As mentioned in some of our previous blog posts, corporate volunteering is becoming increasingly important. The benefits can prove to be incalculable and the impact left on employees and employers can be of great value. Although monetary donations still play a large part, corporate volunteer programs can potentially have greater value over the long run. So, why does your company need a corporate volunteer program and how exactly can it be beneficial? We are here to show you how it is mutually beneficial for your company and your employees.
Organized volunteering can do so much for your employees in terms of their success, engagement and skill development. Listed below are benefits your organization may begin to see within employees after establishing a successful corporate volunteering program.
More engaged employees
This may be an obvious one, but the more your employees are encouraged to volunteer, the more engaged they would be within their place of work. This includes greater productivity, employee satisfaction and employees with higher morale. According to a study from Net Impact and Rutgers University, employees who say they have an opportunity to make a direct social and environmental impact at work report higher satisfaction levels than those who don’t, by a 2-to-1 ratio. What does this mean for you, the company? It means more profitability in the long run, as your employees will be more productive and satisfied. Tim Mohin, in a recent Forbes article, claimed that “more engaged employees make for more profits…companies with highly engaged employees have three times the operating margin…and four times the earnings per share…of companies with low engagement.” Need we say more?
Recruitment of talented millennial employees
We have a whole blog on this, check it out here- but lets briefly touch on this point. Millennials are proving to be people committed to changing the world and making it a better place. A study by Stanford Graduate School of Business revealed, “graduates are willing to sacrifice an average of 14.4% of their expected salaries to work at socially responsible companies.” This means that having a corporate volunteer program may aid in your company being able to better attract and retain these highly skilled, socially conscious young employees. They want to work with companies that share their values and support causes they align themselves with. Attracting new and great talent is an important part of any business and can be a main lifeline for your company to grow and prosper.
Employee skill and personal development
Employees can only learn so much within the office. Cross-functional teams help, but corporate volunteering might be able to give them a fresh perspective and even more of a chance to grow. Volunteering gives employees leadership and learning opportunities that may not have been readily available within the workplace. It lets them work with different resources, new teams and in turn opens their eyes to new perspectives and stimulates their creativity.
Personal benefits for employees
Aside from the benefits you may see within the workplace, corporate volunteering may have some wonderful personal benefits for your employees. It may help employees break out of their built up comfort zone. It will help employees feel physically healthier and happier. Employees who volunteer may have a stronger emotional wellbeing, be able to have deeper interpersonal relationships and are overall happier with their lives. Although these effects are listed as personal to the employee, you can see how they may produce a more productive work environment as well.
When we talk about public relations, we don’t just mean media coverage and reputation management (although, this may be a benefit as well) but we also mean public relations within your pipeline of customers. Your customers consist of socially conscious individuals, and these customers are going to respect a business that shows effort to improve their community and better the world!
Among the discussed benefits to employees/employers above, below is a list of a few more potential benefits of corporate volunteer programs:
Improved communication within the workplace
Stronger internal culture
Aside from the benefits your company may see, keep in mind that your commitment to a corporate volunteer program makes a huge impact on the non-profit organizations as well as all those in need who will greatly appreciate your help!