Employee Volunteering: The Answer To Employee Turnover
Chezuba
September 26, 2022
The cost of losing an employee can range from tens of thousands of dollars to twice the individual's annual wage, which is poor for team morale and expensive for organizations. Rapid job-hopping is most common among millennials, but it has also become more common among Generation Xers and Baby Boomers, especially in Silicon Valley, where a new study reveals that the average tenure for employees at ten large technological businesses is only one to two years.
The good news is that engaging people in social causes is a simple strategy for retaining them. The Millennial Impact Report, the largest yearly poll of millennials regarding their involvement in social causes, offers compelling data. In a recent survey, 55% of participants responded that a company's commitment to social causes was a key consideration when deciding whether to accept a job offer. The appeal stems from the belief that a business engaged in social good is probably a better place to work, in addition to the desire to support causes.
Most of the research done on the subject of corporate volunteering demonstrated significant gains in retention. Researchers looked at how long employees at a major international consulting firm stayed with the company after volunteering for a social impact consulting assignment that came with a temporary pay cut that could be as much as 50%. They discovered that the participants had a third lower likelihood of leaving the company. The study's conclusion—which many of the participants openly stated—was that having the opportunity to use their skills for a socially beneficial initiative improved their commitment to the company.
A Deloitte survey that revealed that "millennials who frequently participate in workplace volunteer activities are more likely to feel proud, loyal, and pleased" as well as that they are twice as likely to be highly satisfied with their career's advancement provides additional support for this claim.
There are instances where the volunteering opportunities that you offer might not reap the same fruits for you. In such scenarios, there are a few ways in which you can optimize your CSR programs.
Offer group volunteering activities:
According to the Millennial Impact Project, 78% of Millennials prefer to work on collective projects, such as team or department-wide initiatives or company-wide volunteer days. These strategies also reinforce the overall corporate culture and develop teams, which helps employees to not only get to know one another better but also recognize the company's serious commitment to social involvement.
Leverage your employees' skills
A staggering 97% of respondents to the Millennial Project responded that they would prefer to use their unique employment talents for volunteering, which is another result of the study. Instead of creating programs that are connected to the greater corporate plan and enable employees to put their knowledge of the workplace to use, too many businesses treat volunteer opportunities as side projects. The multinational consulting firm that attracted so much loyalty with its social impact initiative sends professionals to underdeveloped countries to use their consulting expertise on NGOs' or governments' projects there.
Recently, LinkedIn assembled a group of staff members to offer career guidance to war veterans, assisting them in creating their LinkedIn profiles and making them more marketable job applicants. The fact that all of the participants traveled together to a military post to assist the veterans meant that this initiative also provided the kind of group experience that employers value.
Tap into their competitive spirit
Building incentives around it can encourage engagement because millennials enjoy both competitiveness and appreciation. The trick is to develop the incentives without instilling a sense of obligation or pressure, which could be unfavorable.
For instance, following the recent fires in California's Napa and Sonoma regions, Salesforce.org issued a challenge to its employees to assist in raising $2 million to support relief and reconstruction efforts in the impacted areas. The company donated $500,000 in addition to founder Marc Benioff's $500,000 gift. It also asked for workers to contribute an extra $500,000, with the promise to match their contributions dollar-for-dollar up to another $500,000 if they reached the target.
To Conclude
The problems in managing millennials and how quick-witted they are have received a lot of attention when discussing how unique the millennial generation is as employees. They should be viewed as a perfect opportunity to both cater to their hobbies and increase job satisfaction while also really furthering a company's strategic objective because of their strong desire to contribute to the greater good.
Chezuba has integrated a perfect blend of fun and goodwill in its innovative corporate volunteering program. With gamification, fun challenges, and a dedicated donation platform, Chezuba offers a myriad of online volunteer opportunities for your employees to choose from. Book a free demo to know more about how Chezuba’s online volunteer opportunities can help engage your employees.
Discover nine effective strategies to promote employee volunteering and giving programs within your organization with our insightful blog
September 26, 2022
Employee Volunteering: The Answer To Employee Turnover
This article examines the benefits of engaging employees in social causes and how it can be used to retain them.
