Why Volunteering Is Good For Business

 

The past pandemic season has taught us something valuable; some people will donate their spare change, sort out their canned goods, or buy gifts for the members of the family who are in need. However, some people love to help others through their skills. Those running a business might think that giving their employees a day off can be a bad thing. Still, by allowing them to join various volunteering opportunities, your business will advance its public image and reputation, enabling you to attract the best talent and retain your existing workers.

 

Recruit the Top Talents and Enhance the Employee's Engagement Level

 

The employees nowadays are entering the industry hoping that volunteering will play a significant part in their careers. According to the latest study, around 88% of millennials are more inclined to companies with a solid CSR program. More than 86% of them will be prepared to leave the company with a CSR that does not satisfy their expectations. In a recent survey, around 61% of the millennials claimed that volunteer work would be a significant factor in choosing the companies they want to work with.

 

Develop the Skills of the Employee

 

If you are running a small business or a start-up, it might be difficult for you to take some risk, especially if you are too concerned with your bottom line. Volunteering will be a perfect way to allow your employees to learn new skills. Exposing them to a new and challenging environment will enable them to go out of their comfort zone and discover new skills that they cannot learn from the workplace. 91% of the HR Managers in the Fortune 500 said that sharing expertise and knowledge is an effective way to develop leadership and critical business skills.

 

Improve Public Relations

 

Volunteering allows your business to interact with the community and create a profound connection with the locals. Based on the survey of Pulse, about 40% of the company's positive reputation is determined by their social responsibility and their volunteering program. Having a great PR is indeed a great side benefit of helping others. There is also a possibility that the local newspapers will cover your good deeds.

 

Increase Your Bottom Line

 

Keeping your employees engaged, improving your reputation, developing your skills, and attracting the major talents in the industry only means one thing; your bottom line will be immensely improved. Based on an article in Forbes magazine, keeping your employees engaged will increase your company's profitability by more than three times. An engaged employee also means a happy employee, resulting in higher customer satisfaction.

 

Those running their own company might want to consider the benefits presented by volunteering and how it can advance their business.