Giving makes you feel good and it can be good for your business, especially if you encourage your employees to volunteer for causes they support.
Some people are wired to be generous even to strangers, they jump at the chance to lend a hand. Others take a little more convincing, then there are those who would love to do more but finding the time while juggling a job and family is difficult.
Companies are learning that setting up an employee volunteer program has many benefits.
Increased employee engagement helps reduce turnover
The average turnover rate for employees in US industries in 2016 was 17.8%. this would be good if you’re only losing your poor performers, but losing top performers causes disruptions in your company, requires considerable training and puts increased stress on the remaining employees.
A PwC study revealed that employees most committed to their organizations put in 57% more effort on the job and are 87% less likely to resign than employees who consider themselves disengaged. Making community involvement part of your corporate vision helps keep employees engaged.
When a business organizes group days of service, co-workers and their bosses have the opportunity to work together and get to know each other outside the walls of the workplace. The corporate hierarchy takes a back seat when it comes to volunteer activities.
Corporate culture and meaningful work
People want to work for companies that care. Involving employees in a mix of volunteer work, and workplace giving provides a sense of purpose and makes employees feel more connected to the community and your company-wide social responsibility efforts.
Employee recognition and financial stability
The Gallup organization estimates that disengaged employees (about 70% of American workers) cost the US between $450 and $550 billion each year in lost productivity. They are more likely to steal from their employers, negatively influence their coworkers, miss more days and drive customers away.
Have the numbers got you thinking? Looking for ways to “give back”? Adopt a highway? Help clean up a park? Help construct a new home? Contact the non-profits in your community. Chances are they need help and would welcome and value the opportunity to utilize your employees’ skills.
Volunteering benefits everyone: those you assist, and it provides you and your employees the satisfaction of helping others. From a business point of view, it’s good for your employee retention and it’s good for your company’s bottom line.
The road is easier together,