As the holiday season approaches, many of us decide it’s that time of year to be charitable and give back. Whether it’s donations, giving money or volunteering your time. But there are some companies where employees are encouraged, or even required, to volunteer at different points throughout the year. Corporate volunteering has become a major part of corporate culture for companies of all sizes. According to Forbes, 94% of Generation Z believes that companies must address social and environmental issues. With Millennials and Generation Z having such a significant commitment to social justice and corporate social responsibility, it is becoming more and more necessary that companies implement a volunteer program.
- Commitment to company’s culture
- Connection to company’s mission, values or purpose statement
- Communicating opportunities to employees
- Counting and quantifying employee’s volunteering
Some companies have been incredibly proactive about designing employee programs. Companies have created PTO for volunteering, weekly time to volunteer, donated money for holiday parties to volunteer initiatives and the company matching volunteer hours to donate to a charity of your choice. Companies with volunteer programs come in all shapes, sizes and are found across a diverse group of industries. In an article about 2018’s 50 Best Workplaces for Giving Back, it discusses many of the front runners.
Bank of America employees are allowed to take up to 2 hours of paid time off a week in order to volunteer. The bank’s employees also contributed approximately 2 million hours of community service in 2017. Old Navy is another company that praises volunteerism. The classic clothing store allows employees 60 hours a year of PTO for volunteering and the company is able to match volunteer hours from outside of work to money that employees are able to donate to a charity of their choice. Finally, West Monroe Partners, a professional services business has created The Fischer Fellowship to sponsor employees outside engagement to volunteering for up to six months.
With many companies adapting corporate volunteer programs across the country, it is definitely impacting employee recruitment and retention. In the 2017 Deloitte Volunteer IMPACT Survey, 77% of respondents say company-sponsored volunteer activities are essential to employee well-being. The survey also showed that employees who volunteer are more committed to their company. Besides retention, volunteer programs promote positive PR for the company. In a Pulse Survey, 40% of a company’s reputation is determined by volunteering and corporate social responsibility.
Volunteerism and corporate philanthropy are crucial for employee engagement, retention and public relations. With the positive outcomes and businesses’ responsibility to create a positive impact, volunteer programs are a great way to enhance your company.