A good corporate volunteering program has many benefits. It engages employees, it helps your brand look good and it makes management happy. But lets not forget the reason you are doing it, which is doing good. And since you are spending time, effort and money on your volunteering program, it only makes sense to measure its results and see that it does have an actual impact and it's not just lip service.
Defining KPIs for your volunteering program, measuring them and reporting them is how you can understand if your program is a success, and identify where to improve. In this article we will discuss some of the metrics you should be tracking and including in your corporate social responsibility (CSR) report.
What is a CSR Report?
A CSR report or a sustainability report, is a periodical report, usually done once in a year, sharing a company's corporate social responsibility activities and results.
The goal of CSR reports is to help companies understand the impact of their activities, help them improve their processes and have a more positive impact in society. The social impact report also allows companies to externally communicate with their stakeholders how they are integrating the principles of sustainable development into their everyday operations.
A CSR report includes the many different ways the company is examining itself in light of the UN's sustainable development goals (SDG)in environmental, social, and corporate governance (ESG) aspects. Company volunteering may reflect some or all of the company's activities described in the CSR report.
Why Measure Company Volunteering Efforts?
An employee volunteering program usually has various goals, including:
Making a positive social impact
Creating employee engagement and increasing employee retention
Improving brand image among stakeholders
To know if a volunteering program is a success, it is important to examine its results, to understand its costs and value to the company, and learn if the program achieved its goals.
KPIs for an Employee Volunteering Program
KPIs are the key targets you should track to make the most impact from your employee volunteering strategy. The KPIs should reflect the goals you plan to achieve.
KPIs for Measuring Social Impact
It's not easy to measure objectively a company's social impact. This requires combining quantitative metrics (like how much money was raised) with qualitative information (like the nonprofit's testimony of the impact of every $100 USD). Here are some metrics that can help you make this estimation:
# Number of total hours volunteered
# Estimated dollar value of hours volunteered
# Money raised
# Amount of dollars matched
# Number of goods collected
KPIs for Measuring Employee Engagement & Retention
Learn if your employees are satisfied with your social impact strategy. Find out if your program is improving employee wellbeing, mental health, soft skills and a sense of purpose in the workplace with these metrics:
# Volunteer participation rates (number of volunteers / number of employees)
# Number of hours volunteered per employee
# Number of activities created
# Employee engagement per activity type (understand which activities are driving more engagement)
# Employee Net Promoter Score (NPS) - run a survey before your corporate volunteering program starts and another one when it ends.
# In-platform participation rate - If you have a dedicated platform for employee volunteering, you can also measure the number of employees who made a contribution on platform / the number of employees on the platform.
These figures should give you an understanding of the success of the volunteering program in the eyes of your employees.
KPIs for Measuring Brand Positioning
When you volunteer it makes your brand look good. You look good in the eyes of your employees, your clients, the public, investors, and potential stakeholders too.
The following KPIs are relevant to companies who are promoting their volunteering experience to people outside of the company, and want to understand the effect it has on them:
# Customer NPS
# Number of press mentions
# Social media reach, engagement & impressions
# Increase rate of new job applications
Measuring the impact of your employee volunteering program can attract investors, retain top talent, boost reputation, and improve business performance. Use some of the metrics we’ve discussed in this article and combine them with metrics unique to your business and initiatives.
Want to receive real time automated reports of your company's volunteering program? Learn how you can do this with GivingWay here.