to guide employees toward a common goal, support them with a formalized system, and trust them to respect the program and its goals.