The practice of corporate volunteering or company volunteering, has become increasingly popular in the past years. Volunteering for businesses has extra layers to it other than helping society, and it is very intuitive to understand why companies want to position their brand as socially responsible in front of their costumers. But now studies show that company volunteering is proving to be an affective tool in front of employees as well, helping recruit new employees and retaining the existing ones.
It appears that social responsibility in the workplace is a significant factor for young people when deciding where they would like to work and if they would like to stay in their current place of work. According to a 2020 study by Deloitte, 75% of employees believe that volunteering is crucial to employees welfare, and 89% of employees think that organizations that finance volunteering activities suffice for a better work place. 70% of employees think that volunteering improves the company's environment more than Happy Hours do. The study concludes that volunteering is extremely important for employees and even more so for the younger generation of employees.
While corporate volunteering is becoming increasingly important in the eyes of employees, it is not without benefits to the company itself. Company volunteering increases employee engagement. It's an opportunity for employees to come together and work towards something that isn't work related, creating better team-work. It is a great way to form social connections thus increases satisfaction from work.
Orit Strauss-Raz, CEO of GivingWay, a platform for corporate volunteering, shares: "Companies that started using our product couldn't believe the engagement rate from the employees side. It was as if the employees were yearning to use their skills to do something meaningful. But they were even more more surprised to see the impact it had on the employees and on the company as a result. People from different teams started working together, new connections were formed, people had a chance to showoff different skills they didn't usually use in their day to day work, as well as a chance to tackle new challenges. Employee satisfaction went up through the roof!"
Employee volunteering helps team bonding within the company, it boosts moral and according to research it also improves profitability. It is no wonder that more and more companies are starting to look at volunteering as a cheap, affective and meaningful way to recruit and retain employees.
Want to incorporate volunteering into your company's employee experience agenda? Learn how you can do this with GivingWay here.