How Corporate Volunteering and Employee Recognition Programs Benefit Your Organization
Corporate volunteer programs are initiatives that encourage employees to volunteer in their communities. Often these programs provide their employees with fully paid days that are allocated toward bettering their communities through initiatives of their choice. Many people believe that corporate volunteering simply benefits the community and the benefits end there; however, these initiatives should also be seen as a corporate strategy that benefit the organization's performance as well.
Without motivated and dedicated employees, a business cannot operate competitively in the marketplace. Volunteering can benefit your organization by creating a more dedicated and engaged group of employees. Employees can also develop and improve personal leadership skills, earn a sense of accomplishment, as well as increase satisfaction and engagement (Lee, 2001). None of this is possible without a positive corporate culture.
A 2011 study conducted by Deloitte demonstrated that employees, who volunteer are more likely to feel their corporate culture is positive, feel proud to work for their organization, and feel loyal to their company. If employees are satisfied and loyal they will be less likely to leave the organization. 78% of the study participants would rather work for a reputable and ethical company than receive a higher salary. By recognizing employee volunteering, organizations can save hundreds of thousands if not millions of dollars in turnover expenses. The Bureau of National Affairs estimates U.S. businesses lose $11 billion annually due to employee turnover. So why aren’t companies seizing this opportunity?
Not only will a corporate volunteering program increase employee engagement, but it can also lead to increased corporate reputation and publicity. 88% of consumers say they would be more likely to purchase from organizations that support and engage in activities that support the community. Therefore, if organizations encourage volunteering, the community will take note and respond with increased loyalty.
By implementing a corporate volunteering policy, you can create a positive corporate culture, increase employee engagement, decrease turnover, and increase revenue. Want to discover how your organization can easily empower your employee’s volunteer efforts? Check out our latest product offering, Porpoise.