Many companies are embracing the idea of corporate responsibility and trying to make a difference in the world. Volunteer Time Off, or VTO, programs are a popular way of doing that. The programs are successful both because they provide a way to give back to the community and because they are popular with employees.
What is Volunteer Time Off?
A VTO program gives each employee a certain number of paid hours in which they can volunteer at an organization of their choice. It is similar to a paid vacation, but it is oriented towards community service. The volunteer time is independent from other forms of corporate philanthropy, such as group volunteering sessions.
The Benefits of VTO
VTO programs can do a lot to support a business. Employees tend to appreciate the chance to help their communities, especially when they are getting paid to do so. The programs can help to improve their morale and make them more likely to stay with the company. That reduction in employee turnover can save money by reducing the need to train new employees. Millennial workers are particularly fond of community engagement, so this sort of policy is especially valuable for attracting younger members of the workforce.
It can also help a company’s reputation. After all, modern consumers tend to prefer businesses that take care of the community. The organizations that work with the company’s volunteers will remember them, which can also provide some good publicity.
The community itself also benefits. Even a small number of volunteers can have a big impact when they put their minds to it. Their efforts can easily lead to a happier and healthier community for everyone to enjoy.
How Much Time?
Some companies offer larger VTO programs than others. Slightly more than a fifth of all companies choose to offer a VTO program to their employees. Large companies are more likely to offer VTO than smaller ones, but there are programs in businesses of every size. The number of companies with these programs has steadily increased over time, and it is likely to continue growing.
The average program covers roughly eight hours of volunteer time each year. Some companies offer significantly more, and some do offer less. Businesses need to look at their needs and those of their community to decide on the right policy.