Are you struggling to keep millennials satisfied in your workplace? Look no further than volunteerism. This young workforce craves professional development and feeling like they’re making a difference in the world. Volunteerism kills those two birds with one stone, keeping this generation satisfied.
Consider the findings from Deloitte’s volunteer study:
- Millennials that volunteer regularly with their company are twice as likely to be satisfied at their workplace
- Those that volunteer are nearly 20% more likely to be loyal to their company versus non-volunteering counterparts
Quite simply, volunteering keeps Gen Y engaged. Their career path merges professional development with purpose. When a company fulfills both needs, it’s the greatest incentive for them to stick around.
If those numbers surprise you, take a look at why volunteering is important when it comes to retaining this generation.
Providing diverse opportunities: One of the top reasons why this specific workforce leaves any employer is due to lack of developmental growth. Volunteering opens up new opportunities that might not be found in the workplace, and they're are going to stay if a company is invested in their career goals.
Working for the greater good: This young crowd is drawn to companies that make an impact. Allowing them to step out of the office provides a new perspective: they’re bringing more purpose to the table than what they can achieve behind their desk.
Bringing value to the workplace: UnitedHealth Group released a study showing that 65% of employees have strengthened their relationship with co-workers through volunteering. Having a tight-knit, collaborative team creates an emotional loyalty for Gen Y to stay at the company.
Workplace satisfaction isn’t limited to the bottom line. Millennials seek a path full of development and purpose. Are you looking to retain this new generation of employees? Give them new opportunities for growth through volunteerism, and you’ll be able to keep this career-driven crowd satisfied.