Volunteer Time Off (VTO) is when a company offers paid time off for employees if they volunteer with nonprofit organizations. The new trend has made its way into countless businesses thanks to its amazing benefits, which include boosting recruitment, retention and corporate visibility.
A report from Fortune indicated that nearly two-thirds of millennials are more likely to work for a company that gives back to charities, whether by cash donation or philanthropic programs. When it comes to attracting new talent in your organization, offering time off for volunteer work may be the determining factor that separates your organization from the rest.
Beyond gaining employees, VTO can also help with your retention rate. When it comes to keeping yourself and others engaged with company values and focused on the importance of teamwork, VTO is second to none. It can also be a powerful way to bond as coworkers, make new connections with others outside of your typical work department, and teach each person the value of hard work.
When VTO becomes a part of office culture, each employee is trusted to represent the company in a positive light. In turn, this leaves each person with the understanding that they are respected and valued. Beyond the personal benefits VTO has for employees, it can also do a lot of good for the company as a whole.
According to research conducted by NP, 90% of companies who partnered with reputable nonprofits felt it enhanced their brand, while 89% believed that it gave them the ability to improve their community.
No matter your position at a company, it can’t be denied that VTO can bring a host of benefits. Bringing VTO into your company culture can be as easy as starting a discussion in the breakroom or having a conversation with your manager.
Despite the increased social isolation as a result of COVID-19, there are still plenty of ways to give back to your local community. From offering to purchase groceries for those at greater risk to the virus, helping to virtually assist young students with their online school work, and purchasing gift cards to local businesses in your area, be sure to take advantage of any opportunity to help your community during this these difficult times.