HR Answers: Corporate volunteerism trends and volunteer time off
Paid volunteer time is becoming more common and in demand as an employee benefit. Here’s how several credit unions are approaching VTO.
Corporate social responsibility is capturing greater focus across industries, especially as socially and environmentally conscious millennials and Gen Zers enter the workforce.
“In Deloitte’s 2017 Volunteerism Survey, close to 70% of employees said they are not volunteering as much as they would like to, with nearly two-thirds of respondents attributing this to the fact that they can’t dedicate time during the day to volunteer,” reported Lattice, an HR and performance consulting firm, in 2020.
Volunteer time off is an employee benefit that has gained traction recently among businesses wanting to enhance their CSR initiatives and make an impact on their communities—and now, their remote workers’ communities. Bamboo HR defines VTO as follows:
“Volunteer time off is a form of paid leave where employees receive their regular compensation for hours spent in service to an approved charitable or community organization. Volunteer time off policies can help attract employees to an organization by giving them latitude to make a difference outside the organization. They also provide employers with a way to support non-profits or communities with more than just a monetary donation.”
continue reading »
