Home » 10 Corporate Volunteerism Statistics Your Company Needs to Know
Although corporate volunteering is not a legal obligation, it is a rising trend that modern corporations should consider. Corporate volunteering allows companies to develop proper social relationships with community members who are primary organizational stakeholders. It also enables corporations to engage in meaningful social and environmental causes to improve community members' welfare.
Examples of corporate volunteer programs include direct service, team, and skill-based volunteering. Others are mentorship, fundraising, employee internship, and dollars for doers' programs.
Need some convincing that an employee volunteer program is right for your company? Or perhaps you want to make a case for volunteer time off to upper management? Keep reading for inspiring stats about the benefits of corporate volunteer programs.
Integrating volunteering programs with company operations strengthens business models. Check out these top ten corporate volunteerism statistics:
Employee volunteering programs increase employee engagement. An engaged workforce exhibits higher levels of performance and productivity, contributing to organizational success.
Employees who participate in employer-sponsored volunteering are five times more engaged at work.
Corporate volunteering programs provide a sense of additional purpose beyond their roles at the company. Volunteering programs also increase employee morale and motivation to perform duties and interact with colleagues, ultimately enhancing engagement.
The next generation of consumers and employees is more conscious of corporate social responsibility (CSR) and focused on supporting companies engaging in CSR practices—including employee volunteering.
81% of millennials believe corporations should practice CSR and support good citizenship. This stat indicates that millennials want companies to integrate CSR within their business models and strategies.
Today’s employees and consumers are calling for organizations to contribute to community development by solving social and environmental issues.
Consumers are looking up to corporations to contribute to social and environmental change within communities. 88% of consumers prefer social and environmentally conscious brands.
By adopting corporate volunteerism, companies are answering the rising global demand for sustainability-conscious businesses.
A 33% consumer satisfaction rate with CSR operations encourages more corporations to develop plans and strategies to introduce corporate volunteering programs within their business models.
Corporations should consider introducing paid volunteering time off in which employees receive their salaries while offering voluntary services that benefit the community.
Volunteer time off, or VTO, is becoming an increasingly popular tactic to keep employees engaged while improving local communities. 60% of companies offer employees paid time off from volunteering programs. And a further 21% of companies plan to implement the program by 2024.
65% of multibillion-dollar companies associated with the Chief Executives for Corporate Purpose offer employees paid time off to volunteer.
These companies operate on a global scale, giving them significant power to create social change.
Companies of any size can model their VTO policies after the multibillion-dollar companies, developing meaningful CSR practices committed to community development.
Today’s workforce believes employers should engage in social change and community development.
In fact, 55% of employees favor community-focused companies over profit-focused brands, even choosing to work for lower wages if a genuine CSR program is present. This indicates that a significant portion of potential hires is highly motivated by benefits beyond the paycheck, seeking like-minded, transparent, and responsible employers.
87% of executives know that employees expect them to address social and environmental issues.
CSR initiatives like corporate volunteerism should require a collaborative process of decision-making between executives and employees. By incorporating the interests of employees, companies benefit from deeper engagement in the program and at work.
Small businesses operate within the local community and are well equipped to understand the pressing needs of the local community. They give 2.5 more in charitable and in-kind donations to nonprofits.
Increasingly, consumers are calling on large corporations to leverage their financial power to engage in community development. Established corporations can even benefit by forging impactful partnerships with small businesses to address community issues on a larger scale.
It's no surprise that 89% of companies that offer employee giving programs are also matching employee donations. It's a beneficial practice that helps to multiply gifts collected during fundraisers that benefit local nonprofits. Matching donations also demonstrate a commitment to employee welfare by funding causes they support.
Dollars for Doers is another way to incentivize community action. Dollars for Doers is a CSR initiative that encourages employees to volunteer with charities of their choosing. In turn, the company will donate cash grants to these charities based on the number of volunteer hours each employee contributes. This program allows companies to support the causes that matter most to their employees.
35% of companies donate $10 per every hour of volunteering services, while 21% of companies offer $25 per hour.
These corporate volunteerism statistics highlight the importance of developing effective corporate volunteering programs. We encourage you to learn more about how to implement a corporate volunteering program at your company.
Author: Eli Samuels
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