Employee volunteerism is often one part of a company’s overall Corporate Social Responsibility program. It is defined by Points of Light as a planned, managed effort that seeks to motivate and enable employees to effectively serve community needs through the leadership of the employer.
Why have an Employee Volunteer Program?
1. Increased Employee Engagement and Retention
According to the 2017 Deloitte Volunteerism Survey, 89% of Americans believe that companies who sponsor volunteer activities offer a better overall environment than those who do not. Engaged employees are good for the bottom line too–companies with engaged staff have 12% increased profitability, 18% higher general productivity, a 62% decrease in safety incidents, and up to a 51% decrease in turnover (Gallup).
2. Increased Attractiveness to Job Seekers
An Employee Volunteer Program makes your workplace more attractive to potential employees. A recent study from Stanford discovered that 77% of MBAs feel that a reputation for ethics (an important component of Corporate Social Responsibility) is as important as financial benefits in selecting a job. In fact, 97% of those surveyed said they would be willing to accept reduced financial benefits to work for an organization with a better reputation for ethics and corporate social responsibility!
3. Improved Corporate Visibility
In addition to the benefits provided by publicizing your volunteer activities through traditional and social media, having a vibrant Employee Volunteer Program (as part of a Corporate Social Responsibility initiative) can help increase your company’s reputation. 89% of consumers say they would buy the products/services of a company with an excellent CSR reputation as well as recommending it to others. For companies with a poor CSR reputation, that number falls to below 7% (Reputation Institute). According to a McKinsey Global Survey, CFOs, investment professionals, and corporate social responsibility professionals agree that maintaining a good corporate reputation or brand equity is the most important way [volunteering programs] create value.
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