1% Companies are for-profit businesses that partner with PIF to develop an opt-out donation system for employees. This process allows employees to sacrifice a portion of their income to worthy causes. In many cases the company even offers to match these contributions!
Philosopher Peter Singer, in his work The Life You Can Save argues for this type of near-compulsory donation:
"If major corporations, universities, and other employers were to deduct 1 percent of each employees salary and donate the money to organizations fighting global poverty, unless the employee opted out of the scheme, that would nudge employees to be more generous and would yield billions more for combating poverty." (73)
In Germany, where people must opt-in to organ donation, only a mere 12% of the population is registered to donate organs. In contrast, in Austria the role is reversed--people must opt-out of organ donation. The amount of organ donors in Austria is 99.98%.
When something so simple is put in front of someone, such as sacrificing 1% of their income to a worthy cause, it subconsciously lowers the commitment—but the impact is still phenomenal.
If you are interested in learning more about how you can become a 1% Company please feel free to contact us and we will help you get started!
Part of our mission is to educate and equip individuals with tools, resources, and information for more sustainable and effective charitable giving. When a new company commits to the 1% Company Program we offer training that educates employees about high impact charitable giving using the concept of Effective Altruism. Each employee is then given the opportunity to offer recommendations on which causes will ultimately benefit from the 1% Company program funds. After the program is started we do a number of things to add additional value for employees such as:
Nearly $10 billion of corporate matching donations are left on the table annually. By partnering with PIF to integrate an opt-out program, your employees will be more likely to participate in charitable giving. Our focus on more effective giving also means that your employees will be able to increase their personal impact without requiring them to increase the amount that they give.
Companies do not have to match employee contributions to become a 1% Company, but we certainly encourage them to. Here are just three simple reasons why we believe each company should consider matching employees...
Click Here to see a list of companies that have adopted this program.