Promoting the business benefits of employee volunteering

We were at Westminster this week, welcoming senior business leaders and policy makers to a reception hosted by Stephen Lloyd MP to outline the business benefits of effective employee engagement. We think there is an amazing story to tell about the impact it can have on staff morale, motivation, commitment and retention rates.  

There were great contributions from MPs including Andrew Bingham, who has “walked the talk” by spending two weeks out volunteering in his constituency during the summer recess. Our host Stephen Lloyd drew on his own business background to describe the value of volunteering.

Corporate responsibility has always made good business sense – attracting the best talent and earning the trust of customers and the community. Employee volunteering helps a workforce to develop leadership, decision-making and negotiation skills while making a genuine difference in the communities where they work. During difficult economic times, those skills are more vital than ever.

One statistic really had the audience buzzing. We’ve long known that investing in volunteering enhances the way employees perceive their company – and want to stay with it, resulting in lower staff turnover rates.  But who would have thought a company with 9,500 employees could achieve an annual saving of nearly £2m through the motivational benefits of volunteering? It came to light when they compared staff turnover rates and found a dramatic decrease - from an average 19% to 2.7% - amongst those staff who took part in their employee volunteering programme.

TimeBank has been connecting businesses and communities for the past 10 years – delivering employee volunteering that really works. We’ve delivered programmes for EE, BT, T-Mobile, Ernst & Young, Sony and the Cabinet Office to name just a few, so we’re highly experienced in this field.

If you weren’t able to get along to our reception, but would like to find out more about how employee volunteering can benefit your company, do get in touch.