Employee Volunteer Programs: Why They Work
Employee retention and productivity can be a challenge. However, research shows that employees are happiest when working for a company that offers opportunities for individual growth, aligns with personal values, and fosters an environment where they can feel inspired and create a positive impact in the world.
Companies with Employee Volunteer Programs (EVPs) have been shown to outperform those without. Job satisfaction and productivity increase, as a result, companies see greater profitability and customer satisfaction.
Employee Recruitment and Retention
According to a Stanford Graduate School of Business study, “graduates are willing to sacrifice an average of 14.4% of their expected salaries to work at socially responsible companies”. Hiring the brightest talent in the industry is the goal of every company. EVPs can help by attracting individuals who not only care about the mission of your company, but that you are socially responsible as well. This is especially true for younger generations who are committed more than ever to changing the world for the better.
Creating a workplace that instills pride in the company increases employee retention. As stated in a Dale Carnegie training, companies with engaged employees outperform those without by up to 202%. Basically, if your employees are not engaged, they are not productive, and retention drops. Volunteer programs can bring people together, give them purpose in their work, and increase their belief that your company is doing something worthwhile in the world.
Collaboration within the workplace improves when employees know they can trust one another. Building this trust is no easy feat, but volunteering together is a proven way to do just that. As your team begins to work together toward a common goal while volunteering, a bond is formed. This bond will translate into increased collaboration at work and a more motivated, effective team.
Increased Visibility Within Community
A well established and carefully structured employee volunteer program can raise a company's visibility within the community. Not only will your employees be making a positive impact, but they will also build a connection between your company and their good deeds. In turn, your company will have an improved reputation with the public.
So many of us wish we had the time to volunteer more, but working full time leaves little time to do so. Providing paid volunteer time off for your employees not only benefits them. In the long run, your company will experience increased job satisfaction, improved employee performance, and higher profit margins.
If you are interested in learning more about the benefits of EVPs and how to get started on building an effective volunteer program for your employees, please feel free to reach out to me.
Thank you for reading!