Aiding Employees at SBP
SBP considered new ways for deploying its resources to support employees and foster a corporate culture in line with its Core Value: “Use Your Influence to Have a Uniquely Positive Impact on People.
President and Chief Executive Officer
“The majority of our Impact fund has been donated by investors, board members, and Senior Management at SBP. While we promote generosity, we are making a significant difference in the lives of a lot of our teammates just at the time they need it most. Impact is one of the ways that we lean into our core value of ‘Use Your Influence To Have A Uniquely Positive Impact On People.’ We are just getting started and excited to continue building this program”
In recent years, SBP considered new ways for deploying its resources to support employees and foster a corporate culture in line with its Core Value: “Use Your Influence to Have a Uniquely Positive Impact on People.” The management team launched Impact, a standalone non-profit organization created to provide financial relief for SBP families in crisis.
Impact acts as a bridge between families in crisis and donors including SBP’s employees, investors, and leadership. The program was built with certain standards that are key to The Company’s values:
- No donor funds are used for administrative costs. SPB pays for all administrative costs to allow for grantees to receive 100% of donated funds.
- Donors receive reports with full financial transparency. This is key for employee donors seeking confirmation that their teammates are receiving 100% of their donations.
In 2022, the Impact program was rolled out across the Company for grant applications which are reviewed by the Selection Committee, a group of eight SBP employees from different locations, positions, and tenure. For each application, they receive anonymized information on the potential grant recipient, have meaningful discussions, and conduct a vote.
Members of the Selection Committee went on a road show visiting all SBP branches to help make all employees aware of and provide access to these resources. In its first full year of operation, the organization made 37 grants valued at more than $85,000. SBP intends to expand the number and value of grants awarded to SBP employees as it continues to raise funds from its stakeholders.
It should not be assumed that the investment above was or will be profitable. Please see “LEGAL” page for important information regarding this content.
