Companies that actively promote community service and social engagement are finding that the investment is a smart one, with measurable benefits to the company, as well as the community and, employees. How do they benefit?
First, companies are meeting a demand. 85% of consumers have a more positive image of a product or company when they learn that it supports a cause they care about, and 3/4 of employees wish their companies would do more to support social and environmental issues.
Corporate volunteering can be transformative. Benefits to employees include:
- Leadership and Skills Development – employees at all levels from C-suite to shop floor gain insights and expertise tackling community issues in new settings. Problem-solving, adaptability and creativity are strengthened and improved.
- Teambuilding—working in the community builds trust and cooperating with co-workers develops a strong sense of team purpose and communication.
- Loyalty and Retention—the vast majority of employees are motivated by more than a paycheck. Self-esteem comes from knowing you’re doing good, not just doing well, and studies show that employees who participate in their company’s community engagements are 36% more likely to experience a strong feeling of loyalty, which can result in improved performance and lower turnover.
- Improved Mental Health—Time recently reported on a British research study that showed people who volunteered tested as healthier on a questionnaire of mental health and well-being. The effect was more “robust” in people who reported volunteering regularly.
The benefits of corporate volunteerism are clear. So who’s doing it? The biggest, best and brightest among corporate stars are putting their money where their meaning is; over half the companies listed on Fortune’s 100 Best Companies to Work For offer paid time off to volunteer. And many companies—on and off the list—are going above and beyond. For instance:
- Novo Nordisk – builds community engagement throughout the company, starting with 80 hours of paid volunteer time per employee per year. In addition, community service projects are scheduled into most corporate offsite meetings.
- Deloitte – the management consulting firm provides help and guidance to employees looking for volunteering opportunities, including an annual company-wide Impact Day of service.
- DXagency – the New Jersey-based boutique advertising firm is small, with a big heart. In addition to fielding walk-a-thon teams for multiple fund-raisers (American Heart Association, Breast Cancer), it rewards employees who volunteer with additional personal time off. Members of the agency provides technical support and mentoring to volunteerism website KidsThatDoGood.com.
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