How Millennials Are Changing Philanthropy

In a workforce that is comprised of a rapidly growing Millennial base (by 2020, they will make up the majority of workers, and they currently sit at 25% and growing, according to Forbes), it is no surprise that the generation who reshaped the ideology of “meaningful impact” is causing such a stir in its philanthropic efforts.

Get up, go to work, go home – repeat until retirement. That was the mantra of Generation X, and for many, it offered the clarion call of life: hard work equals gratification. But Generation Y (aka, Millennials) began to question the wisdom of “work now, enjoy later.” Save, save, save, the X-ers would preach. But fresh out of school with newly-minted degrees in hand and aspirations much bigger than their budgets, Millennials sought to write their own stories, under different terms.

Their thesis was simple: work hard and enjoy life – and don’t wait until your mostly-dead to do so. Why wait to buy a nicer house or a bigger car? Enjoy them now. Why save for years to take the dream vacation, when you can take it now? Sure, these dreams are financed, but to a generation already saddled with the seemingly insurmountable weight of student loan debt…who cares?

Work Hard, Play Hard is a reality that more and more Millennials are embracing, and with the increase of disposable income comes a rise in charitable giving. Coupled with the Gen-Y desire to live a more experiential existence, the rise of philanthropy begins to make sense. In 2014, 84% of Millennials in the workplace were giving to charity, and that number is on the rise. Sure, they’re giving fewer dollars than Gen-X (lower wages, less financial security), but what they lack in dollars, they make up in sense. Live Now, Give Now will only increase with time, and small contributions become meaningful giving with dedicated practice.

How can you increase your engagement with this burgeoning group of world-changers? In short: captivate them. The Millennial mindset is driven by experiences, altruism, and a call to action. Philanthropy and community involvement is part of our DNA at Lockton. We’ve been successful at engaging all our Associates and harnessing their passion to make a difference through our corporate charter of philanthropy that supports more than 100 organization and charitable causes today. Among these causes, a number of worthy organizations to consider supporting include:

International Medical Corps

A global, nonprofit, humanitarian aid organization dedicated to saving lives and relieving suffering by providing emergency medical services, as well as healthcare training and development programs, to those affected by conflict, natural disaster and disease. 

The HELP Group

The country’s largest, most innovative and comprehensive nonprofit of its kind serving children, adolescents and young adults with special needs related to autism spectrum disorder, learning disabilities, ADHD, developmental delays, abuse and emotional challenges.

Phoenix House California

A leader in substance abuse prevention and treatment dedicated to helping young people, women, and men overcome addiction to live extraordinary lives in recovery. 

Vision To Learn

A nonprofit that provides free eye exams and free glasses to children in low-income communities throughout the U.S. so they can succeed in school and in life.

Originally published on TimNoonan.us

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