Today, many millennials are struggling to get by through day to day life. From higher living costs, paying off school loans and bills, and working multiple jobs at a time, millennials are more stressed than ever — and that stress is reflected in their performance at work. The last thing they have time for is volunteering.
Money doesn’t buy happiness, but the act of giving back to the community does. Many organizations think that in order for employees to be happy, they need a bigger paycheck, but that’s not necessarily true. Giving back to the community is a big reason that employees choose to work at companies that offer time off for volunteering and community work.
There has been a proven cycle of success within the workplace and we’ve all heard it before: Happy employees mean happy customers. In order for a business to succeed, it must rely heavily on its employees to establish relationships, solve problems, and communicate effectively with their customers. But studies have shown that many employees are not satisfied with their jobs, and it is not because of their paychecks. Many millennials aren’t given the opportunity to gain leadership skills, solve problems, or give back to the community. Supporting and encouraging employee volunteer projects will help them establish skills to personally grow as individuals, which they can apply within the workplace and strengthen the overall company.
According to the Millennial Impact Report, 46% of employed millennials volunteered with an organization they care for, and 52% donated to a cause they cared for. When people are able to give back to an organization, they feel a sense of fullness and satisfaction. Everyone wants to find a purpose to fulfill their lives and be apart of something special while fulfilling their corporate social responsibility (CSR). One study showed that millennials are more likely to engage in companies that focus on social issues.
This theory can be applied to the workplace environment as well when it comes to employee engagement. Millennials would rather chose to work for a company that integrates CSR in their business ethics. In fact, companies that pay for employees to volunteer on company time see a higher company growth rate, and happier employees. The attitudes and willingness of millennial employees grow when CSR is implemented in the work life. This leads to the quality of work and company ethics to expand.
Many people want to volunteer, but can’t because they feel spread too thin. Employees are more likely to volunteer if their companies give them support for their efforts. In this case, companies can help the community as well as their employees and their own company image. This is why many millennials are attracted to companies that allow the opportunity to get involved in the community, rather than focusing on traditional work flow and paychecks. The media has also been particularly interested in companies who are creating volunteer programs for their employees. These companies are becoming increasingly popular amongst millennials, and smaller/ private companies are beginning to take the steps to incorporate paid volunteer time off in their benefits programs.
Social issues and challenges have changed increasingly over the years. Millennials are now the largest generation living in today’s day and age, and they’re changing the way we may think. Working for companies who implement corporate social responsibility, is a big trend among millennials. These companies are growing bigger amongst their competitors and developing successful trends to establish happiness and growth within the workplace.