Millennials always seem to have one foot out the door. Compared to their older counterparts, they’re 60% more likely to have interviewed for a job in the past three months. Retaining these employees can feel like an arms race: who offers the biggest perks, the highest salaries, the shiniest technology.
But there’s one effective way to keep Gen Y on board that won’t put you in the red, and it’s not some Digital Age invention.
The Unpaid Work Millennials Want To Do
This revealing Deloitte study shows us the way to the hearts of this younger generation: workplace volunteering. When they frequently participate in their company’s volunteer activities, these employees feel way more positive toward their workplace.
They’re nearly 20% more likely to be proud to work for their company.
Loyalty? They’ve got it—at a rate over 1.5 times that of other respondents.
They’re over 15% more likely to feel satisfied with their employers.
This kind of satisfaction contributes to great word of mouth: over half of them would recommend their company to a friend. They’re even happier with their personal career progression, to the tune of nearly double their counterparts not doing volunteer work.
Even though this work doesn’t earn them more salary, volunteering keeps millennials here, and it keeps them happy.
Happy Millennials, Happy Workplace
The perks aren’t limited to Gen Y. Workplace volunteering reaps rewards for all employees, regardless of generation.
64% of employees feel they don’t have a strong work culture, which can negatively affect employee engagement and company performance. Breathe life into your company values by putting them into practice in the community.
Want better performance out of your workforce? UnitedHealth Group’s Health and Volunteering Study shows that volunteering strengthens employees’ skills—and not just the ones you’d expect. Volunteers report improving their teamwork and time management skills, plus professional skills they use for work, such as marketing and management.
Want your employees to go the extra mile at work? Their number-one motivator is their peers. Build coworker camaraderie with group volunteering activities that give employees a chance to work together outside of the office.
All these benefits come with zero impact on your budget. You don’t need to woo millennials with ridiculous perks and sky-high salaries. Workplace volunteering gives you stronger, more satisfied, and more loyal employees—of any generation.