However COP26 left you feeling (sheer despair or a sliver of hope), it’s clear that companies need to take action against climate change.
Europe’s leading HR platform for small and mid-size enterprises (SMEs), Personio, is now supporting those who wish to battle the changing tide.
The company has unveiled the creation of Personio Foundation, an independent and not-for-profit organization offering financial and business support to non-governmental organizations (NGOs) and social enterprises.
On top of its climate initiatives, the foundation will also focus on education as it recognizes that COVID-19 has wiped out 20 years’ worth of education gains.
How will the foundation work?
In order to set up this foundation, Personio followed a similar tactic to emerging companies like BetterUp. Personio committed 1% of the company’s equity for good causes.
Safe to say, as the value of Personio has soared, so has the value of this commitment. Currently, the 1% stake is currently worth $63 million and will continue to grow until an IPO is held. To add to this and drive progress, Personio’s founders, investors, and the company itself have given $3 million in cash donations.
The founders of Personio – Hanno Renner (CEO), Roman Schumacher (CPO), Arseniy Vershinin (CTO), and Jonas Rieke (COO) – will be closely involved in strategy while receiving advice from Nicola Crosta, founder of social impact company Impact46. There will also be a dedicated team of staff who will work on the running of the foundation.
The foundation will be open to applications across the globe and will offer financial and non-financial support via two flagship programs. Those who successfully apply to the Impact Portfolio will receive unrestricted financial grants and collaborative mentoring. On the other hand, those on the Impact Accelerator will be equipped with knowledge and HR advice to help grantees grow their people.
Initially, recipients of these grants will be selected and sourced by the team running the foundation. The selection process will consider ten criteria covering the robustness of each organization and its potential impact. Further into 2022, a global call for proposals will launch through the foundation’s website and social media.
Speaking about the initiative, Hanno Renner, co-founder of Personio and chairman of the foundation, said: “The COVID-19 crisis has significantly increased educational inequality around the world and we are the last generation that can change the course of climate change. Personio Foundation will help to drive change in these vital areas that require immediate action and are close to the hearts of employees and founders.”
“We want to live up to our core value of ‘Social Responsibility’ that has been an important part of our business since day one. We are grateful that the hard work of the entire team at Personio, the trust of our customers and the continued support of our investors has put us in the position to launch Personio Foundation.”
The launch of Personio Foundation comes shortly after the company began discounting its pricing for non-profit and education organizations.
Renner concluded: “We already serve hundreds of organizations that operate in the education, non-profit and public sectors, and are always considering how we can help them maximize their impact. Personio.org makes our services even more accessible for organizations that work for the good of society and supports our mission to democratize HR software.”
Sign up to the UNLEASH Newsletter
Get the Editor’s picks of the week delivered straight to your inbox!