The cost of losing an employee can range from tens of thousands of dollars to twice the individual's annual wage, which is poor for team morale and expensive for organizations. Rapid job-hopping is most common among millennials, but it has also become more common among Generation Xers and Baby Boomers, especially in Silicon Valley, where a new study reveals that the average tenure for employees at ten large technological businesses is only one to two years.
The good news is that engaging people in social causes is a simple strategy for retaining them. The Millennial Impact Report, the largest yearly poll of millennials regarding their involvement in social causes, offers compelling data. In a recent survey, 55% of participants responded that a company's commitment to social causes was a key consideration when deciding whether to accept a job offer. The appeal stems from the belief that a business engaged in social good is probably a better place to work, in addition to the desire to support causes.
Most of the research done on the subject of corporate volunteering demonstrated significant gains in retention. Researchers looked at how long employees at a major international consulting firm stayed with the company after volunteering for a social impact consulting assignment that came with a temporary pay cut that could be as much as 50%. They discovered that the participants had a third lower likelihood of leaving the company. The study's conclusion—which many of the participants openly stated—was that having the opportunity to use their skills for a socially beneficial initiative improved their commitment to the company.
A Deloitte survey that revealed that "millennials who frequently participate in workplace volunteer activities are more likely to feel proud, loyal, and pleased" as well as that they are twice as likely to be highly satisfied with their career's advancement provides additional support for this claim.
There are instances where the volunteering opportunities that you offer might not reap the same fruits for you. In such scenarios, there are a few ways in which you can optimize your CSR programs.
Offer group volunteering activities:
According to the Millennial Impact Project, 78% of Millennials prefer to work on collective projects, such as team or department-wide initiatives or company-wide volunteer days. These strategies also reinforce the overall corporate culture and develop teams, which helps employees to not only get to know one another better but also recognize the company's serious commitment to social involvement.
Leverage your employees' skills
A staggering 97% of respondents to the Millennial Project responded that they would prefer to use their unique employment talents for volunteering, which is another result of the study. Instead of creating programs that are connected to the greater corporate plan and enable employees to put their knowledge of the workplace to use, too many businesses treat volunteer opportunities as side projects. The multinational consulting firm that attracted so much loyalty with its social impact initiative sends professionals to underdeveloped countries to use their consulting expertise on NGOs' or governments' projects there.
Recently, LinkedIn assembled a group of staff members to offer career guidance to war veterans, assisting them in creating their LinkedIn profiles and making them more marketable job applicants. The fact that all of the participants traveled together to a military post to assist the veterans meant that this initiative also provided the kind of group experience that employers value.
Tap into their competitive spirit
Building incentives around it can encourage engagement because millennials enjoy both competitiveness and appreciation. The trick is to develop the incentives without instilling a sense of obligation or pressure, which could be unfavorable.
For instance, following the recent fires in California's Napa and Sonoma regions, Salesforce.org issued a challenge to its employees to assist in raising $2 million to support relief and reconstruction efforts in the impacted areas. The company donated $500,000 in addition to founder Marc Benioff's $500,000 gift. It also asked for workers to contribute an extra $500,000, with the promise to match their contributions dollar-for-dollar up to another $500,000 if they reached the target.
To Conclude
The problems in managing millennials and how quick-witted they are have received a lot of attention when discussing how unique the millennial generation is as employees. They should be viewed as a perfect opportunity to both cater to their hobbies and increase job satisfaction while also really furthering a company's strategic objective because of their strong desire to contribute to the greater good.
Chezuba has integrated a perfect blend of fun and goodwill in its innovative corporate volunteering program. With gamification, fun challenges, and a dedicated donation platform, Chezuba offers a myriad of online volunteer opportunities for your employees to choose from. Book a free demo to know more about how Chezuba’s online volunteer opportunities can help engage your employees.
Together, we can create a world where no one is denied the chance to gain literacy skills. Let’s stand united in promoting education for all and commit to actions that drive lasting change.
Good corporate citizenship is a must, not a nice one to have. It's a "must-have" if you want your business to stay accountable, successful, and competitive. Employee engagement is boosted by strong corporate citizenship, and when we're all engaged, good things happen.
