Asset Managers Finding That Philanthropy Benefits Both The Community And The Workplace
Pensions & Investments reports that philanthropy has long been part of the asset management industry, as a recent poll by the publication has found that a commitment to “community service and volunteerism is nearly ubiquitous” across the sector. In addition to the social benefit, however, “money managers are finding that a philanthropic culture is an increasingly important factor in employee recruitment and retention.” Voya’s Christine Hurtsellers said that the company’s “extensive philanthropic program is making a favorable impression on its investment management clients,” with employees donating 42,000 hours to charity last year and the company offering 40 hours of annual paid time off for volunteerism. “I want people to get out of their offices and work on projects like building houses for Habitat for Humanity or Covenant House, a national agency that helps homeless youths,” Hurtseller said. “I want people to get to know each other.”