4 Reasons Why Volunteering Is Good for BusinessSep 29, 2020
Have you ever noticed how volunteering brings everyone together?
According to a Deloitte report, 70 percent of employees believe that volunteer work is more likely to boost team morale than happy hours. Promoting volunteerism in the workplace can improve brand perception and reduce turnover.
It has started to become the norm for companies worldwide to sponsor charities and help those in need, but for those who promote volunteering, they see even greater benefits!
Volunteerism is part of a corporate’s social responsibility. It not only helps strengthen a brand, but it also increases employee satisfaction and engagement.
These are just a few reasons why volunteering is good for business. Think of it as a way to improve your corporate culture, help your employees develop their skills and relationships, and create a positive workplace overall.
And if there was ever a time where we needed a boost in morale, it is now! Sure, volunteering looks different when we are working from home, but there are ways to still serve your community as a team.
How Corporate Volunteering Programs Benefit Your Business
Volunteerism benefits everyone involved. That’s why successful organizations are encouraging their employees to give back to the community.
Autodesk, for instance, donates $100 for every 10 hours notched by each employee. Salesforce sponsored more than 25,000 programs and has invested over one million hours in volunteer activities.
As a business owner, you get a chance to strengthen your brand and boost employee morale. These activities are also a great opportunity to build connections and expand your network.
The charities and individuals you support can gain recognition and raise awareness for their cause. Your employees can hone their skills and feel a sense of pride in their accomplishments.
According to Deloitte, 89 percent of American workers believe that organizations involved in volunteering programs offer a better working environment. Approximately 77 percent say that such activities are crucial to employee well-being.
More than one-third of employees agree that volunteering can help develop new skills.
But that's not all.
Corporate volunteering can also help you attract and retain talent.
About 25 percent of American adults invest time and energy to make a positive contribution to their communities. Therefore, it's not surprising that socially responsible companies find it easier to recruit skilled employees.
Need more proof? Here are 4 reasons why volunteering is good for business:
Volunteerism Increases Employee Engagement
A culture of giving back can inspire, motivate, and engage your team. In fact, increased employee engagement is one of the top three benefits of corporate volunteering, reports a 2019 study.
Engaged employees are more productive and loyal to the company they work for. They also show a 21 percent higher profitability and sell more products to customers.
Companies with highly engaged workers are up to 17 percent more productive and have better customer ratings. Their turnover rates are significantly lower than those with disengaged teams.
Corporate volunteering gives team members an opportunity to help others which gives them a sense of purpose.
Build a Healthier Workforce through Volunteering Programs
Volunteerism may also improve employee well-being. In a 2016 study, volunteers were more conscious about their health and used preventive medical services more often than those who didn't volunteer.
Depression, stress, and burnout all have a negative impact on mental and physical healt, and volunteering is proven to help reduce stress, boost mental well-being, and provide a sense of satisfaction. These factors can lead to a more productive workforce and lower absenteeism.
People with a high purpose in life are less likely to have cardiovascular problems. They are also healthier overall and tend to live longer.
Having a healthy workforce can improve your company's bottom line and reduce healthcare costs. Plus, your team members will be more engaged and motivated to put in their best work. A win-win for all!
Help Your Employees Grow Professionally
Volunteering can help employees enhance their communication, leadership, and interpersonal skills. Their decision-making and problem-solving skills will improve as well. This will reflect positively on their work performance overall.
When you look at reasons employees quit their jobs, it’s often because they are not given the opportunity to use their skills and abilities.
By participating in volunteering programs, they can put their abilities to use and gain new perspectives. This can help them climb the career ladder and reach their full potential that they may not have had if they didn’t get the chance to build their skills in the first place.
Working with charities may also boost staff creativity in the workplace and beyond.
For example, if your employees are asked to seek new, original ways to raise funds for a charity, they'll brainstorm ideas and let their creative juices flow. They will also have a chance to test different strategies and make quick decisions.
Volunteerism is lower pressure than their jobs which allows for more creative freedom. When team members are given the chance to be creative and then see success as a result, they will begin to trust themselves more and show up in that same way in their work.
Improve Your Brand Image
Giving back to the community is one of the best ways to enhance corporate image and raise brand awareness. By doing volunteer work, companies can instill their values in employees and customers alike.
Prospective and existing clients will see your brand in a positive light and associate your products with all the good you do.
Since 90 percent of Americans trust brands that support social causes, your organization may also experience increased sales and higher revenue.
88 percent of U.S. consumers have claimed they would purchase a product with social or environmental benefits. And about 84% would tell their friends about a company's corporate social responsibility efforts.
Bottom line: organizations that back social causes find it easier to build trust and increase customer loyalty. Plus, they are more appealing to job seekers and more memorable to customers.
Discover Why Volunteering Is Good for Your Business
There are many other benefits of volunteering. By giving back to the community, companies can build and maintain their reputation. They may also develop a better-prepared workforce and gain a competitive edge.
Furthermore, corporate volunteer programs are a great opportunity to support your community. This can attract investors and improve consumers' perception of your brand, leading to higher revenue in the long run.
If you’ve made it this far, you are a leader who truly values your people and your community. If you are looking for ways to invest in your people so that they can invest in their communities, check out our leadership development membership here.