Employee engagement is a critical factor that directly impacts a company's productivity, retention, and overall success. The statistics we've highlighted not only shed light on the current state of employee engagement but also underscore the pressing need for organizations to prioritize it.
Chezuba can play a crucial role in this journey by providing personalized volunteering opportunities that align with employees' skills and passions, further enhancing their engagement and connection to the company's mission.
Celebrating the 4th of July at work is an excellent way to build team spirit, promote a sense of community, and acknowledge the significance of independence.
Every action, no matter how small, contributes to the larger goal of nature conservation. This World Nature Conservation Day, take a step towards making a difference. Whether through volunteering, adopting sustainable habits, or supporting conservation efforts, your commitment can help protect and preserve our planet for future generations. Together, we can create a more sustainable and thriving world.
Celebrating Nelson Mandela International Day through corporate volunteering is a powerful way to honour Mandela’s legacy and contribute to social change. By engaging in diverse and impactful activities, companies can create meaningful experiences for their employees, strengthen community ties, and make a lasting difference.
Together, we can create a world where no child is robbed of their childhood. Let’s stand united against child labor and commit to actions that drive lasting change.
World Environment Day offers a unique opportunity to make a tangible difference in the fight against environmental degradation. By volunteering, you not only support critical conservation efforts but also gain personal benefits such as new skills, improved well-being, and strengthened community ties.
By building strong internal support, companies can harness the full potential of their CSR programs, creating a better future for their employees, communities, and the planet.
Read the article to learn how empowering employees in corporate volunteering programs fosters a sense of purpose among employees and significantly improves retention rates.
Implementing these strategies can help companies not only achieve their corporate citizenship goals but also create positive social and environmental impacts while driving long-term business success. By embracing responsibility, fostering inclusivity, and collaborating effectively, businesses can contribute meaningfully to societal well-being while enhancing their reputation and competitiveness in the market.
May Day is a day to reflect on the progress made in labor rights, honor workers' contributions, and celebrate unity within organizations. By incorporating these engaging and meaningful activities into your May Day celebrations, you create a positive and inclusive workplace culture.
Engaging employee giving and employee volunteering activities on World Health Day can foster a culture of well-being and employee satisfaction. Read the article to learn more.
By going along with these trends, companies can help make the future more sustainable and become leaders in their fields. As time goes on, it is important to stay committed to business social responsibility and work toward making the world fair and prosperous for everyone.
The emergence of employee volunteering and engagement as prominent trends in CSR reflects a broader shift towards more holistic and inclusive approaches to corporate social responsibility.
Virtual volunteering offers a number of benefits for both volunteers and nonprofits. Read the article to learn more about the future of Nonprofit support in the USA.
Read our in-depth blog post about the significant advantages of Volunteer Time Off (VTO) as a Corporate Social Responsibility tool and how it helps both workers and employers.
In this evolving world of businesses, employee engagement is more important than ever. Read the blog to learn about the evolving trends and its significance in business growth.
Running a company is hard. But it’s not just the business you have to handle, employee satisfaction also matters a lot. The employee giving program can help you with this aspect.
Studies have shown that businesses with strong corporate CSR programs can build deeper connections with employees, customers, and other key stakeholders.
Corporate social responsibility is a form of self-regulation that reflects a company's accountability and commitment to the well-being of society through environmental and social measures. It plays an important role in brand perception, appealing to employees, customers, and investors alike.
This article is designed to help you understand the modern employee and how to create a workplace that is conducive to their personal and professional growth.
This article is about the importance of the International Day of Persons with Disabilities and the volunteer opportunities that are available to people with disabilities.
We address the increasing importance of employee purpose and have also attempted to explain how your leadership team can make adjustments to integrate meaningful work as part of your company culture.
Concept notes are one of the first steps to take when trying to secure funding for your projects. We have listed out what a concept note is, its importance, and tips to draft a great concept note.
10th of October of every year is as World Mental Health Day by the WHO but your employees' mental health matters all year round. We have listed a few changes you can make to your organization to cater to the mental health needs of your employees.
