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Yahoo's hands-on approach to social responsibility
January 24, 2011 | Length: 00:02:52
A lot of companies have employee-giving programs, but Yahoo is putting a unique spin on social responsibility. SmartPlanet takes a look at how Yahoo is empowering its employees to donate money to those in need.
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MUSIC
>> This is really a huge issue. People who are actually dying because they can't even have access to clean water --
>> Sumi Das: It's early evening in Silicon Valley, and Lisa Nash and Christina Lee are are in front of Yahoo's employee foundation advisory board.
>> -- find a way to actually help inaudible fund --
>>
Das: They're hoping to raise money for the Blue Planet Network --
>> -- so in the proposal this year --
>>
Das: -- a non-profit organization that works to provide safe drinking water to developing countries.
>> We're asking for a grant of 40,000 dollars, which will allow us to bring safe drinking water for life to 1800 people.
>> One of the things I looked at in your application --
>>
Das: In two months' time, they'll find out if they've received the grant.
>> That makes us a stronger organization.
>>
Das: Blue Planet is one of hundreds of non-profits pitching Yahoo's employees for grant money. It's a unique program Yahoo created in 1999 that helps its employees to be more socially responsible. The idea is simple. Yahoo has set up a fund that its employees can donate to, and from that fund, employees champion their favorite cause. The average employee donates about a hundred and thirty dollars per year, and for extra incentive, the company matches up to 1000 dollars of contributions annually. Connie Chan is a manager with the program and works with Yahoo employees through the grant process.
>> Connie Chan: It starts off with an employee who's really excited about an organization and wants to get them a grant up to 40,000 dollars.
>>
Das: Yahoo employees then get to participate in an approval process. Don McLean assumed spelling sits on Yahoo's advisory board of 20 members.
>> Don McLean: We listen to what the organizations have to say, and we ask questions about their budgets, about their organization, who they help, what kind of metrics they use to evaluate the success of their programs.
>> -- not only that, but they're also providing some money --
>>
Das: The advisory panels can be a little tense, as Yahoo employees sit side by side with their organization's leaders lobbying for their cause.
>>
Chan: It's a very competitive grants process, and so we get about 200 grant applications per year, and we probably fund about half of them.
>> And we test our students --
>>
Das: Since the program started, Yahoo employees have given more than 11 million dollars to organizations.
>> -- and getting the support to do our first --
>>
Das: And now Blue Planet can be added to the list. Nash was recently awarded a grant for 40,000 dollars.
>>
McLean: I think a lot of organizations have employee giving programs, and ours is a little bit different in that the employees get a more hands-on approach in deciding where that money gets sent.
>>
Das: For Smart Planet, I'm Sumi Das.
>> -- and get feedback on --
MUSIC
==== Transcribed by Automatic Sync Technologies ====