Community Service: A New Tool in Employee Retention and Career Development
Demographic and retention research has recently found that companies that convey their commitment to corporate social responsibility are gaining a competitive advantage in retaining the best and brightest employees. A 2007 survey by Deloitte & Touche found that nearly 66% of Gen Y employees prefer companies that allow for volunteer opportunities.
Not only does community service help to retain employees, but it may offer a chance for young employees to grow their skills and strengths. The Deloitte survey also showed that 82% of volunteers surveyed said that the experience developed leadership and other job skills.
So what should you remember when creating a culture of volunteerism in your company?
Offer a variety of opportunities that people can become engaged and involved in easily and that peak interest. If your company is unable to offer multiple opportunities, consider an employee interest survey.
Always be authentic about the volunteer opportunities that your company offers.
Communicate and promote volunteerism as something the company sees as valuable.
Realize that volunteerism may evolve and allow employees to take their efforts to the next level.
Look for ways for volunteerism to develop employee skills. Allow them to tackle issues that they may not face in their daily job.
Finally, remember community service initiatives can be inexpensive, but also allow for money to be donated for employee service hours.
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With the average employee tenure remaining near 4 years and Gen Y entering the workforce while continuously marketing themselves, retention initiatives are becoming increasingly more vital to corporate success. Initiatives such as raising salaries and benefits may no longer be enough to retain employees. While initiatives such as work/life balance and professional development are becoming more common, a new initiative, community service, is now becoming mainstream as a way to attract and retain employees.| Issue 2 | February 2008 |
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Kathy Albarado, Helios HR – See the article from Virginia Business Magazine
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