This report provides an analysis of the current state of the global workplace and the impact of the pandemic on productivity and how the term “productivity paranoia” came about.
Here’s a brief overview of what diversity and inclusion are and why it is a must for your organization. This blog will be most resourceful to aid you in creating and maintaining diversity in your workplace.
Companies can aid society, engage remote employees in developing their skills, and even improve brand reputation by fostering a culture of giving through virtual volunteering.
Employees are typically the backbone of any firm, and a firm's success depends on the well-being of its employees. Discover how you can properly support your employees' mental health.
As we go about your daily operations, we are bound to hit few snags. Finding a quick fix to these issues can help in the short run, but the most viable solution is to focus on finding the root problem and address it. Let's learn how using the 5 Whys Tool.
This article is meant to give you an idea of the benefits of corporate social responsibility. It will give you an idea of how to implement it into your business and how to reap the benefits for years to come.
In this article, we discuss why employees are leaving the workplace increasingly to focus on their mental health and a few changes you can make to your workplace to combat this issue.
This article is an introduction to the concept of corporate citizenship and how it relates to business. It explains what it means to be a good corporate citizen and how it can be applied to your business.
By measuring the impact your nonprofit creates, you will be able to provide your donors with transparency and the knowledge of how they are able to help make a difference in the world. Learn how with this article.
This article discusses the need for organizations to bridge the skills gap in today's economy. It discusses the current pandemic and how it has widened the existing skills gap, and how organizations can use the pandemic to their advantage.
This article is meant to give you a better understanding of how volunteering for a nonprofit can be a great way to use your skills to help those in need in your community.
Corporate philanthropy is a great way to get your employees to get more involved in their communities and to help them feel more connected to their work.
This article discusses the benefits of volunteering, and how it can be a transformative experience and a great way to connect with people and interact with new people.
This blog shows you how to keep track of your corporate volunteering program and evaluate its impact. It is essential to keep a record of your program's progress and evaluate it based on the results you get.
In this blog, we will discuss what virtual volunteering is, how it works, the pros of volunteering virtually and how you can become a virtual volunteer.
This article discusses the importance of creating meaningful volunteer opportunities for employees and 6 ways to improve the number of employees who participate in these programs.
This article talks about the importance of a board of directors for nonprofits, the benefits of having a board of directors, and their roles and responsibilities.
This article is about virtual corporate volunteering ideas that can be executed by your organization to engage employees and also support nonprofits and charities.
This article explains how employee purpose is a key factor in a better workforce, and how you can help your employees find it through your CSR strategies.
This article is about the benefits of having a business volunteering program. It is a great way to get your employees involved in the community and to get them to give their hundred percent to their work.
This article provides a comprehensive overview of the best practices that can be implemented to create successful international corporate volunteering programs.
This blog has discussed 6 easy steps to organize a successful company volunteer day. By following these steps, you will be able to ensure that your company's volunteer day will be a huge success.
This blog will give you a basic understanding of corporate philanthropy. It is important to understand what corporate philanthropy is and why your company should choose it as a part of your CSR strategy.
This article will discuss the Logframe technique and its application in project planning. It will also discuss the structure of the Logical Framework and its various components.
This article discusses how you can incorporate virtual volunteering into your corporate social responsibility strategy. It shows you how to create a virtual volunteering program that is aligned with your company's values and aligns with your CSR strategy.
This blog gives you an idea of how volunteering can help you advance your career and help you gain valuable work experience, showcase your skills and knowledge, and help you explore new career opportunities.
This article contains some fun ideas to celebrate Earth Day in your workplace. Earth Day is an annual celebration of the environmental movement's accomplishments and a reminder of the significance of long-term ecological sustainability.
This article discusses how technology is making corporate volunteering easier and more accessible for companies to use and incorporate into their CSR programs.
Here's how Chezuba connects you with incredible online volunteers who can help you engage and persuade your stakeholders to take action by creating compelling content.
Volunteers are an essential component of any Nonprofit organization. Keeping your volunteers' passion, energy, and interest in your organization's goal is vital to retain volunteers for the long term