The business case for giving back: How community engagement strengthens firms and their people

Giving back feels like something that has always been a part of my life.

Perhaps it’s because I was raised in a family that cared for others. We didn’t have a lot, but I watched my parents, grandparents, aunts and uncles regularly lend a helping hand to those around them.

As I started my career, I was fortunate to find myself surrounded by people who shared those same values. That’s one of the reasons working at Mariner feels more like being part of a family than just having a job.

One of the greatest joys I’ve experienced during my time here has been through my involvement with the Mariner Foundation. The foundation is driven by our associates’ philanthropic passions, which allows us to create positive change in our communities. Over time, I have witnessed firsthand giving back isn’t just good for the community, it’s also good for business. 

Since 2023, Mariner has been a member of the Net Positive Consortium in Wealth Management (NPC), a network of industry leaders committed to creating a better future. The goal of the NPC is to come together to share our collected experiences, best practices, learnings and programs with each other and with the industry, with the hope of inspiring other firms to join us on the net positive journey. Through initiatives such as the Mariner Foundation and our annual +Impact Day, Mariner has established itself as a steward of positive change in and among our communities. These programs have strengthened our culture and deepened our purpose, and they’re a big part of why I believe every firm should consider doing the same.

Firms have a responsibility to the communities in which they live and work

Businesses don’t operate in a vacuum. They’re part of the communities they call home, and when firms commit to service and community engagement, the ripple effects are real. It strengthens trust, opens doors for collaboration and reinforces a company’s presence in ways that advertising and marketing alone cannot. Contributing time, resources and expertise builds lasting relationships. In turn, these connections create goodwill, build trust and help shape a healthier, more supportive environment for doing business. 

Employees want to feel that their work matters

Employers want an engaged workforce, and employees want to feel that their contribution is aligned with a purpose to which they can connect. According to Gallup in a recent study on the post-Covid corporate work environment, “People want to know their work matters and that their employer makes a difference in the world.” Yet that same study showed only 30% of employees today feel connected to their company’s mission/purpose. It’s our responsibility as business leaders to cultivate workplaces where people feel connected, valued and inspired by the difference their organization makes.

Philanthropy drives employee retention, recruitment and engagement

At Mariner, we pride ourselves on our client-first culture. That is, our clients' best interests guide our decisions in all that we do. Beyond that, we are a people-first organization. We give the same level of care and attention to our clients that we give to our associates. We empower associates with meaningful opportunities to make an impact beyond the desk and become more involved in their local communities, because we want them to feel connected to the firm’s values.

When employees have a voice in decision-making, it creates a sense of shared ownership in the company’s impact in the world, which causes engagement rates to rise. Volunteerism is the perfect place to start, and research supports that sentiment. A 2023 global study by Ares Management of more than 5,000 full-time workers found that 79% of employees who volunteer through work-sponsored programs are satisfied with their jobs, compared to 55% who don’t volunteer in such a way. When employees can support causes they care about, their passion for the job often follows.

As part of our ongoing commitment to our communities and to our associates, in 2024, we launched our first annual +Impact (“positive impact”) Day. On this day, nearly 800 associates across 68 Mariner locations embraced the firm’s culture of positively impacting the lives of many by partnering with more than 70 organizations to serve their local communities. +Impact Day is an extension of the Mariner Foundation, which has awarded over $7.8 million to more than 1,100 organizations since its founding in 2009. Associates contribute generously, and Mariner matches their donations dollar for dollar.

Communicating goodwill communicates success

We’ve drawn inspiration from others on how to lead by example, take pride in our positive impact, and thoughtfully share the difference we’ve made in our communities. We detail this work in our recently published Mariner Foundation Impact Report. When we celebrate our efforts and a job well done, it's not just about recognition, but about inspiring others to do similar work in their own organizations. By increasing transparency around these initiatives, we hope to encourage shared learning across the industry.
 
Mariner has learned so much from our peers in the NPC, and we’re grateful to have both the resources and the responsibility to pay that goodwill forward and inspire continued action in our own communities. The more committed we are to creating lasting, positive change, the stronger our communities – and our firms –will be. I invite other firms to consider how you can also create a net positive impact, starting with your people and your communities. 
 

Katrina Radenberg is chief investment officer at Mariner. An investment industry veteran with more than 20 years of experience, she oversees the firm's charitable giving efforts as president of the Mariner Foundation.