When volunteering, we don’t often consider the value we’re providing. It’s free, right?
The tricky part of answering the question is whether that value can be quantified. Even if there isn’t a definitive quantifiable value, volunteerism has a noticeable impact on the world.
When most people imagine what volunteering looks like, images of soup kitchens or helping out at the local animal shelter are a couple of things that come to mind. While that type of volunteer work is essential and valuable, volunteering your special skills cranks up the value. So, if you’re a bookkeeper, accountant or web designer, think of opportunities to volunteer around your specific skills.
Can Volunteer Work Be Quantified?
The two easiest metrics to track are time and money. According to a report last April from the Independent Sector and the Do Good Institute, the value of volunteer time equated to $33.49 per hour in 2023, an increase of 5.3% from 2022.
Moreover, according to Taproot Foundation, skills-based volunteering can be worth $220 per hour! These skills could be anything from wealth management counseling, doing taxes for low- to moderate-income people, contract reviews for new businesses in the community and so much more.
Charitable organizations most frequently use this figure to recognize the community support they receive from their volunteers, Independent Sector said. Companies like yours also use it to calculate the value of staff volunteer efforts in communities around the country to demonstrate the organization is a solid community partner.
“No dollar estimate can fully reflect the value of volunteers to the wellbeing of our communities and our nation, but organizations use this number to quantify the importance of volunteering,” Independent Sector President/CEO Dr. Akilah Watkins stated when the report was released.
Just as salaries vary in different locations, so does the value of volunteer work, Independent Sector reported. For example, DC had the highest value ranking at $50.88 per hour for nonskills-based volunteering compared to our home state of South Carolina, where it’s $29.95 per hour.
Bonus Values of Workplace Volunteer Programs
Of course, there are many ways volunteering generates value that are not quantifiable in the traditional sense, but they can be incredibly meaningful to your workplace volunteer program.
1. Increasing Employee Engagement
Not only do employee volunteer programs do good in the wider world, but they also help increase employee retention. Today’s younger workforce is all about meaningful work with social impact. Having these programs demonstrates your company’s cares about the community and what their employees care about.
Volunteering also presents a great opportunity for your employees to connect with each other and the community. It can help employees find causes that are important to them and the community, and in turn, build outside-the-office connections with their fellow teammates around them.
2. Seeing Teamwork Yield Results
Volunteers can see and feel good about the results of their work. For people and communities going through or simply living in crisis, knowing someone is helping can be a tremendous relief. Additionally, when those same people learn where your staff-volunteers work, they will be likelier to trust and do business with your company.
Encouraging Employee Volunteering
Market your employee giving and volunteering programs internally. Post dates, amounts raised and other information to your intranet or slack channels to educate and encourage participation. Be sure to add fun photos! Include information about volunteer and giving opportunities in companywide emails and inquire about it during the employee review process to solicit feedback on the program.
Just because an employee volunteer program exists doesn’t mean your staff will participate in that program. It can’t be forced. When creating employee giving programs, ensure you listen to your employees and learn what’s important to them and what kinds of skills they have that might not be evident in their day-to-day work. With those things in mind, craft a program and identify causes that matter to your employees that they are capable of participating in.
The true value of giving and volunteering can’t always be quantified, but there’s no denying that it has a great number of benefits for companies, their employees and the beneficiaries of volunteer work. It’s a means to make a difference while letting the community learn more about your organization and what you stand for, and it can help make a happier world for all.
In your quest to attract and retain employees and create a better world, it can be a nightmare to track everything your firm does to make that world a reality. Uncommon Giving can help you identify nonprofits to support, document all your team’s donations, and provide the data to better illustrate your company’s brand story. Learn how we can help tell your volunteering story here!
