A new trend, called Volunteer Time Off (VTO), is emerging throughout businesses across the country. As the title suggests, VTO is a policy that allows employees a certain amount of hours a year to volunteer during company hours; a majority of such companies even pay employees for hours volunteered. But why would an organization do this? On top of the brand building and corporate culture, Volunteer Time Off keeps employees engaged and connected to one another through giving back to the community. According to CECP’s Giving In Numbers 2014 report, 59% of companies offer a paid-time volunteer program. VTO policies provide numerous benefits to the business, the employees, and the community.
One of the best benefits to the company that offers VTO policies is edge is gives for recruitment. CECP’s 2014 report found that 61% of millennials would prefer to work for a firm offering volunteer opportunities. Volunteering programs can help companies to differentiate themselves from the pack, and it also aids the hiring of ambitious and engaged employees.
Volunteer Time Off can also increase the happiness of current employees. The Giving In Numbers 2014 report showed that 74% of employees feel fulfilled in jobs that extend opportunities to serve in social and environmental causes, and 70% of employee’s loyalty would grow if the company began offering VTO policies. Engaged and happy employees have to be the best benefit to volunteer time off policies.
It is claimed that VTO boosts company morale and builds a charitable culture within the company. In fact, 81% of people surveyed by CECP stated that volunteering with their coworkers strengthened their relationships. Is it because they shared new experiences together or they are now able to share different, yet similar stories amongst one another that the bond strengthens? Maybe it could be a newly found happiness bringing them closer.
Giving In Numbers 2014 report states that 78% of people who volunteer says it lowers their stress levels, and 76% of people who volunteered in the previous 12 months found that it made them feel healthier. Healthy employees are happy, engaged employees. And remember what happy, engaged employees are? Great for business!
Volunteer Time Off has been proven beneficial by companies, employees, and multiple reports. From healthier, happier employees to stronger company connection and culture, VTO can be beneficial in almost all aspects of business.