VOLUNTEERING STRENGTHENS RETENTION
According to the Office of National Statistics (ONS) the UK economy grew 2.6% in 2014, the fastest pace since 2007. Forecasts predict that this level of growth is likely to continue for a number of years to come. This is great news for the economy, but companies are going to have to work harder to hold onto their best people. Employer supported volunteering can help.
According to the CIPD, during the economic growth in 2007 employee turnover reached a peak of 18.1%, with 11.4% of those leaving voluntarily. There were variations between industries but the general theme spanned all sectors. A high proportion of those leaving were new starters leaving the organisation within the first six months (22%). The most frequently cited actions taken by organisations to address retention difficulties were increasing learning and development opportunities, improving the induction process, increasing pay and improving line management skills. However, only 39% of employers used these methods.
A study by Volunteering Australia provides anecdotal evidence that companies that support employee volunteering find it easier to recruit and retain good people, something most HR professionals already know. A You Gov survey published in 2010 shows that managers who supported employee volunteering saw a 55% improvement in their employee retention; the report is backed by the Institute of Directors. The value of having an employer supported employee volunteering program reaches far beyond employee retention. But in a competitive labour market improved employee retention is as good a reason as any for having one.
EVCiC is passionate about helping companies build a successful employee volunteering programme. The referenced documents are available to download on our website www.employeevolunteering.co.uk.
 CIPD Annual Survey Report 2008 – Recruitment, Retention and Staff Turnover
 CIPD Report – A Barometer of HR Trends and Prospects 2010
 Volunteering Australia – Staff recruitment, retention, satisfaction and productivity: the effects of employee volunteering programs.
 Volunteering is the Business – YouGov and Institute of Directors December 2010