Most companies maintain a turnover rate of approximately 15%. A recent report indicated that companies spend 33% of a worker’s annual salary to find a replacement. Thankfully, one of the best ways to increase retention is offering a volunteer program. How can volunteering strengthen your company?
4 Ways Volunteering Can Strengthen Your Company
- Show Your Company Culture to Your Employees: When your employees volunteer, they will strengthen your company image in the community and be personally fulfilled through giving back. Employees will also find personal fulfillment through engaging, well-organized activities that give back to the community.
- Attract Employees: Employee volunteer programs don’t just help the employees that already work for you; they also are an effective way to attract new employees. A recent study of millennials found that almost 60% of millennials look for companies that have CSR programs that include volunteering when they are job hunting.
- Team-Building: One of the best ways to strengthen your company is by strengthening your teams. What’s one of the best ways to cement those team bonds? Volunteering! By surveying your employees, you can collect data on cause areas that matter to them.
- Improve Your Image: Your image is partially how the community perceives your company and your employees. Volunteering lends your company a more positive image in the community. Instead of just thinking of your products or services when they think of your name, they will also think about how you give back throughout the year. What are other companies doing? Over 40% of companies* have between 1-4 corporate charitable events annually, and 46% hold 10 or more volunteering and CSR-related events every year!
Strengthen Your Company and the Community with Business Volunteers Maryland
Business Volunteers Maryland is a nonprofit dedicated to strengthening the community by creating strategic connections between businesses, nonprofits and individuals. We help companies like yours to establish and expand community impact efforts while achieving your business goals. To learn more about our services and learn more about volunteering as a team, contact us by calling (410) 366-6030.