Work-life balance can mean different things to different people. To a parent of multiple small children, the ability to be present in their children’s lives is a key factor in the work-life equation. Others may value time spent on personal hobbies, such as marathon running or travel. Still others feel most at balance when they can give back to their communities through some kind of service.
This desire among employees to provide service to their communities creates an important opening for businesses looking to engage employees, support work-life balance and help hone their job-related skills: skills-based volunteering (SBV).
New research reveals that SBV is a key strategy for attracting and retaining top talent. As employees increasingly seek purpose-driven work, companies offering meaningful volunteer opportunities gain a competitive edge.
The Power of Skills-Based Volunteering
SBV goes beyond traditional perks by tapping into the growing desire for social impact and skill development. This approach not only benefits employees, but also enhances nonprofits’ operational capacities, allowing them to better fulfill their missions.
The benefits of SBV include:
- Improved retention rates. Companies embracing SBV programs see improved employee retention rates. Engaged employees are more likely to stay with organizations that support their personal and professional growth.
- Increased job satisfaction. SBV programs lead to increased job satisfaction by providing employees with opportunities to apply their skills in meaningful ways. This connection to impactful work boosts overall morale.
- Stronger work connections. Employees develop a stronger connection to their work when they see the tangible benefits of their contributions. This sense of purpose fosters loyalty and commitment.
Workplace Intelligence’s research highlights that 74% of Gen Z and Millennials say they would be likely to leave their jobs due to inadequate support for skill development and career advancement opportunities.
In addition, an Edelman report indicates that 74% of individuals prioritize work that positively impacts the future. These statistics underscore the relevance and appeal of SBV initiatives.
Implementing SBV Programs
Not all SBV programs are created equal. Companies can best leverage SBV by:
- Creating meaningful opportunities. Develop SBV programs that align with employees’ skills and interests, ensuring they have a significant impact.
- Highlighting social impact. Communicate the positive social impact of SBV initiatives to employees, reinforcing their sense of purpose.
- Providing support and resources. Offer training and resources to help employees effectively contribute to volunteer projects, enhancing their experience and skill development.
Common Impact has been instrumental in developing SBV programs for Fortune 500 companies and has over two decades of experience doing so. Their initiatives have successfully fostered employee development, retention, and corporate social responsibility objectives.
Skills-based volunteering is a powerful tool for recruiting, engaging, and retaining purpose-driven employees. By implementing well-designed SBV programs, companies can meet the growing demand for meaningful work, enhance employee satisfaction, and contribute positively to society. For more insights and best practices, explore the resources provided by Workplace Intelligence and Common Impact.
Lin Grensing-Pophal is a Contributing Editor at HR Daily Advisor.