Can volunteering be an effective tool to attract, engage and retain employees? Yes and it’s time you use it!
A new approach to attracting talent
Volunteer programmes serve as a proven attraction tool for millennials. This generation is all about aligning their personal values with their organisation’s values. 64% go as far as rejecting job offers if they don’t see the hiring organisation having strong corporate social responsibility (CSR) values.
88% of millennials would also leave an employer whose CSR no longer matches the individual’s values. While other generations may not be as outspoken, CSR is also a recognised retention tool.
When it costs almost 1/3 of the employee’s last total salary to replace them, companies also risk the non-financial implications like reduced moral and increased absenteeism.
It’s high time find new, strategic and holistic approaches to engage and retain talent. This is where employee volunteer programmes linked to the organisation’s community social responsibility (CSR) kick in.
CSR and wellbeing
Although CSR has been around since the 1950s, Archie Carroll’s defined the modern approach in his article “Pyramid of Corporate Social Responsibility” (published in 1991).
- Economic responsibilities: Be profitable
- Legal responsibilities: Obey the law
- Ethical responsibilities: Be ethical
- Philanthropic responsibilities: Be a good corporate citizen
The philanthropic responsibility may only be a discretional responsibility for an organisation. Yet, 91% of global consumers expect companies to address social and environmental issues and “contribute financial and human resources to the community and to improve the quality of life.”
Looking at these numbers, no business can afford not to have a CRS strategy in place. In its “2017 Volunteerism Survey”, Deloitte discovered that “creating a culture of volunteerism may boost morale, workplace atmosphere and brand perception.”
They further found 77% respondents to “volunteering is essential to employee well-being.” Willis Towers Watson identified 2 in 5 companies customising their wellbeing initiatives to act as a differentiator to attract and retain talent.
It’s been shown over and over again that employees who feel their organisation is inventing in their wellbeing give back to their employer higher productivity and engagement.
Create volunteering opportunities
Supporting employee’s altruistic values, companies can offer volunteering opportunities in different ways: Giving one’s time, energy, skills or talents to a charitable organisation without obviously expecting anything in return.
It’s here when the company’s sincerity for CSR is tested. Businesses donate money for a cause. Yet, when implementing paid-time off volunteering initiatives, the authentic and genuine approach to CSR is shown. It underlines the commitment for specific issues and causes and there are plenty for organisations to choose from, naming just a few:
- Education, where employees mentor school-aged children, read out to children or adopt a school
- Environment, where groups plant trees, organise clean up drives
- Health, where teams participate in a walk or run to raise awareness for diabetes or cancer
- Social, where teams offer pro-bono services or take part in Ramadan iftar initiatives
- Skills, where individuals donate their specialised knowledge
Companies can identify possible causes linked to their corporate goals, mission and purpose. Alternatively, local projects may be selected together with employees. Local government authorities can also act as an introducer to approved charities which whom any organisation may wish to partner.
Reap unexpected benefits
While volunteering increases engagement, organisations have seen other (unexpected) benefits, too.
- 79% of participants in skill-based volunteering found higher job satisfaction and 70% found it having complemented their career development
- 92% of respondents agree that volunteering is an effective way to improve leadership skills
- Relationships with co-workers and colleagues are strengthened, organisational silos are broken down
- 93% of respondents agree volunteering improved their mood, 75% felt healthier and 79% felt less stressed
- Line managers can recognise those employees who go the extra mile and who contribute to their communities through company-sponsored volunteering or on their own initiative
Can your business afford not creating volunteering opportunities? Contact us today and find out how company-sponsored volunteering opportunities can build an engaged and happy workforce.