When budgets get tight, social impact programs are usually the first thing on the chopping block. I think that's one of the most expensive mistakes a company can make.
Here's why. We tend to file volunteering, giving programs, and community partnerships under "nice to have." A perk. Something we do when times are good. But the data tells a different story: employees who participate in corporate purpose programs show up to 52% lower turnover. People who volunteer through their employer are 57% more likely to stay.
Run the math on what it costs to replace even one good person — recruiting, onboarding, lost momentum — and suddenly that "nice to have" looks a lot like one of the cheapest retention tools you have.
And this isn't a fringe view. Even in a year of real political and economic pressure, most companies are holding their impact budgets steady. They're not doing it out of charity. They're doing it because they've seen what these programs return: engagement, loyalty, and people who feel connected to something bigger than their job description.
I've watched it happen up close. The energy in a room full of colleagues building something for their community is different. People meet teammates they'd never cross paths with. Quiet folks step up and lead. They come back to work on Monday more connected to the company — not less.
So if you're a leader staring at a spreadsheet right now, deciding what stays and what goes, I'd ask one question: what does it signal to your people when the first thing you cut is the thing that proves you care?
Keep the program. Your retention numbers will thank you.
What's your experience — has a social impact program ever made you stay somewhere longer? I'd love to hear it.