Acknowledging a staff, keeping them engaged, and ensuring their job satisfaction has become increasingly important as the years pass by. Finding a workplace that puts effort into social initiatives and culture is becoming more important to job seekers everywhere, rising nearly to the top of their priority list when searching and applying for positions.
While competitive pay, comprehensive benefits, and opportunities for career advancement are crucial, considering the impact that corporate volunteerism can have on employee engagement and retention rate is critical. Here are insights gleaned from Points of Light:
Corporate Volunteerism Enhances Job Satisfaction
Research reveals that up to 40% of individuals apply for a specific job specifically because of that company’s social responsibility initiatives. That is nearly half of the job seeking workforce! Particularly, Generation Z employees exhibit a strong preference for companies committed to social impact.
As the landscape of our country changes by the minute, and new generations begin entering the workforce, it is smart to make sure companies and organizations are committed to a social cause or some sort of volunteerism that is outside of what the mission is. By showcasing an organization’s dedication to social good alongside financial performance, they can instill shared values among staff and attract like-minded talent.
Corporate Volunteerism Boosts Retention
A study by Galaxy Digital indicates that employees in companies with volunteer programs are five times more engaged and companies benefit from staff involvement. They benefit not only in their daily tasks but also in collective endeavors to effect positive change. Even during challenging economic periods like recessions, volunteering remains crucial! Nonprofits or local initiatives facing resource constraints can benefit significantly from volunteers. Moreover, civic engagement has been proven to reduce stress and promote positive emotions, particularly during stressful times like economic downturns.
Corporate Volunteerism Can Enhance Employee Skills
Maybe you’re a leader, business owner, or an employee at a company – encouraging your team to volunteer cultivates a diverse skill set beneficial to both your business and individual employees. Through hands-on engagement with communities outside organizations, employees may be able to refine existing skills they don’t normally use in their current role and explore new areas of expertise. Additionally, and potentially even more important, volunteering fosters empathy. It contributes to a more inclusive and compassionate work environment, enhancing job satisfaction all around.
Corporate Volunteerism Drives Organizational Success
It’s no secret that employee retention can directly affect a businesses overall success. Low turn-over rates mean employees can spend more time on accomplishing their goals rather than on-boarding new staff. Considering the benefits mentioned above, it’s evident that employee satisfaction is critical to retention. Corporate volunteerism and social responsibility are some of the most effective ways to get there. Engaged employees who invest in both their professional and community roles demonstrate leadership and foster teamwork. These qualities can contribute positively to the bottom line.
If you’re new to corporate volunteerism and have yet to engage your company (whether you’re a leader or employee) with an outside organization, here are 3 places to start the process:
- Consider the overall mission of your company and what you do. Is there a specific area of social impact that would make sense for your staff to get involved with?
- Send a poll out to staff. Include a couple of different options of social impact areas you could get involved with. A few examples of different areas could be: education, serving the homeless, raising money for cancer research or other diseases, clean water initiatives around the world, etc.
- Look into location initiatives happening in the city you’re based out of! What’s happening right outside the doors of your office that your staff could get involved with and rally behind?
If you’re interested in ways your company can partner with and rally behind our students at Canopy Life Academy, please reach out to Abby Sheppard, abby@canopylife.org.