Modern Giving With Pinkaloo’s Gideon Taub
No longer the butt of jokes about $12 avocado toast, the Millennials have grown up. They’ve graduated college and are finding their way in the workforce. They’re flexing their purchasing power. And these 22- to 37-year-olds tend to choose companies—both to work for and to buy from—that make a social impact.
Recent headlines, peppered with question marks, are pondering the issue. Forbes asks, “Want to Engage Millennials? Try Corporate Social Responsibility.” Entrepreneur queries, “Millennials Want Transparency and Social Impact. What Are You Doing To Build A Millennial-Friendly Brand?”
Gideon Taub, founder and CEO of Pinkaloo, has studied this issue as well, and he’s become something of an expert. He knows that the desire for social consciousness extends to employment choices.
Streamlining Social Impact
“87% of employees expect their employer to support the causes that matter to them,” Taub explains. “And 40% of consumers change a buying decision based on their purchase supporting a cause.”
As a result of these statistics, Pinkaloo was conceived. The aim? To provide companies with a way to build stronger relationships with both customers and employees through philanthropy. Pinkaloo’s recent partnership with ADP, for example, empowers ADP payroll customers to enroll and onboard their company directly from the ADP Marketplace into a Pinkaloo Modern Giving program.
“We are seeing companies incorporate giving into their recruiting and retention programs, customer acquisition and loyalty strategies, and to amplify their corporate giving as well,” Taub says.
But philanthropy not only expresses a spirit of social-mindedness and responsibility to customers, but woos prospective employees as well. And Pinkaloo is focused, as Taub explains, “on helping any employer recruit and retain the best talent through modern workplace giving programs.”
A Personal Mission: Greater Impact
But inspiration behind the creation of Pinkaloo wasn’t limited to courting socially-minded consumers and employers. There was a personal motivation.
Taub, who previously helped build the video advertising platform Videology, wanted a career where it was possible to chart his impact on society. “Now I see [that impact] everyday!” he says.
That impact can be observed in terms of figures—Pinkaloo reports hundreds of thousands of dollars have been donated within a brief time. But Taub also sees Pinkaloo’s impact in terms of filling a much-needed role in the world of philanthropy.
“We built Pinkaloo’s Modern Giving platform to solve a need that we and our friends were experiencing with our personal charitable giving, including budgeting, discovering, collaborating, and managing our donations, as well as having confidence that our donations were being made securely,” he says.
Solving these needs has had, as far as Taub sees it, a democratizing effect on the giving process. Every little bit counts, but issues like messy or opaque finances have stopped a lot of people from experiencing the satisfaction of charity.
Things are further complicated by concerns regarding highly sensitive, personally identifiable information. But according to Taub, these concerns have been assuaged by working with AWS. Now that Pinkaloo is backed with an infrastructure that includes “best-in-class security and encryption capabilities,” processes like compliance and diligence reviews become streamlined, opening the door for philanthropic action.
“Anyone can easily support the causes they’re passionate about,” Taub says. “And any company, regardless of its size, can offer its employees an empowering workplace giving program.” Which is pretty much the definition of making a social impact.