New Benevity Report Reveals a Surge in Corporate Volunteerism
CALGARY, Alberta, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Benevity Inc. the leading provider of global corporate purpose software, today released The State of Corporate Volunteering, a report from Benevity Impact Labs that reveals a surge in corporate volunteerism as companies seek ways to address the challenges of employee connection in a hybrid work world. The data revealed a 57% year-over-year increase in the rate of global employee volunteering participation and a 41% year-over-year increase in the total number of volunteer hours dedicated by companies and their people. Since the onset of the pandemic, there has been a 15% increase in the prevalence of companies running volunteering initiatives as part of their employee engagement programs.
The surge in volunteering comes at a time when companies are looking for ways to more effectively engage their employees, both in the office and remotely, while driving social and business impact. The report found in-person volunteering saw a major rise with participation 3.6 times greater than the previous year. At the same time, 51% of hours associated with volunteer opportunities on the Benevity platform were virtual (compared to 23% before the pandemic), allowing remote or hybrid employees to participate and donate their time and skills to nonprofits they care about from anywhere.
As companies increased their investment in employee volunteering programs, there was an influx of new volunteers – 65% of volunteers logged their first hours in the past year – providing a vital source of support for nonprofits who are struggling to attract and retain talent in a volatile economy. The report delivers data-backed insights into how companies can create a culture of sustained volunteering to maximize the social impact of their programs, improve cross-company connections and build team cohesion no matter where teams work.
Other key findings from the study include:
“We know that workers who are engaged in company social impact programs are less likely to leave their companies, and a recent study showed that among corporate wellness programs, participation in charity or volunteer work stands out as one of the few interventions that leads to improved well-being,” said Sona Khosla, Benevity’s Chief Impact Officer. “As we enter into an election year that is sure to create divides, volunteering offers an antidote to polarization and a way to build bridges. Volunteering alongside people who come from different walks of life broadens our horizons and fosters a compassion and empathy within us that helps to improve us as people while also enhancing teams, companies and communities.”
The State of Corporate Volunteering report analyzed data from 473 companies with active volunteering programs on the Benevity platform from April 1, 2022 to March 30, 2023, representing 18 countries and 12.9 million users.
To learn more about how companies can expand volunteering programs and support their employees, read The State of Corporate Volunteering here. Additionally, learn more about Benevity and its volunteering solutions here.
Media Contact: Zamira Tasneem¦ Media & Communications Manager ¦ 1.416.451.6511 ¦ [email protected]