Last year, 25% of the U.S. population spent time outside of work giving back and volunteering – whoa. Consider how much that percentage would grow if employees could volunteer through their jobs. That’s right, we’re talking paid volunteer time off (VTO).
When employees participate in company-sponsored volunteer projects, they thrive mentally and physically, and companies reap the benefits of high retention and increased revenue. It’s a win-win-win for everyone involved.
This year, National Volunteer Week is April 23-29, and we’re giving you three reasons to #doVolunteer time off and give back to your communities with your coworkers!
1. You #DoGood
Every year, $4 billion (yes with a “B”) is raised through corporate giving, but combined with the billions of volunteer hours donated, the total is closer to $184 billion. That money is unrestricted, sustainable support that allows charities to continue their vital work nationwide. Whether your business is running a food or clothing drive, packing boxes or licking envelopes, your manpower maximizes what the nonprofits can do with their budgets. According to the Independent Sector, volunteers are valued at $23.56 per hour – can you imagine if charitable organizations had to allocate that money toward paying people to work? Volunteerism is so valuable to these charities. Less money spent on recruiting hands to get involved means more money put toward positively impacting the community.
2. Your Health and Wellbeing (and Company) Benefit
79% of employees prefer to work for a socially responsible company and are more productive and engaged as a result. On top of that, employees see a boost in health and happiness when they are offered corporate opportunities to give back. Happy Employees + Healthy Employees = Better Engagement and Productivity. But can small businesses get in on this action? “If you want your business to attract talented, socially conscious Millennials and keep them engaged once they come aboard, the answer is a resounding ‘yes,’” according to Forbes. 63% of millennials donate to charities and 43% volunteer or belong to community organizations. No matter your company’s size, by offering volunteer time off opportunities, you’re attracting awesome talent and appealing to millennial values. Giving back helps your business grow.
Also, consumers are more likely to recommend, promote and buy from a brand that supports a good cause. Companies that offer volunteer opportunities can increase revenue by as much as 20%.
3. All the Cool Kids are Doing It
This is one of the rare instances where it’s encouraged to follow the popular crowd. Fifty five companies on Fortune’s annual list of the 100 Best Companies to Work For and 90% of Fortune 500 companies offer paid time off to volunteer. By 2018, nearly 80% of companies nationwide will offer some sort of volunteer or give-back opportunity for employees. Additionally, “61% of Millennials said a volunteer program would be a factor ‘when choosing between two potential jobs with the same location, responsibilities, pay and benefits.’” Show your social good and retain top talent by kicking off a volunteer program at your company!
National Volunteer Week isn’t the only week to consider giving back and supporting your community. The SSPR team can’t wait to volunteer time off next week and throughout the year. Let’s #doGood together!