Get the latest delivered to your inbox
Privacy Policy

Now Reading

Prudential Financial Leads The Charge In Corporate Sponsored Volunteerism

Prudential Financial Leads The Charge In Corporate Sponsored Volunteerism

Published 10-03-02

Submitted by Prudential Financial, Inc.

Newark, N.J. – Despite a heightened focus on corporate responsibility, a new study released today found that American workers now believe their companies are pulling back just when they should be giving back.

According to a recent national poll conducted by Prudential Financial, more than 80% of employees express a willingness to participate in company volunteer programs. Yet, only 54% believe that their employer encourages volunteerism, a 12% decline since 1998. And, only two out of five companies that do provide volunteer programs encourage family involvement.

“Many companies offer volunteerism opportunities. But our research shows there is still a gap in mobilizing even more employees,” says Arthur F. Ryan, chairman and CEO of Prudential Financial. “We have long believed it’s important for employees to take an active part in improving the places they live and work through volunteerism. That’s why we sponsor events, like Global Volunteer Day. We hope events like this will inspire other companies to develop similar volunteer programs.”

Other findings in the survey of American workers include:

- 83% of part-time employees say they would participate in a corporate-sponsored program

- Two out of five companies encourage family involvement in volunteer programs.

The survey findings are being released as part of Prudential Financial’s eighth annual Global Volunteer Day to be held on Saturday, October 5th, 2002. Since 1995, Prudential Financial has sponsored Global Volunteer Day, which was created to celebrate its employees’ contributions to the communities in which they live and work.

This year, approximately 37,000 Prudential Financial employees in 20 countries will donate hundreds of thousands of volunteer hours. Each event is selected and organized by the employees.

Last year’s Seventh Annual Global Volunteer Day resulted in 837 projects being carried out in 57 towns and cities in the U.S., Puerto Rico, Canada, Italy, Ireland, the Netherlands, Poland, Hong Kong, Japan, Taiwan, Korea, the Philippines, Dubai, Singapore, Uruguay, Paraguay, Chile, Brazil and Argentina.

“Global Volunteer day gives us a chance to give back to the community and fulfill our employees’ desires to volunteer. But our commitment doesn’t stop there,” says Gabriella Morris, vice president of Prudential Financial’s Community Resources Division and president of The Prudential Foundation. “Prudential Financial encourages volunteerism year round by sponsoring ongoing volunteer programs with corporate donations as well as recognizing individuals who make our neighborhoods better places to live.”

During Global Volunteer Day, volunteer projects that meet selected criteria earn a $1,000 Challenge grant from The Prudential Foundation, which is donated to the partnering non-profit organization. Last year, the foundation donated nearly $200,000, a 14% increase from the previous year.

Prudential Financial’s philanthropic efforts are driven by the Community Resources department -- a combination of three units: The Prudential Foundation, an independent nonprofit grant-making organization funded by Prudential; Social Investments which originates and manages projects designed to revitalize neighborhoods; and Local Initiatives, which coordinates volunteer efforts by Prudential employees and works to address needs in specific communities.

Prudential Financial’s Global Market Research division conducted the employee volunteerism poll in August 2002. 647 employed U.S. residents aged eighteen years and older were surveyed. The findings were then compared to a similar study conducted in 1998 when similar questions were asked.

Visit the online press kit at www.prudential.com/gvd for more information on Global Volunteer Day 2002.

Prudential Financial companies, with approximately $557 billion in total assets under management and administration as of June 30, 2002, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the U.S. These companies offer a variety of products and services, including life insurance, property and casualty insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises and relocation services. In addition to donating thousands of employee volunteer hours each year, Prudential supports a wide variety of non-profit programs benefiting local communities across the United States and beyond. For more information, visit www.prudential.com

Trend Research:

In August 2002, Prudential Financial surveyed nearly 650 U.S. residents on their employers’ volunteer involvement. Researchers compared the results to a similar study they conducted in 1998. Here’s what they found:

· 54% of respondents say their employer encourages volunteerism, compared to 62% in 1998. The biggest decline was in part-time employees.

· Less than half of employees report their employer sponsors volunteer programs.

· There was a 12 percent drop over the last four years in the number of employees who say their employer sponsors volunteer programs.

· 80% of respondents say they’d participate in a corporate sponsored program.

· 83% of part-time employees said they would participate in a corporate sponsored program.

· Two out of five companies encourage family involvement in volunteer programs.

· 51% of employees in the 35-44 age group say their employer encourages family participation.

Prudential Financial, Inc. logo

Prudential Financial, Inc.

Prudential Financial, Inc.

Prudential Financial companies, with approximately $568 billion in total assets under management as of June 30, 2006, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States. These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement-related services and administration, asset management, banking and trust services, real estate brokerage franchises, relocation services and, through a joint venture, retail securities brokerage services.

More from Prudential Financial, Inc.

Join today and get the latest delivered to your inbox