The eighth annual Deloitte Volunteer IMPACT survey found that millennials who frequently take part in their companies’ volunteer activities, compared with those who do not, are:
- Twice as likely to rate their corporate culture as very positive (56% versus 28%);
- More likely to be very proud to work for their company (55% versus 36%);
- More likely to feel very loyal toward their company (52% versus 33%);
- Nearly twice as likely to be very satisfied with the progression of their career (37% versus 21%);
- More likely to be very satisfied with their employer (51% versus 32%); and
- More likely to recommend their company to a friend (57% versus 46%).
The survey also revealed that millennials strongly favor (70%) companies that serve their community, and are likely to factor a company’s commitment to the community into their decision if choosing between two jobs with the same location, responsibilities and pay and benefits. Even the majority (61%) of those who rarely or never volunteer say the same.
Half (51%) of all millennials surveyed also reported wanting to benefit professionally from their volunteerism. Skilled volunteers, who use their business acumen to help nonprofit organizations, are more likely than “hands-on” volunteers to say it is important that their volunteer efforts benefit them professionally (72% versus 56%), and to be motivated by career advancement (47% versus 34%).
Joseph Echevarria, Deloitte CEO, said in a press release: “This is a strong argument for making volunteerism a business priority, because employee engagement and organizational culture are inextricably linked to organizational performance.”