Looking to boost engagement, retention and collaboration on your finance team? A well-designed employee volunteer program might be the solution. With a growing emphasis on corporate social responsibility programs, many finance leaders seek more meaningful ways to engage and develop their staff.
For many businesses, philanthropy and volunteerism are now integral parts of their organizational culture as well as cornerstones of environmental, social and governance (ESG) initiatives. Volunteerism can support your company’s ESG goals by promoting the “Social” pillar—showing both investors and customers that your organization is committed to community well-being.
In this article, we explore six proven benefits of corporate volunteerism—and how it can transform your finance team and your business.
1. Creates opportunities for bonding with colleagues
Planting trees alongside the company’s chief financial officer (CFO) or picking up roadside litter with the payroll director is a great way to break down silos and bring management and employees closer. Collaborating on a shared cause builds trust, improves communication and strengthens relationships across departments and levels. It’s a natural team-building activity that often feels more meaningful than typical corporate outings.
2. Supports team development and skill building
Volunteering gives employees a chance to build leadership, project management and communication skills—especially when they take on planning or coordination roles outside their usual job scope. Your team can expand their abilities while helping your local community in efforts like fundraising event support, school supply or holiday gift drives or volunteering at local food banks, for example.
3. Builds a stronger company culture
Giving back reinforces a company’s core values and fosters a positive, community-focused workplace culture that can be a draw for top talent. A shared accomplishment outside of day-to-day duties can also boost team morale and strengthen cross-functional relationships. Gen Z and Millennials, in particular, often seek purpose-driven work, and volunteerism helps align their personal values with the company’s mission.
4. Boosts team morale and well-being
In high-pressure roles like accounting and finance, volunteering can offer a rare break from spreadsheets and deadlines. Some of the benefits of volunteerism are reducing stress, fighting burnout and improving overall mental health by giving employees a sense of purpose beyond their day-to-day responsibilities. Physical service projects—such as building, planting, or cleaning—also encourage movement and time outdoors, both proven mood boosters. Plus, helping others triggers the release of endorphins, fostering a positive emotional state that can carry over into the workday.
5. Strengthens recruitment and retention
An organization that embraces corporate social responsibility sends the message that it values compassion, citizenship, integrity and environmentalism—which is the type of company that many professionals today seek to be a part of. Promoting your volunteer efforts on social media and career pages enhances employer branding—something Gen Z candidates actively seek out when considering job offers. Corporate culture can be a make-or-break factor when people choose where to work—and whether they stick around for the long term.
6. Enhances your company’s reputation
Sharing your team’s volunteer experiences—through social media, newsletters or your careers page—strengthens your employer brand and humanizes your organization. Real stories and photos of employees giving back showcase your values in action, helping your company stand out to customers, job seekers and stakeholders.
Tips for setting up an employee volunteer program
To fully realize the benefits of volunteerism, a commitment to your company’s program needs to be supported by appropriate focus and investment. Don’t simply chase trends or leave the effort to interns. So, before signing up your finance team for the next fun run or beach cleanup you hear about, take the following suggestions into account:
Find meaningful, mission-aligned causes. Work on service projects that align with your company’s mission and core values. A good partnership, for example, would be between a supermarket chain and an organization that works to reduce food waste. For companies in just about any industry, volunteering at food banks or collecting school supplies for disadvantaged children are rarely the wrong choice.
Connect skills to finance volunteering opportunities. Finance and accounting professionals are uniquely equipped to make an impact by using their expertise—whether it’s teaching financial literacy, serving on nonprofit finance committees, mentoring small business owners or assisting with tax preparation for low-income individuals. Leveraging these skills not only benefits the community but also reinforces professional strengths in a meaningful way.
Give time and money. A great way to double your impact is for the business to donate both labor and dollars to the causes you choose to support, such as through a corporate sponsorship of a philanthropic event. You could also give employees the option of contributing money in lieu of—or in addition to—their service.
Offer flexibility. The biggest barrier to volunteerism success is finding enough time to devote to giving back. So, if you want your employees to have the chance to get involved, offer a choice of opportunities whenever possible. Also, make sure your team members know how much you would like to see them participate.
Make it a group effort. Volunteering is a worthwhile activity on its own. But to reap the most value from it, you’ll want to get your entire team involved. Holding service projects during workdays is one way to maximize participation. Also, consider giving your employees paid time off to do volunteer work.
Think local. There are needs all over the world, to be sure. But to help drive employee involvement in your company’s volunteer program, consider aiming for projects that your team members can easily participate in, in person, and which make a difference in the local community.
While corporate social responsibility initiatives require time, effort and other resources to be successful, they are a worthwhile investment. They can generate many positives for your business—including a more-connected finance team that works better together. So, if important soft skills can be honed through helping others rather than paying for off-site corporate getaways, the question CFOs should be asking themselves is not “Why should our team volunteer?” but “Why on earth wouldn’t we?”
